Jason Reinhardt Sells 9,308 Shares of Lumentum Holdings Inc (LITE) Stock

Lumentum Holdings Inc (NASDAQ:LITE) EVP Jason Reinhardt sold 9,308 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $56.82, for a total transaction of $528,880.56. Following the completion of the transaction, the executive vice president now directly owns 59,635 shares of the company’s stock, valued at approximately $3,388,460.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Lumentum Holdings Inc (LITE) traded down $0.30 during trading on Tuesday, hitting $56.90. 1,967,600 shares of the stock were exchanged, compared to its average volume of 2,842,673. The stock has a market cap of $3,569.28, a P/E ratio of 39.38, a price-to-earnings-growth ratio of 1.02 and a beta of 0.56. Lumentum Holdings Inc has a twelve month low of $40.35 and a twelve month high of $68.63. The company has a quick ratio of 4.16, a current ratio of 4.84 and a debt-to-equity ratio of 0.38.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.67. The business had revenue of $404.60 million for the quarter, compared to the consensus estimate of $357.03 million. Lumentum had a net margin of 8.97% and a return on equity of 24.06%. The business’s revenue was up 52.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 EPS. equities research analysts forecast that Lumentum Holdings Inc will post 2.85 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC purchased a new stake in shares of Lumentum in the 4th quarter valued at approximately $128,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Lumentum by 42.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,797 shares of the technology company’s stock worth $186,000 after buying an additional 1,135 shares during the period. Virtu KCG Holdings LLC purchased a new stake in Lumentum during the 2nd quarter worth approximately $226,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Lumentum during the 3rd quarter worth approximately $234,000. Finally, First Allied Advisory Services Inc. purchased a new stake in Lumentum during the 3rd quarter worth approximately $237,000.

Several research analysts have commented on the stock. Zacks Investment Research downgraded shares of Lumentum from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Rosenblatt Securities set a $75.00 target price on shares of Lumentum and gave the company a “buy” rating in a research report on Tuesday, October 24th. Jefferies Group reissued a “buy” rating and issued a $75.00 price objective on shares of Lumentum in a research report on Wednesday, November 1st. Craig Hallum reissued a “buy” rating and issued a $85.00 price objective (up from $75.00) on shares of Lumentum in a research report on Wednesday, November 1st. Finally, DA Davidson raised their target price on shares of Lumentum from $82.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the stock. Lumentum currently has an average rating of “Buy” and an average price target of $72.31.

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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).

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

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