Shares of Lumentum Holdings Inc. (NASDAQ:LITE – Get Free Report) fell 9.9% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $863.11 and last traded at $873.31. 5,950,229 shares were traded during trading, an increase of 4% from the average session volume of 5,741,491 shares. The stock had previously closed at $968.90.
Specifically, SVP Jae Kim sold 1,366 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $909.43, for a total value of $1,242,281.38. Following the completion of the sale, the senior vice president directly owned 45,973 shares of the company’s stock, valued at approximately $41,809,225.39. The trade was a 2.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Vincent Retort sold 3,183 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $909.43, for a total value of $2,894,715.69. Following the transaction, the insider owned 114,495 shares in the company, valued at $104,125,187.85. This represents a 2.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. TD Cowen increased their price objective on Lumentum from $800.00 to $820.00 and gave the company a “hold” rating in a report on Wednesday, August 12th. Needham & Company LLC restated a “buy” rating and set a $1,040.00 target price on shares of Lumentum in a research report on Wednesday, August 12th. Stifel Nicolaus lifted their target price on shares of Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Weiss Ratings downgraded shares of Lumentum from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 5th. Finally, Zacks Research cut shares of Lumentum from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Lumentum has an average rating of “Moderate Buy” and a consensus target price of $1,044.67.
Lumentum Stock Up 2.4%
The stock has a market capitalization of $76.04 billion, a PE ratio of -10.32 and a beta of 1.50. The firm’s fifty day moving average is $811.06 and its 200-day moving average is $786.24. The company has a quick ratio of 1.40, a current ratio of 1.68 and a debt-to-equity ratio of 0.01.
Lumentum (NASDAQ:LITE – Get Free Report) last released its earnings results on Tuesday, August 11th. The technology company reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.26. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $987.70 million. Lumentum had a positive return on equity of 26.34% and a negative net margin of 230.15%.Lumentum’s quarterly revenue was up 109.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 earnings per share. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. On average, equities research analysts predict that Lumentum Holdings Inc. will post 16.97 earnings per share for the current year.
Institutional Trading of Lumentum
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hilton Head Capital Partners LLC acquired a new stake in shares of Lumentum during the first quarter worth $25,000. Sachetta LLC lifted its stake in shares of Lumentum by 118.8% in the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after purchasing an additional 19 shares in the last quarter. Truvestments Capital LLC grew its holdings in shares of Lumentum by 300.0% during the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock worth $28,000 after purchasing an additional 57 shares during the period. Triumph Capital Management purchased a new stake in shares of Lumentum during the 4th quarter worth about $30,000. Finally, Danske Bank A S acquired a new position in Lumentum during the third quarter valued at approximately $33,000. 94.05% of the stock is owned by hedge funds and other institutional investors.
About Lumentum
Lumentum Holdings Inc, headquartered in San Jose, California, is a leading provider of photonic technologies that enable high-speed optical communication networks and advanced industrial applications. The company designs and manufactures a broad range of lasers, optical modules and subsystems tailored to the evolving requirements of telecommunications carriers, cloud data centers and enterprise networking.
Its core product portfolio includes tunable and fixed-wavelength laser transmitters, coherent optical engines, transceivers for long-haul, metro and data center interconnects, as well as test and measurement instruments.
Featured Articles
- Five stocks we like better than Lumentum
- TJX Companies Stock Drop Sets Up Buy Signal as Analysts Stay Bullish
- Nasdaq’s 23-Hour Trading Push Could Turn Global Liquidity Into a Growth Engine
- Diamondback Hits a Milestone at Just the Right Time
- Analog Devices’ AI Pivot Could Push Shares to Fresh Highs
Receive News & Ratings for Lumentum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumentum and related companies with MarketBeat.com's FREE daily email newsletter.
-logo-1200x675.png){kind=logo}
