Lumentum Holdings Inc. (NASDAQ:LITE) Insider Sells $3,733,879.20 in Stock

Lumentum Holdings Inc. (NASDAQ:LITE) insider Vincent Retort sold 41,710 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $89.52, for a total value of $3,733,879.20. Following the completion of the transaction, the insider now directly owns 147,515 shares in the company, valued at approximately $13,205,542.80. The trade was a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Lumentum Price Performance

Shares of LITE traded down $0.22 during mid-day trading on Tuesday, hitting $86.98. 1,144,386 shares of the company were exchanged, compared to its average volume of 1,493,729. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of -10.49 and a beta of 0.88. Lumentum Holdings Inc. has a 1-year low of $38.28 and a 1-year high of $91.21. The company has a 50 day moving average of $70.04 and a 200-day moving average of $57.30. The company has a debt-to-equity ratio of 2.87, a quick ratio of 4.04 and a current ratio of 5.36.

Institutional Trading of Lumentum

A number of institutional investors have recently made changes to their positions in LITE. Signaturefd LLC raised its stake in Lumentum by 13.8% in the 3rd quarter. Signaturefd LLC now owns 1,302 shares of the technology company’s stock valued at $83,000 after purchasing an additional 158 shares during the last quarter. Synovus Financial Corp raised its position in shares of Lumentum by 1.5% in the third quarter. Synovus Financial Corp now owns 13,225 shares of the technology company’s stock valued at $838,000 after buying an additional 200 shares during the last quarter. Quarry LP raised its position in shares of Lumentum by 85.5% in the third quarter. Quarry LP now owns 436 shares of the technology company’s stock valued at $28,000 after buying an additional 201 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Lumentum by 67.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company’s stock worth $42,000 after buying an additional 270 shares in the last quarter. Finally, Mcdonald Partners LLC boosted its position in Lumentum by 1.6% during the second quarter. Mcdonald Partners LLC now owns 19,830 shares of the technology company’s stock worth $1,010,000 after acquiring an additional 318 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on LITE shares. Raymond James increased their price objective on Lumentum from $70.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Needham & Company LLC boosted their target price on shares of Lumentum from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Rosenblatt Securities upped their price objective on Lumentum from $69.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. B. Riley raised their price objective on shares of Lumentum from $40.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Lumentum from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $74.85.

About Lumentum

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.