Lumentum Holdings Inc (NASDAQ:LITE) Director Harold L. Covert sold 7,564 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $56.58, for a total transaction of $427,971.12. Following the completion of the transaction, the director now owns 22,628 shares in the company, valued at $1,280,292.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of Lumentum Holdings Inc (NASDAQ:LITE) traded down $0.30 on Tuesday, reaching $56.90. 1,967,600 shares of the company traded hands, compared to its average volume of 2,842,673. Lumentum Holdings Inc has a 1 year low of $40.35 and a 1 year high of $68.63. The stock has a market cap of $3,569.28, a P/E ratio of 39.38, a P/E/G ratio of 1.02 and a beta of 0.56. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.16 and a current ratio of 4.84.
Lumentum (NASDAQ:LITE) last announced its earnings results on Tuesday, February 6th. The technology company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.67. Lumentum had a net margin of 8.97% and a return on equity of 24.06%. The firm had revenue of $404.60 million for the quarter, compared to the consensus estimate of $357.03 million. During the same period in the prior year, the firm earned $0.57 EPS. The firm’s revenue for the quarter was up 52.7% on a year-over-year basis. research analysts predict that Lumentum Holdings Inc will post 2.85 earnings per share for the current year.
LITE has been the topic of several recent analyst reports. TheStreet upgraded shares of Lumentum from a “c” rating to a “b-” rating in a report on Wednesday, February 7th. Rosenblatt Securities set a $75.00 price objective on shares of Lumentum and gave the stock a “buy” rating in a report on Tuesday, October 24th. B. Riley restated a “buy” rating and issued a $89.00 price objective on shares of Lumentum in a report on Wednesday, December 13th. DA Davidson upped their price objective on shares of Lumentum from $82.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Finally, Craig Hallum restated a “buy” rating and issued a $85.00 price objective (up from $75.00) on shares of Lumentum in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $72.31.
Lumentum 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).
Receive News & Ratings for Lumentum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumentum and related companies with MarketBeat.com's FREE daily email newsletter.