Lumentum Holdings Inc. (NASDAQ:LITE) CFO Sells $170,154.48 in Stock

Lumentum Holdings Inc. (NASDAQ:LITE) CFO Wajid Ali sold 2,172 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total value of $170,154.48. Following the sale, the chief financial officer now owns 51,976 shares of the company’s stock, valued at $4,071,799.84. This represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Wajid Ali also recently made the following trade(s):

• On Friday, November 29th, Wajid Ali sold 29,887 shares of Lumentum stock. The stock was sold at an average price of $85.06, for a total transaction of $2,542,188.22.

Lumentum Price Performance

LITE stock opened at $76.34 on Friday. Lumentum Holdings Inc. has a 12-month low of $38.28 and a 12-month high of $104.00. The stock’s 50 day simple moving average is $85.61 and its 200 day simple moving average is $73.24. The company has a quick ratio of 3.60, a current ratio of 4.76 and a debt-to-equity ratio of 2.94.

Lumentum (NASDAQ:LITE) last posted its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. Research analysts expect that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on LITE. Northland Securities boosted their price objective on shares of Lumentum from $60.00 to $70.00 and gave the company a “market perform” rating in a research report on Friday, February 7th. Morgan Stanley reduced their price objective on shares of Lumentum from $83.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Barclays upgraded shares of Lumentum from an “underweight” rating to an “overweight” rating and boosted their price target for the company from $80.00 to $125.00 in a research report on Friday, January 17th. Raymond James lifted their price objective on Lumentum from $94.00 to $96.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Susquehanna upped their price target on Lumentum from $80.00 to $115.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $88.07.

Institutional Investors Weigh In On Lumentum

A number of large investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. grew its holdings in shares of Lumentum by 301.2% in the fourth quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock worth $28,000 after acquiring an additional 253 shares during the period. Jones Financial Companies Lllp increased its position in shares of Lumentum by 54.2% during the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock valued at $31,000 after purchasing an additional 130 shares during the last quarter. CoreCap Advisors LLC lifted its stake in shares of Lumentum by 2,235.3% in the 4th quarter. CoreCap Advisors LLC now owns 397 shares of the technology company’s stock worth $33,000 after purchasing an additional 380 shares during the period. Quarry LP grew its position in Lumentum by 85.5% during 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 period. Finally, J.Safra Asset Management Corp raised its position in Lumentum by 31.1% in the fourth quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company’s stock worth $43,000 after acquiring an additional 122 shares during the period. Institutional investors 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.