Lumentum Holdings Inc. (NASDAQ:LITE – Get Free Report) SVP Jae Kim sold 1,422 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $1,356,516.90. Following the transaction, the senior vice president owned 32,333 shares of the company’s stock, valued at $30,844,065.35. This represents a 4.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.
Jae Kim also recently made the following trade(s):
- On Monday, May 11th, Jae Kim sold 1,933 shares of Lumentum stock. The shares were sold at an average price of $950.99, for a total value of $1,838,263.67.
Lumentum Price Performance
Shares of NASDAQ:LITE traded up $5.11 on Tuesday, reaching $890.09. The company’s stock had a trading volume of 5,011,549 shares, compared to its average volume of 6,230,191. The company has a market cap of $69.25 billion, a P/E ratio of 164.83 and a beta of 1.53. Lumentum Holdings Inc. has a 52-week low of $71.04 and a 52-week high of $1,085.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14. The company has a 50-day simple moving average of $821.27 and a 200 day simple moving average of $547.23.
Hedge Funds Weigh In On Lumentum
Institutional investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its holdings in shares of Lumentum by 8,579.2% in 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 in the last quarter. Norges Bank bought a new position in Lumentum during the 4th quarter worth about $474,495,000. Value Aligned Research Advisors LLC bought a new position in Lumentum during the 4th quarter worth about $432,062,000. Situational Awareness LP increased its position in Lumentum by 210.9% during the 4th quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock valued at $478,577,000 after purchasing an additional 880,800 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Lumentum by 707.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company’s stock valued at $366,555,000 after purchasing an additional 871,249 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.
More Lumentum News
Here are the key news stories impacting Lumentum this week:
- Positive Sentiment: Lumentum was added to the Nasdaq-100, which can drive buying from index funds and ETFs and improve the stock’s visibility with institutional investors. Lumentum (LITE) Joins Nasdaq-100 Index
- Positive Sentiment: Broker-rating upgrades cited Lumentum as a stock worth watching, reinforcing the bullish view that demand tied to AI infrastructure remains a long-term tailwind. 3 Stocks Backed By Broker Rating Upgrades Worth Betting On
- Neutral Sentiment: Lumentum presented at JPMorgan’s Global Technology, Media and Communications Conference, but no major new financial guidance or surprises were highlighted in the article. Lumentum Holdings Inc. (LITE) Presents at J.P. Morgan Conference Transcript
- Neutral Sentiment: NVIDIA’s latest portfolio filing was discussed in relation to Lumentum, but the piece did not indicate a direct material change in Lumentum’s fundamentals. A Deep Dive Into NVIDIA’s Latest Portfolio Moves (LITE)
- Negative Sentiment: Shares of Lumentum and other AI optics names fell as investors took profits across the sector after a strong run. Applied Optoelectronics Slumps 10%, Lumentum Dives 9%, Coherent Drops 6% as AI Optics Profit-Takers Strike
- Negative Sentiment: A prominent AI investor reportedly exited stakes in Lumentum, adding to pressure on sentiment around the stock. Lumentum, Coherent Drop After Prominent AI Investor Sells Stakes
- Negative Sentiment: Three insiders, including the CFO, SVP, and another executive, sold shares under pre-arranged 10b5-1 plans to cover tax withholding tied to equity vesting, which can weigh on short-term sentiment even if the sales were routine. SEC filing for Wajid Ali sale
Wall Street Analysts Forecast Growth
LITE has been the topic of a number of analyst reports. Raymond James Financial reaffirmed an “outperform” rating and set a $1,014.00 target price on shares of Lumentum in a research note on Wednesday, May 6th. Mizuho set a $1,100.00 target price on Lumentum in a research report on Wednesday, May 6th. Morgan Stanley upped their price target on shares of Lumentum from $710.00 to $900.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $1,200.00 price target on shares of Lumentum in a research note on Wednesday, May 6th. Finally, Bank of America boosted their price objective on shares of Lumentum to $520.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Lumentum presently has an average rating of “Moderate Buy” and a consensus price target of $1,012.43.
Check Out Our Latest Research Report on LITE
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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