Today, Insider Selling: Lumentum Holdings Inc. (LITE) CEO Sold $44,266.50 in Stock

Today, Insider Selling: Lumentum Holdings Inc. (LITE) CEO Sold $44,266.50 in Stock

Lumentum Holdings Inc. (NASDAQ:LITE) CEO Alan S. Lowe sold 1,093 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $40.50, for a total value of $44,266.50. Following the sale, the chief executive officer now directly owns 148,162 shares of the company’s stock, valued at $6,000,561. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) opened at 41.30 on Friday. The stock’s 50 day moving average price is $39.44 and its 200 day moving average price is $32.30. Lumentum Holdings Inc. has a one year low of $18.10 and a one year high of $45.25. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 764.81 and a beta of 0.63.

Lumentum Holdings (NASDAQ:LITE) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.05. The company earned $258.10 million during the quarter, compared to analysts’ expectations of $251.95 million. Lumentum Holdings had a return on equity of 15.22% and a net margin of 0.62%. Lumentum Holdings’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 earnings per share. On average, equities analysts anticipate that Lumentum Holdings Inc. will post $2.01 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Gilder Gagnon Howe & Co. LLC boosted its position in Lumentum Holdings by 110,915.0% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 2,070,429 shares of the company’s stock valued at $86,482,000 after buying an additional 2,068,564 shares in the last quarter. Victory Capital Management Inc. raised its stake in Lumentum Holdings by 69,766.5% in the third quarter. Victory Capital Management Inc. now owns 1,429,469 shares of the company’s stock valued at $59,709,000 after buying an additional 1,427,423 shares during the last quarter. RS Investment Management Co. LLC raised its stake in Lumentum Holdings by 1,548.6% in the second quarter. RS Investment Management Co. LLC now owns 1,395,702 shares of the company’s stock valued at $33,776,000 after buying an additional 1,311,042 shares during the last quarter. Teachers Advisors Inc. raised its stake in Lumentum Holdings by 50.7% in the second quarter. Teachers Advisors Inc. now owns 2,734,615 shares of the company’s stock valued at $66,178,000 after buying an additional 919,821 shares during the last quarter. Finally, BlackRock Fund Advisors raised its stake in Lumentum Holdings by 38.7% in the second quarter. BlackRock Fund Advisors now owns 3,204,522 shares of the company’s stock valued at $77,549,000 after buying an additional 893,643 shares during the last quarter. 79.33% of the stock is owned by institutional investors.

LITE has been the subject of a number of recent research reports. B. Riley reaffirmed a “buy” rating and set a $50.00 price target on shares of Lumentum Holdings in a research note on Friday, September 30th. MKM Partners raised their price target on Lumentum Holdings from $37.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, September 26th. Jefferies Group raised their price target on Lumentum Holdings from $34.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Stifel Nicolaus raised their price target on Lumentum Holdings from $31.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Lumentum Holdings in a research note on Monday, August 8th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $41.40.

About Lumentum Holdings

Related posts

Leave a Comment