Wajid Ali Sells 2,172 Shares of Lumentum Holdings Inc. (NASDAQ:LITE) Stock

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

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

NASDAQ LITE opened at $73.35 on Friday. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of -9.54 and a beta of 0.94. The stock has a 50-day moving average of $85.22 and a 200 day moving average of $73.46. The company has a current ratio of 4.76, a quick ratio of 3.60 and a debt-to-equity ratio of 2.94. Lumentum Holdings Inc. has a twelve month low of $38.28 and a twelve month 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 for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative return on equity of 7.25% and a negative net margin of 36.98%. Sell-side analysts anticipate that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Morgan Stanley lowered their target price on shares of Lumentum from $83.00 to $81.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Stifel Nicolaus lifted their price objective on shares of Lumentum from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Jefferies Financial Group assumed coverage on Lumentum in a research report on Friday. They issued a “buy” rating on the stock. Barclays raised Lumentum from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $80.00 to $125.00 in a research report on Friday, January 17th. Finally, Needham & Company LLC reiterated a “buy” rating and set 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $88.07.

Hedge Funds Weigh In On Lumentum

A number of large investors have recently added to or reduced their stakes in LITE. J.Safra Asset Management Corp increased its stake in shares of Lumentum by 31.1% during the fourth quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company’s stock worth $43,000 after purchasing an additional 122 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Lumentum by 54.2% in the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock worth $31,000 after buying an additional 130 shares during the last quarter. Signaturefd LLC increased its stake in Lumentum by 13.8% during the 3rd 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 raised its holdings in shares of Lumentum by 27.2% during the fourth quarter. Quadrant Capital Group LLC now owns 766 shares of the technology company’s stock valued at $64,000 after acquiring an additional 164 shares during 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 valued at $365,000 after acquiring an additional 168 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

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.