Lumentum Holdings Inc. (NASDAQ:LITE)’s share price traded down 2.9% during trading on Tuesday . The company traded as low as $39.34 and last traded at $39.36, with a volume of 645,633 shares. The stock had previously closed at $40.55.

A number of equities analysts have commented on the stock. B. Riley reiterated a “buy” rating and issued a $41.50 target price on shares of Lumentum Holdings in a report on Monday, August 15th. Needham & Company LLC reiterated a “buy” rating and issued a $35.00 target price on shares of Lumentum Holdings in a report on Wednesday, June 15th. Zacks Investment Research upgraded shares of Lumentum Holdings from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 6th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Lumentum Holdings in a report on Monday, August 8th. Finally, Stifel Nicolaus boosted their target price on shares of Lumentum Holdings from $31.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, August 10th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $35.29.

The firm’s market cap is $2.40 billion. The firm has a 50-day moving average of $34.34 and a 200 day moving average of $27.61.

Lumentum Holdings (NASDAQ:LITE) last announced its earnings results on Tuesday, August 9th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. Lumentum Holdings had a return on equity of 11.91% and a net margin of 1.01%. The company earned $241.70 million during the quarter, compared to analysts’ expectations of $238.52 million. During the same period last year, the business posted $0.15 EPS. Lumentum Holdings’s revenue for the quarter was up 15.7% on a year-over-year basis. Analysts expect that Lumentum Holdings Inc. will post $1.84 earnings per share for the current year.

In related news, CEO Alan S. Lowe sold 23,610 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $35.45, for a total transaction of $836,974.50. Following the completion of the transaction, the chief executive officer now directly owns 140,302 shares in the company, valued at approximately $4,973,705.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Vincent Retort sold 39,473 shares of the firm’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $30.00, for a total value of $1,184,190.00. Following the transaction, the chief operating officer now owns 40,060 shares of the company’s stock, valued at $1,201,800. The disclosure for this sale can be found here.

A number of institutional investors have recently made changes to their positions in LITE. Mason Street Advisors LLC purchased a new position in shares of Lumentum Holdings during the second quarter worth approximately $224,000. Wolverine Asset Management LLC purchased a new position in shares of Lumentum Holdings during the second quarter worth approximately $605,000. Schwab Charles Investment Management Inc. boosted its position in shares of Lumentum Holdings by 96.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 189,881 shares of the company’s stock worth $4,596,000 after buying an additional 92,984 shares during the period. Stifel Financial Corp purchased a new position in shares of Lumentum Holdings during the second quarter worth approximately $312,000. Finally, American Century Companies Inc. purchased a new position in shares of Lumentum Holdings during the second quarter worth approximately $354,000. Institutional investors own 75.85% of the company’s stock.

Lumentum Holdings Company Profile

Lumentum Holdings Inc (Lumentum) is a provider of optical and photonic products. The Company’s products are used in a range of end markets, including data communications (Datacom) and telecommunications (Telecom) networking, and industrial and commercial lasers (commercial lasers) for manufacturing, inspection and life-sciences applications.

5 Day Chart for NASDAQ:LITE

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