Lumentum Holdings Inc. (NASDAQ:LITE – Get Free Report) insider Yuen Wupen sold 500 shares of the business’s stock in a transaction on Friday, September 25th. The stock was sold at an average price of $935.75, for a total value of $467,875.00. Following the completion of the transaction, the insider directly owned 109,127 shares in the company, valued at approximately $102,115,590.25. This represents a 0.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Yuen Wupen also recently made the following trade(s):
- On Wednesday, September 23rd, Yuen Wupen sold 500 shares of Lumentum stock. The shares were sold at an average price of $946.56, for a total value of $473,280.00.
- On Monday, September 21st, Yuen Wupen sold 500 shares of Lumentum stock. The stock was sold at an average price of $959.27, for a total value of $479,635.00.
- On Friday, September 18th, Yuen Wupen sold 500 shares of Lumentum stock. The stock was sold at an average price of $920.00, for a total transaction of $460,000.00.
- On Wednesday, September 16th, Yuen Wupen sold 500 shares of Lumentum stock. The shares were sold at an average price of $856.83, for a total transaction of $428,415.00.
- On Monday, September 14th, Yuen Wupen sold 500 shares of Lumentum stock. The stock was sold at an average price of $862.14, for a total transaction of $431,070.00.
- On Thursday, September 10th, Yuen Wupen sold 500 shares of Lumentum stock. The shares were sold at an average price of $961.44, for a total transaction of $480,720.00.
- On Tuesday, September 8th, Yuen Wupen sold 500 shares of Lumentum stock. The shares were sold at an average price of $895.99, for a total transaction of $447,995.00.
- On Friday, September 4th, Yuen Wupen sold 500 shares of Lumentum stock. The stock was sold at an average price of $860.00, for a total transaction of $430,000.00.
- On Wednesday, September 2nd, Yuen Wupen sold 500 shares of Lumentum stock. The stock was sold at an average price of $864.49, for a total transaction of $432,245.00.
- On Monday, August 31st, Yuen Wupen sold 500 shares of Lumentum stock. The shares were sold at an average price of $895.00, for a total value of $447,500.00.
Lumentum Stock Performance
NASDAQ:LITE traded up $12.61 during trading hours on Friday, reaching $941.65. The stock had a trading volume of 3,852,886 shares, compared to its average volume of 4,197,292. The stock has a market cap of $84.47 billion, a P/E ratio of -11.45 and a beta of 1.53. The stock has a 50 day simple moving average of $862.03 and a 200 day simple moving average of $843.32. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.40 and a current ratio of 1.68. Lumentum Holdings Inc. has a 12-month low of $147.81 and a 12-month high of $1,085.68.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. increased its holdings in shares of Lumentum by 45.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company’s stock worth $136,306,000 after buying an additional 114,714 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. purchased a new position in Lumentum in the first quarter worth $2,046,000. Styrax Capital LP grew its position in Lumentum by 3.6% in the first quarter. Styrax Capital LP now owns 140,000 shares of the technology company’s stock worth $98,386,000 after acquiring an additional 4,837 shares in the last quarter. Whittier Trust Co. increased its stake in Lumentum by 21,806.5% in the first quarter. Whittier Trust Co. now owns 74,044 shares of the technology company’s stock valued at $57,183,000 after acquiring an additional 73,706 shares during the last quarter. Finally, Andar Capital Management HK Ltd purchased a new stake in Lumentum during the fourth quarter valued at about $4,325,000. 94.05% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
LITE has been the subject of several recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $1,040.00 target price on shares of Lumentum in a research note on Wednesday, August 12th. Northland Securities raised their price objective on shares of Lumentum from $1,000.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. Morgan Stanley lifted their price objective on shares of Lumentum from $900.00 to $1,000.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 12th. Evercore began coverage on shares of Lumentum in a report on Monday, August 31st. They set an “outperform” rating and a $1,100.00 target price on the stock. Finally, Rosenblatt Securities restated a “buy” rating and set a $1,300.00 target price on shares of Lumentum in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, fifteen 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, Lumentum presently has an average rating of “Moderate Buy” and an average price target of $1,053.83.
Get Our Latest Research Report on LITE
Lumentum Company Profile
Lumentum Holdings Inc (NASDAQ: LITE) designs and manufactures optical and photonic products used to transmit, process and control light. Its portfolio includes optical components, modules, subsystems, lasers and photonic integrated circuits that support communications networks, data centers, cloud infrastructure and industrial applications.
The company also supplies technologies for consumer electronics and 3D sensing, including laser-based products used in applications such as depth sensing and facial recognition.
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