Lumentum Holdings Inc. (NASDAQ:LITE) Director Sells $176,617.56 in Stock

Lumentum Holdings Inc. (NASDAQ:LITE) Director Julia Suzanne Johnson sold 2,058 shares of Lumentum stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $85.82, for a total value of $176,617.56. Following the completion of the transaction, the director now directly owns 23,287 shares in the company, valued at $1,998,490.34. This represents a 8.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Lumentum Stock Performance

NASDAQ:LITE opened at $83.77 on Friday. The company’s 50 day moving average is $71.12 and its 200-day moving average is $57.78. The company has a debt-to-equity ratio of 2.87, a current ratio of 5.36 and a quick ratio of 4.04. Lumentum Holdings Inc. has a 12 month low of $38.28 and a 12 month high of $91.21.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LITE. Signaturefd LLC lifted its position in shares of Lumentum by 13.8% during the 3rd quarter. Signaturefd LLC now owns 1,302 shares of the technology company’s stock worth $83,000 after purchasing an additional 158 shares during the last quarter. Synovus Financial Corp lifted its holdings in shares of Lumentum by 1.5% during the third quarter. Synovus Financial Corp now owns 13,225 shares of the technology company’s stock worth $838,000 after buying an additional 200 shares during the last quarter. Quarry LP grew its stake in shares of Lumentum by 85.5% in the third quarter. Quarry LP now owns 436 shares of the technology company’s stock worth $28,000 after acquiring an additional 201 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Lumentum by 67.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company’s stock worth $42,000 after acquiring an additional 270 shares during the period. Finally, Mcdonald Partners LLC raised its stake in Lumentum by 1.6% during the 2nd quarter. Mcdonald Partners LLC now owns 19,830 shares of the technology company’s stock valued at $1,010,000 after purchasing an additional 318 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Craig Hallum lifted their target price on shares of Lumentum from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Morgan Stanley boosted their target price on shares of Lumentum from $61.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Rosenblatt Securities raised their target price on Lumentum from $69.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Jefferies Financial Group increased their price objective on Lumentum from $53.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Barclays raised their price objective on Lumentum from $40.00 to $80.00 and gave the stock an “underweight” rating in a research report on Monday, November 11th. Three analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Lumentum has an average rating of “Hold” and a consensus price target of $74.85.

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.