Alan S. Lowe Sells 4,364 Shares of Lumentum Holdings Inc. (LITE) Stock
Lumentum Holdings Inc. (NASDAQ:LITE) CEO Alan S. Lowe sold 4,364 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $54.59, for a total transaction of $238,230.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Lumentum Holdings Inc. (LITE) opened at 55.30 on Friday. Lumentum Holdings Inc. has a 12-month low of $32.90 and a 12-month high of $60.00. The stock’s market cap is $3.40 billion. The company has a 50-day moving average of $55.94 and a 200 day moving average of $55.94.
Lumentum Holdings (NASDAQ:LITE) last announced its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.18. The business had revenue of $222.70 million during the quarter, compared to analysts’ expectations of $229.45 million. Lumentum Holdings had a positive return on equity of 18.12% and a negative net margin of 10.25%. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 EPS. Equities analysts anticipate that Lumentum Holdings Inc. will post $3.04 earnings per share for the current year.
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Several research firms recently issued reports on LITE. B. Riley reissued a “buy” rating and issued a $77.00 target price on shares of Lumentum Holdings in a research report on Thursday, August 3rd. Jefferies Group LLC reissued a “buy” rating and issued a $75.00 target price on shares of Lumentum Holdings in a research report on Friday. Barclays PLC raised their target price on shares of Lumentum Holdings from $50.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 10th. Piper Jaffray Companies reissued an “overweight” rating and issued a $68.00 target price on shares of Lumentum Holdings in a research report on Thursday, August 10th. Finally, Needham & Company LLC reissued a “strong-buy” rating and issued a $80.00 target price on shares of Lumentum Holdings in a research report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $66.25.
Several hedge funds and other institutional investors have recently made changes to their positions in LITE. BlackRock Inc. grew its stake in shares of Lumentum Holdings by 151,490.5% in the 1st quarter. BlackRock Inc. now owns 6,441,080 shares of the technology company’s stock valued at $343,632,000 after buying an additional 6,436,831 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Lumentum Holdings by 702.0% in the 1st quarter. Wellington Management Group LLP now owns 1,480,805 shares of the technology company’s stock valued at $79,000,000 after buying an additional 1,296,173 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Lumentum Holdings by 71.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,662,272 shares of the technology company’s stock valued at $151,883,000 after buying an additional 1,107,107 shares in the last quarter. Whale Rock Capital Management LLC bought a new stake in shares of Lumentum Holdings in the 1st quarter valued at approximately $51,341,000. Finally, Columbus Circle Investors bought a new stake in shares of Lumentum Holdings in the 2nd quarter valued at approximately $34,743,000. 95.74% of the stock is owned by institutional investors and hedge funds.
Lumentum Holdings Company Profile
Lumentum Holdings Inc is a provider of optical and photonic products for a range of end market applications, including data communications (Datacom) and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Company operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers).
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