Lumentum Holdings Inc. (NASDAQ:LITE) Insider Yuen Wupen Sells 289 Shares

Lumentum Holdings Inc. (NASDAQ:LITE) insider Yuen Wupen sold 289 shares of the company’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $75.88, for a total value of $21,929.32. Following the sale, the insider now directly owns 81,008 shares in the company, valued at $6,146,887.04. This trade represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Yuen Wupen also recently made the following trade(s):

• On Friday, May 16th, Yuen Wupen sold 290 shares of Lumentum stock. The shares were sold at an average price of $77.98, for a total transaction of $22,614.20.
• On Thursday, May 15th, Yuen Wupen sold 4,716 shares of Lumentum stock. The shares were sold at an average price of $76.87, for a total transaction of $362,518.92.
• On Tuesday, May 13th, Yuen Wupen sold 4,426 shares of Lumentum stock. The stock was sold at an average price of $71.80, for a total transaction of $317,786.80.

Lumentum Trading Down 0.1%

Lumentum stock traded down $0.08 during mid-day trading on Monday, hitting $77.87. The company’s stock had a trading volume of 1,177,856 shares, compared to its average volume of 1,981,768. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76. The company has a 50 day moving average of $61.89 and a 200-day moving average of $75.22. Lumentum Holdings Inc. has a one year low of $38.29 and a one year high of $104.00. The stock has a market cap of $5.40 billion, a PE ratio of -10.13 and a beta of 1.18.

Lumentum (NASDAQ:LITE) last issued its earnings results on Tuesday, May 6th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. The firm had revenue of $425.20 million during the quarter, compared to analyst estimates of $418.18 million. Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. The business’s revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 earnings per share. On average, research analysts anticipate that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Institutional Investors Weigh In On Lumentum

Several large investors have recently added to or reduced their stakes in LITE. Vanguard Group Inc. increased its position in shares of Lumentum by 0.6% during the first quarter. Vanguard Group Inc. now owns 7,430,185 shares of the technology company’s stock worth $463,198,000 after acquiring an additional 47,811 shares during the period. Capital World Investors grew its stake in Lumentum by 108.3% in the fourth quarter. Capital World Investors now owns 3,600,132 shares of the technology company’s stock worth $302,231,000 after purchasing an additional 1,871,572 shares in the last quarter. PointState Capital LP bought a new position in Lumentum in the first quarter worth approximately $213,503,000. Atreides Management LP increased its holdings in Lumentum by 6.8% during the 1st quarter. Atreides Management LP now owns 1,875,257 shares of the technology company’s stock worth $116,904,000 after purchasing an additional 119,938 shares during the period. Finally, Alliancebernstein L.P. raised its position in Lumentum by 1.1% during the 1st quarter. Alliancebernstein L.P. now owns 1,731,041 shares of the technology company’s stock valued at $107,913,000 after purchasing an additional 19,085 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LITE. Morgan Stanley lowered their price target on shares of Lumentum from $83.00 to $81.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. lowered their price objective on Lumentum from $105.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. BNP Paribas upgraded Lumentum from a “neutral” rating to an “outperform” rating and set a $92.00 target price for the company in a report on Tuesday, March 11th. Northland Capmk upgraded Lumentum from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Finally, Barclays set a $75.00 price target on Lumentum and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $82.20.

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.