Lumentum Holdings Inc. (NASDAQ:LITE) Director Julia Suzanne Johnson Sells 2,058 Shares

Lumentum Holdings Inc. (NASDAQ:LITE) Director Julia Suzanne Johnson sold 2,058 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $85.82, for a total transaction of $176,617.56. Following the sale, the director now directly owns 23,287 shares in the company, valued at approximately $1,998,490.34. The trade was a 8.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Lumentum Price Performance

NASDAQ:LITE traded down $0.22 during trading hours on Tuesday, reaching $86.98. 1,144,386 shares of the company were exchanged, compared to its average volume of 1,493,729. The business has a 50 day moving average of $70.04 and a 200 day moving average of $57.30. The company has a market capitalization of $5.98 billion, a P/E ratio of -10.49 and a beta of 0.88. The company has a debt-to-equity ratio of 2.87, a current ratio of 5.36 and a quick ratio of 4.04. Lumentum Holdings Inc. has a 1-year low of $38.28 and a 1-year high of $91.21.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LITE. Swedbank AB bought a new position in Lumentum during the first quarter worth $71,025,000. Atreides Management LP raised its position in Lumentum by 28.5% in the third quarter. Atreides Management LP now owns 1,691,017 shares of the technology company’s stock worth $107,177,000 after acquiring an additional 375,389 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Lumentum during the 3rd quarter worth $17,981,000. Van Lanschot Kempen Investment Management N.V. raised its holdings in Lumentum by 17.8% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,154,805 shares of the technology company’s stock valued at $58,803,000 after acquiring an additional 174,828 shares during the period. Finally, Pinnacle Associates Ltd. lifted its holdings in shares of Lumentum by 50.4% in the third quarter. Pinnacle Associates Ltd. now owns 407,789 shares of the technology company’s stock worth $25,846,000 after buying an additional 136,659 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Bank of America increased their price objective on Lumentum from $45.00 to $50.00 and gave the stock an “underperform” rating in a research report on Thursday, August 15th. Craig Hallum boosted their price target on Lumentum from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Raymond James raised their price objective on Lumentum from $70.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. B. Riley lifted their price target on shares of Lumentum from $40.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Finally, Jefferies Financial Group increased their target price on Lumentum from $53.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Lumentum presently has an average rating of “Hold” and an average target price of $74.85.

About Lumentum

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.