Lumentum Holdings Inc. (NASDAQ:LITE – Get Free Report)’s stock price gapped down before the market opened on Monday following insider selling activity. The stock had previously closed at $866.71, but opened at $823.60. Lumentum shares last traded at $798.7820, with a volume of 845,386 shares traded.
Specifically, SVP Jae Kim sold 1,904 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $827.82, for a total transaction of $1,576,169.28. Following the transaction, the senior vice president directly owned 42,096 shares of the company’s stock, valued at $34,847,910.72. This trade represents a 4.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 2,483 shares of Lumentum stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $827.82, for a total transaction of $2,055,477.06. Following the transaction, the insider directly owned 109,438 shares in the company, valued at approximately $90,594,965.16. This represents a 2.22% decrease in their position. The SEC filing for this sale provides additional information. 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. In other Lumentum news, insider Yuen Wupen sold 500 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $898.15, for a total value of $449,075.00. Following the transaction, the insider owned 93,229 shares of the company’s stock, valued at approximately $83,733,626.35. The trade was a 0.53% decrease in their ownership of the stock. 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.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the stock. UBS Group set a $820.00 target price on shares of Lumentum in a research report on Wednesday, August 12th. Bank of America reduced their price objective on Lumentum from $1,100.00 to $1,000.00 and set a “neutral” rating for the company in a report on Wednesday, August 12th. Citic Securities boosted their target price on Lumentum from $620.00 to $1,186.00 in a research note on Monday, May 11th. Morgan Stanley upped their price target on Lumentum from $900.00 to $1,000.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 12th. Finally, Mizuho increased their target price on shares of Lumentum from $1,100.00 to $1,140.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Lumentum presently has an average rating of “Moderate Buy” and an average target price of $1,044.67.
Lumentum Stock Performance
The firm has a market cap of $71.83 billion, a PE ratio of -9.74 and a beta of 1.50. The company has a 50 day simple moving average of $809.76 and a 200-day simple moving average of $792.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.68 and a quick ratio of 1.40.
Lumentum (NASDAQ:LITE – Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The technology company reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.26. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $987.70 million. During the same period in the previous year, the business posted $0.88 EPS. The business’s quarterly revenue was up 109.3% on a year-over-year basis. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. As a group, equities research analysts anticipate that Lumentum Holdings Inc. will post 19.76 EPS for the current year.
Institutional Trading of Lumentum
Several hedge funds have recently added to or reduced their stakes in LITE. California State Teachers Retirement System grew its holdings in Lumentum by 112,343.2% in the 2nd quarter. California State Teachers Retirement System now owns 92,237,160 shares of the technology company’s stock worth $79,145,018,000 after acquiring an additional 92,155,130 shares during the last quarter. Jupiter Topco LLC bought a new position in shares of Lumentum during the second quarter valued at about $1,621,396,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Lumentum by 8,579.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock valued at $254,350,000 after acquiring an additional 1,545,199 shares during the last quarter. Norges Bank purchased a new stake in shares of Lumentum during the fourth quarter worth about $474,495,000. Finally, Value Aligned Research Advisors LLC purchased a new stake in shares of Lumentum during the fourth quarter worth about $432,062,000. 94.05% of the stock is owned by institutional investors.
Lumentum Company Profile
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.
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