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 the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $85.82, for a total value of $176,617.56. Following the transaction, the director now owns 23,287 shares in the company, valued at approximately $1,998,490.34. This trade represents a 8.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Lumentum Price Performance

Shares of NASDAQ:LITE opened at $83.77 on Thursday. The firm has a market capitalization of $5.75 billion, a PE ratio of -10.12 and a beta of 0.88. The company has a current ratio of 5.36, a quick ratio of 4.04 and a debt-to-equity ratio of 2.87. Lumentum Holdings Inc. has a 1-year low of $38.28 and a 1-year high of $91.21. The business’s 50 day moving average is $70.61 and its 200-day moving average is $57.60.

Institutional Investors Weigh In On Lumentum

Institutional investors have recently bought and sold shares of the business. Quarry LP lifted its holdings in shares of Lumentum by 85.5% during the 3rd quarter. Quarry LP now owns 436 shares of the technology company’s stock worth $28,000 after acquiring an additional 201 shares during the period. Capital Performance Advisors LLP acquired a new position in Lumentum in the third quarter worth about $33,000. Point72 DIFC Ltd bought a new position in Lumentum during the second quarter worth about $36,000. Nomura Asset Management Co. Ltd. boosted its holdings in Lumentum by 67.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company’s stock valued at $42,000 after purchasing an additional 270 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Lumentum by 141.6% in the 3rd quarter. GAMMA Investing LLC now owns 894 shares of the technology company’s stock valued at $57,000 after purchasing an additional 524 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LITE. Needham & Company LLC raised their price objective on Lumentum from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Northland Securities lifted their price target on shares of Lumentum from $45.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. upped their price objective on shares of Lumentum from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Raymond James raised their target price on shares of Lumentum from $70.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Susquehanna boosted their target price on shares of Lumentum from $80.00 to $115.00 and gave the stock a “positive” rating in a research report on Friday, November 8th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.