Lumentum Holdings Inc. (NASDAQ:LITE) CFO Sells $170,154.48 in Stock

Lumentum Holdings Inc. (NASDAQ:LITE) CFO Wajid Ali sold 2,172 shares of Lumentum stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total value of $170,154.48. Following the transaction, the chief financial officer now owns 51,976 shares of the company’s stock, valued at $4,071,799.84. The trade was a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Wajid Ali also recently made the following trade(s):

• On Friday, November 29th, Wajid Ali sold 29,887 shares of Lumentum stock. The stock was sold at an average price of $85.06, for a total value of $2,542,188.22.

Lumentum Stock Performance

Lumentum stock traded down $0.95 during mid-day trading on Thursday, reaching $76.34. 2,888,147 shares of the stock traded hands, compared to its average volume of 2,415,895. The stock has a market capitalization of $5.28 billion, a PE ratio of -9.93 and a beta of 0.94. The company has a debt-to-equity ratio of 2.94, a current ratio of 4.76 and a quick ratio of 3.60. Lumentum Holdings Inc. has a 12-month low of $38.28 and a 12-month high of $104.00. The business’s 50-day moving average is $85.90 and its 200-day moving average is $73.22.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. As a group, sell-side analysts predict that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on LITE. Susquehanna boosted their price target on Lumentum from $80.00 to $115.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Barclays upgraded Lumentum from an “underweight” rating to an “overweight” rating and boosted their price target for the stock from $80.00 to $125.00 in a research note on Friday, January 17th. Raymond James boosted their price target on Lumentum from $94.00 to $96.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Northland Securities boosted their price target on Lumentum from $60.00 to $70.00 and gave the stock a “market perform” rating in a research note on Friday, February 7th. Finally, Needham & Company LLC restated a “buy” rating and issued a $110.00 price target on shares of Lumentum in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $88.07.

Institutional Trading of Lumentum

Several hedge funds have recently bought and sold shares of the stock. J.Safra Asset Management Corp lifted its position in shares of Lumentum by 31.1% in the fourth quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company’s stock worth $43,000 after buying an additional 122 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Lumentum by 54.2% in the fourth quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock worth $31,000 after buying an additional 130 shares in the last quarter. Signaturefd LLC lifted its position 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 in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Lumentum by 27.2% in the fourth quarter. Quadrant Capital Group LLC now owns 766 shares of the technology company’s stock worth $64,000 after buying an additional 164 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its position in shares of Lumentum by 4.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 4,350 shares of the technology company’s stock worth $365,000 after buying an additional 168 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

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.