The Lumentum Holdings Inc. (LITE) CEO Alan S. Lowe Sells 5,221 Shares

The Lumentum Holdings Inc. (LITE) CEO Alan S. Lowe Sells 5,221 Shares

Lumentum Holdings Inc. (NASDAQ:LITE) CEO Alan S. Lowe sold 5,221 shares of Lumentum Holdings stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $36.05, for a total value of $188,217.05. Following the transaction, the chief executive officer now owns 140,656 shares of the company’s stock, valued at approximately $5,070,648.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) traded down 0.57% on Wednesday, hitting $34.70. The stock had a trading volume of 866,358 shares. The stock has a market cap of $2.09 billion, a PE ratio of 642.59 and a beta of 0.77. Lumentum Holdings Inc. has a one year low of $18.59 and a one year high of $45.25. The company’s 50 day moving average is $38.79 and its 200 day moving average is $36.42.

Lumentum Holdings (NASDAQ:LITE) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.05. The firm earned $258.10 million during the quarter, compared to analysts’ expectations of $251.95 million. Lumentum Holdings had a net margin of 0.62% and a return on equity of 15.22%. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 earnings per share. Equities research analysts predict that Lumentum Holdings Inc. will post $2.02 EPS for the current fiscal year.

A number of equities research analysts have recently commented on the company. MKM Partners raised their target price on Lumentum Holdings from $37.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, September 26th. B. Riley restated a “buy” rating and set a $50.00 target price on shares of Lumentum Holdings in a research report on Friday, September 30th. Jefferies Group raised their target price on Lumentum Holdings from $39.00 to $51.50 and gave the company a “buy” rating in a research report on Monday, October 3rd. Piper Jaffray Companies restated an “overweight” rating and set a $47.00 target price (up from $38.00) on shares of Lumentum Holdings in a research report on Friday, October 7th. Finally, Goldman Sachs Group, Inc. (The) cut Lumentum Holdings from a “neutral” rating to a “sell” rating and set a $36.00 target price on the stock. in a research report on Tuesday, October 11th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Lumentum Holdings presently has a consensus rating of “Buy” and an average target price of $41.94.

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. boosted its position 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 in the last quarter. RS Investment Management Co. LLC boosted its position 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 in the last quarter. Teachers Advisors Inc. boosted its position 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 in the last quarter. Finally, BlackRock Fund Advisors boosted its position 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 in the last quarter. 81.13% of the stock is owned by hedge funds and other institutional investors.

About Lumentum Holdings

Lumentum Holdings Inc is a provider of optical and photonic products for a range of end market applications, including data communications (Datacom) and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Company operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers).

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