Lumentum Holdings Inc. (NASDAQ:LITE) Insider Vincent Retort Sells 41,710 Shares

Lumentum Holdings Inc. (NASDAQ:LITE) insider Vincent Retort sold 41,710 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 147,515 shares in the company, valued at approximately $13,205,542.80. This represents a 22.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Lumentum Stock Down 0.3 %

Shares of LITE traded down $0.22 during trading hours on Tuesday, hitting $86.98. The company had a trading volume of 1,144,386 shares, compared to its average volume of 1,493,729. The company has a current ratio of 5.36, a quick ratio of 4.04 and a debt-to-equity ratio of 2.87. The company has a market capitalization of $5.98 billion, a PE ratio of -10.49 and a beta of 0.88. Lumentum Holdings Inc. has a one year low of $38.28 and a one year high of $91.21. The company’s fifty day moving average price is $70.04 and its two-hundred day moving average price is $57.30.

Wall Street Analyst Weigh In

Several equities analysts have commented on LITE shares. Jefferies Financial Group upped their price objective on Lumentum from $53.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Bank of America lifted their price objective on shares of Lumentum from $45.00 to $50.00 and gave the company an “underperform” rating in a report on Thursday, August 15th. Rosenblatt Securities boosted their price objective on shares of Lumentum from $69.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. raised their target price on shares of Lumentum from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Finally, Morgan Stanley boosted their price target on Lumentum from $61.00 to $76.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $74.85.

Institutional Trading of Lumentum

Several hedge funds have recently modified their holdings of the company. Swedbank AB acquired a new stake in shares of Lumentum in the 1st quarter worth $71,025,000. Atreides Management LP raised its stake in Lumentum by 28.5% in the third quarter. Atreides Management LP now owns 1,691,017 shares of the technology company’s stock valued at $107,177,000 after buying an additional 375,389 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in Lumentum in the third quarter worth about $17,981,000. Van Lanschot Kempen Investment Management N.V. grew its stake in shares of Lumentum by 17.8% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,154,805 shares of the technology company’s stock worth $58,803,000 after acquiring an additional 174,828 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its holdings in shares of Lumentum by 50.4% during the third quarter. Pinnacle Associates Ltd. now owns 407,789 shares of the technology company’s stock valued at $25,846,000 after acquiring an additional 136,659 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

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.