Lumentum Holdings Inc. (NASDAQ:LITE) CEO Alan S. Lowe sold 4,364 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $54.59, for a total transaction of $238,230.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of Lumentum Holdings Inc. (LITE) traded up 2.75% during midday trading on Wednesday, hitting $56.05. 2,193,344 shares of the company were exchanged. The company’s market capitalization is $3.45 billion. The company has a 50-day moving average of $55.98 and a 200 day moving average of $55.98. Lumentum Holdings Inc. has a one year low of $32.90 and a one year high of $60.00.

Lumentum Holdings (NASDAQ:LITE) last posted its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.18. The business had revenue of $222.70 million during the quarter, compared to the consensus estimate of $229.45 million. Lumentum Holdings had a positive return on equity of 18.12% and a negative net margin of 10.25%. Lumentum Holdings’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 earnings per share. On average, equities research analysts expect that Lumentum Holdings Inc. will post $3.01 earnings per share for the current fiscal year.

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A number of equities analysts have recently issued reports on LITE shares. Needham & Company LLC increased their price objective on shares of Lumentum Holdings from $56.00 to $80.00 and gave the company a “strong-buy” rating in a research note on Monday, June 12th. Stifel Nicolaus restated a “buy” rating and issued a $73.00 price objective (up previously from $53.00) on shares of Lumentum Holdings in a research note on Thursday, June 22nd. DA Davidson started coverage on shares of Lumentum Holdings in a research note on Thursday, June 22nd. They issued a “neutral” rating and a $77.00 price objective for the company. BidaskClub upgraded shares of Lumentum Holdings from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. Finally, B. Riley restated a “buy” rating and issued a $77.00 price objective (up previously from $58.00) on shares of Lumentum Holdings in a research note on Tuesday, June 27th. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Lumentum Holdings currently has an average rating of “Buy” and a consensus target price of $66.06.

A number of hedge funds have recently bought and sold shares of the stock. Suntrust Banks Inc. raised its stake in Lumentum Holdings by 0.4% in the second quarter. Suntrust Banks Inc. now owns 9,468 shares of the technology company’s stock valued at $539,000 after purchasing an additional 37 shares in the last quarter. LS Investment Advisors LLC raised its stake in Lumentum Holdings by 2.1% in the second quarter. LS Investment Advisors LLC now owns 3,569 shares of the technology company’s stock valued at $204,000 after purchasing an additional 75 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in Lumentum Holdings by 1.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 12,500 shares of the technology company’s stock valued at $667,000 after purchasing an additional 200 shares in the last quarter. Arizona State Retirement System raised its stake in Lumentum Holdings by 0.7% in the second quarter. Arizona State Retirement System now owns 29,060 shares of the technology company’s stock valued at $1,658,000 after purchasing an additional 200 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in Lumentum Holdings by 6.6% in the second quarter. Stifel Financial Corp now owns 7,271 shares of the technology company’s stock valued at $415,000 after purchasing an additional 447 shares in the last quarter. 95.74% of the stock is owned by institutional investors and hedge funds.

Lumentum Holdings Company Profile

Lumentum Holdings Inc is a provider of optical and photonic products for a range of end market applications, including data communications (Datacom) and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Company operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers).

Insider Buying and Selling by Quarter for Lumentum Holdings (NASDAQ:LITE)

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