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 business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total transaction of $170,154.48. Following the transaction, the chief financial officer now owns 51,976 shares in the company, valued at $4,071,799.84. The trade was a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 Trading Down 3.9 %

LITE opened at $73.35 on Friday. The company has a quick ratio of 3.60, a current ratio of 4.76 and a debt-to-equity ratio of 2.94. The firm has a market cap of $5.08 billion, a P/E ratio of -9.54 and a beta of 0.94. Lumentum Holdings Inc. has a 52 week low of $38.28 and a 52 week high of $104.00. The business has a fifty day simple moving average of $85.22 and a 200-day simple moving average of $73.46.

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

Analysts Set New Price Targets

LITE has been the subject of several recent research reports. Stifel Nicolaus increased their price target on Lumentum from $95.00 to $105.00 and gave the company a “buy” rating in a report on Friday, February 7th. UBS Group boosted their price target on shares of Lumentum from $93.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Needham & Company LLC restated a “buy” rating and set a $110.00 price objective on shares of Lumentum in a research report on Friday, February 7th. Northland Securities lifted their target price on shares of Lumentum from $60.00 to $70.00 and gave the stock a “market perform” rating in a research note on Friday, February 7th. Finally, Raymond James increased their price target on shares of Lumentum from $94.00 to $96.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Lumentum currently has a consensus rating of “Hold” and an average price target of $88.07.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Capital World Investors boosted its position in Lumentum by 108.3% in the 4th quarter. Capital World Investors now owns 3,600,132 shares of the technology company’s stock valued at $302,231,000 after buying an additional 1,871,572 shares during the period. Norges Bank purchased a new position in Lumentum in the fourth quarter valued at $68,962,000. Nuveen Asset Management LLC grew its stake in Lumentum by 98.9% during the 4th quarter. Nuveen Asset Management LLC now owns 1,228,371 shares of the technology company’s stock worth $103,122,000 after purchasing an additional 610,938 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in Lumentum by 419.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 444,147 shares of the technology company’s stock worth $37,286,000 after purchasing an additional 583,330 shares in the last quarter. Finally, Capital Research Global Investors purchased a new stake in Lumentum during the 4th quarter worth about $42,415,000. Institutional investors and hedge funds 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.