Lumentum Holdings Inc. (NASDAQ:LITE) Insider Sells $3,733,879.20 in Stock

Lumentum Holdings Inc. (NASDAQ:LITE) insider Vincent Retort sold 41,710 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $89.52, for a total transaction of $3,733,879.20. Following the transaction, the insider now directly owns 147,515 shares of the company’s stock, valued at $13,205,542.80. The trade was a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Lumentum Price Performance

LITE stock opened at $86.98 on Wednesday. The company has a market capitalization of $5.98 billion, a PE ratio of -10.50 and a beta of 0.88. The company’s fifty day moving average price is $70.04 and its 200-day moving average price is $57.30. Lumentum Holdings Inc. has a one year low of $38.28 and a one year high of $91.21. The company has a debt-to-equity ratio of 2.87, a quick ratio of 4.04 and a current ratio of 5.36.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Synovus Financial Corp increased its holdings in shares of Lumentum by 1.5% in the third quarter. Synovus Financial Corp now owns 13,225 shares of the technology company’s stock worth $838,000 after purchasing an additional 200 shares during the last quarter. Tidal Investments LLC grew its holdings in Lumentum by 35.6% during the 3rd quarter. Tidal Investments LLC now owns 18,669 shares of the technology company’s stock valued at $1,183,000 after buying an additional 4,899 shares in the last quarter. Geode Capital Management LLC increased its stake in Lumentum by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,186,163 shares of the technology company’s stock worth $75,198,000 after acquiring an additional 15,799 shares during the last quarter. M&T Bank Corp raised its holdings in shares of Lumentum by 69.1% during the 3rd quarter. M&T Bank Corp now owns 11,743 shares of the technology company’s stock worth $745,000 after acquiring an additional 4,798 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Lumentum by 67.5% during the 3rd 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 last quarter. Institutional investors own 94.05% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LITE shares. Morgan Stanley increased their price target on Lumentum from $61.00 to $76.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Bank of America raised their target price on Lumentum from $45.00 to $50.00 and gave the stock an “underperform” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price target on Lumentum from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Needham & Company LLC increased their price objective on shares of Lumentum from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Barclays boosted their target price on shares of Lumentum from $40.00 to $80.00 and gave the company an “underweight” rating in a research report on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.