Penny Herscher Sells 1,625 Shares of Lumentum Holdings Inc. (NASDAQ:LITE) Stock

Lumentum Holdings Inc. (NASDAQ:LITE) Director Penny Herscher sold 1,625 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $81.09, for a total value of $131,771.25. Following the completion of the transaction, the director now owns 6,852 shares of the company’s stock, valued at approximately $555,628.68. This trade represents a 19.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Lumentum Trading Up 4.1 %

NASDAQ LITE opened at $89.09 on Friday. The stock’s 50-day moving average price is $68.76 and its 200-day moving average price is $56.47. The company has a quick ratio of 4.04, a current ratio of 5.36 and a debt-to-equity ratio of 2.87. Lumentum Holdings Inc. has a 52 week low of $38.28 and a 52 week high of $90.51.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Signaturefd LLC raised its stake in shares of Lumentum by 13.8% in the third quarter. Signaturefd LLC now owns 1,302 shares of the technology company’s stock worth $83,000 after buying an additional 158 shares during the period. Quarry LP raised 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 buying an additional 201 shares during the period. Nomura Asset Management Co. Ltd. raised 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 during the period. Mcdonald Partners LLC raised its stake in shares of Lumentum by 1.6% in the second quarter. Mcdonald Partners LLC now owns 19,830 shares of the technology company’s stock worth $1,010,000 after buying an additional 318 shares during the period. Finally, Arizona State Retirement System raised its stake in shares of Lumentum by 2.5% in the second quarter. Arizona State Retirement System now owns 18,868 shares of the technology company’s stock worth $961,000 after buying an additional 455 shares during the period. Institutional investors own 94.05% of the company’s stock.

Wall Street Analysts Forecast Growth

LITE has been the subject of a number of research reports. B. Riley increased their price objective on Lumentum from $40.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Jefferies Financial Group increased their target price on Lumentum from $53.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Raymond James increased their target price on Lumentum from $70.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Morgan Stanley increased their target price on Lumentum from $61.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. increased their target price on Lumentum from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average 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.