Yuen Wupen Sells 264 Shares of Lumentum Holdings Inc. (NASDAQ:LITE) Stock

Lumentum Holdings Inc. (NASDAQ:LITE) insider Yuen Wupen sold 264 shares of the company’s stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $102.22, for a total transaction of $26,986.08. Following the completion of the transaction, the insider owned 80,302 shares in the company, valued at approximately $8,208,470.44. The trade was a 0.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Yuen Wupen also recently made the following trade(s):

• On Monday, May 19th, Yuen Wupen sold 289 shares of Lumentum stock. The shares were sold at an average price of $75.88, for a total value of $21,929.32.
• On Friday, May 16th, Yuen Wupen sold 290 shares of Lumentum stock. The stock was sold at an average price of $77.98, for a total transaction of $22,614.20.
• On Thursday, May 15th, Yuen Wupen sold 4,716 shares of Lumentum stock. The shares were sold at an average price of $76.87, for a total transaction of $362,518.92.
• On Tuesday, May 13th, Yuen Wupen sold 4,426 shares of Lumentum stock. The shares were sold at an average price of $71.80, for a total value of $317,786.80.

Lumentum Price Performance

Shares of LITE stock opened at $102.13 on Thursday. The company has a market cap of $7.09 billion, a P/E ratio of -15.83 and a beta of 1.34. The company has a debt-to-equity ratio of 2.91, a current ratio of 4.72 and a quick ratio of 3.53. The stock’s 50-day moving average is $86.56 and its 200 day moving average is $76.04. Lumentum Holdings Inc. has a 1-year low of $38.29 and a 1-year high of $105.47.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.07. Lumentum had a negative return on equity of 8.69% and a negative net margin of 29.87%. The business had revenue of $425.20 million during the quarter, compared to the consensus estimate of $418.18 million. During the same quarter last year, the company earned $0.09 earnings per share. The company’s quarterly revenue was up 16.0% on a year-over-year basis. Research analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LITE. Needham & Company LLC raised their price objective on shares of Lumentum from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, June 11th. B. Riley raised their target price on shares of Lumentum from $65.00 to $73.00 and gave the company a “neutral” rating in a report on Wednesday, June 4th. Northland Securities set a $80.00 price objective on Lumentum in a research note on Wednesday, May 7th. Raymond James Financial increased their target price on shares of Lumentum from $80.00 to $90.00 and gave the company a “strong-buy” rating in a research note on Wednesday, June 4th. Finally, Barclays set a $75.00 price objective on Lumentum and gave the company an “overweight” rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.73.

Institutional Trading of Lumentum

A number of hedge funds and other institutional investors have recently made changes to their positions in LITE. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Lumentum during the 1st quarter valued at about $260,000. Crestline Management LP purchased a new position in Lumentum in the 4th quarter worth approximately $4,435,000. UMB Bank n.a. boosted its stake in Lumentum by 132.9% during the first quarter. UMB Bank n.a. now owns 785 shares of the technology company’s stock worth $49,000 after buying an additional 448 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Lumentum by 1.1% in the 1st quarter. Principal Financial Group Inc. now owns 159,154 shares of the technology company’s stock valued at $9,922,000 after buying an additional 1,660 shares during the period. Finally, Asset Management One Co. Ltd. purchased a new position in Lumentum in the first quarter worth approximately $69,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Lumentum Company Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.