Insider Selling: Lumentum Holdings Inc. (NASDAQ:LITE) Director Sells $131,771.25 in Stock

Lumentum Holdings Inc. (NASDAQ:LITE) Director Penny Herscher sold 1,625 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $81.09, for a total value of $131,771.25. Following the completion of the sale, the director now owns 6,852 shares of the company’s stock, valued at $555,628.68. This trade represents a 19.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Lumentum Stock Performance

Shares of NASDAQ LITE opened at $82.47 on Thursday. The business’s 50-day simple moving average is $68.13 and its 200-day simple moving average is $56.26. The company has a debt-to-equity ratio of 2.87, a quick ratio of 4.04 and a current ratio of 5.36. Lumentum Holdings Inc. has a 52 week low of $38.28 and a 52 week high of $89.70. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of -9.96 and a beta of 0.88.

Institutional Investors Weigh In On Lumentum

Large investors have recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its stake in shares of Lumentum by 13.8% in the third quarter. Signaturefd LLC now owns 1,302 shares of the technology company’s stock worth $83,000 after buying an additional 158 shares during the last quarter. Quarry LP boosted its holdings in Lumentum by 85.5% during the third quarter. Quarry LP now owns 436 shares of the technology company’s stock valued at $28,000 after acquiring an additional 201 shares during the period. 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 acquiring an additional 270 shares during the period. Mcdonald Partners LLC grew its position in shares of Lumentum by 1.6% in the second quarter. Mcdonald Partners LLC now owns 19,830 shares of the technology company’s stock valued at $1,010,000 after purchasing an additional 318 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Lumentum by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 18,868 shares of the technology company’s stock worth $961,000 after purchasing an additional 455 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on LITE. Craig Hallum upped their price objective on Lumentum from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. increased their target price on shares of Lumentum from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. B. Riley boosted their price objective on Lumentum from $40.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Raymond James lifted their price objective on shares of Lumentum from $70.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Rosenblatt Securities raised their price objective on Lumentum from $69.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Lumentum 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.