Insider Selling: Lumentum Holdings Inc. (NASDAQ:LITE) CFO Sells 2,172 Shares of Stock

Lumentum Holdings Inc. (NASDAQ:LITE) CFO Wajid Ali sold 2,172 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 51,976 shares in the company, valued at approximately $4,071,799.84. This trade represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Down 1.2 %

NASDAQ LITE traded down $0.95 during midday trading on Thursday, hitting $76.34. 2,888,147 shares of the company traded hands, compared to its average volume of 2,415,895. The company has a debt-to-equity ratio of 2.94, a current ratio of 4.76 and a quick ratio of 3.60. The company has a market cap of $5.28 billion, a PE ratio of -9.93 and a beta of 0.94. The company’s 50-day simple moving average is $85.90 and its 200-day simple moving average is $73.22. Lumentum Holdings Inc. has a 52 week low of $38.28 and a 52 week high of $104.00.

Lumentum (NASDAQ:LITE) last announced its 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, equities research analysts forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on LITE shares. Morgan Stanley reduced their price target on Lumentum from $83.00 to $81.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Barclays upgraded Lumentum from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $80.00 to $125.00 in a report on Friday, January 17th. Stifel Nicolaus increased their price target on Lumentum from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, February 7th. UBS Group increased their price target on Lumentum from $93.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Finally, Raymond James increased their price target on Lumentum from $94.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to 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 and other institutional investors have recently bought and sold shares of the stock. Capital World Investors boosted its position in Lumentum by 108.3% during the 4th quarter. Capital World Investors now owns 3,600,132 shares of the technology company’s stock valued at $302,231,000 after acquiring an additional 1,871,572 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Lumentum by 1.4% in the 4th quarter. Alliancebernstein L.P. now owns 1,711,956 shares of the technology company’s stock worth $143,719,000 after purchasing an additional 23,136 shares in the last quarter. Atreides Management LP boosted its position in shares of Lumentum by 28.5% in the 3rd quarter. Atreides Management LP now owns 1,691,017 shares of the technology company’s stock worth $107,177,000 after purchasing an additional 375,389 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of Lumentum by 98.9% in the 4th quarter. Nuveen Asset Management LLC now owns 1,228,371 shares of the technology company’s stock worth $103,122,000 after purchasing an additional 610,938 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Lumentum by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,195,605 shares of the technology company’s stock worth $100,402,000 after purchasing an additional 9,442 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

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.