Lumentum Holdings Inc. (LITE) Director Penny Herscher Sells 822 Shares
Lumentum Holdings Inc. (NASDAQ:LITE) Director Penny Herscher sold 822 shares of Lumentum stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $50.61, for a total value of $41,601.42. Following the completion of the transaction, the director now owns 34,793 shares of the company’s stock, valued at approximately $1,760,873.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Lumentum Holdings Inc. (NASDAQ LITE) traded up $3.90 during mid-day trading on Monday, reaching $53.50. The company had a trading volume of 3,134,574 shares, compared to its average volume of 1,842,495. The company has a current ratio of 5.21, a quick ratio of 4.38 and a debt-to-equity ratio of 0.50. Lumentum Holdings Inc. has a 12 month low of $34.15 and a 12 month high of $68.63. The firm has a market cap of $3,070.00 and a PE ratio of 34.69.
Several equities analysts recently weighed in on the company. Rosenblatt Securities set a $75.00 price target on Lumentum and gave the company a “buy” rating in a research note on Tuesday, October 24th. Zacks Investment Research lowered Lumentum from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Piper Jaffray Companies restated an “overweight” rating and issued a $68.00 price target on shares of Lumentum in a research note on Thursday, September 14th. BidaskClub lowered Lumentum from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Finally, MKM Partners upgraded Lumentum from a “neutral” rating to a “buy” rating and set a $66.00 price target for the company in a research note on Wednesday, September 27th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $68.25.
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Lumentum 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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