Lumentum Holdings Inc (NASDAQ:LITE) EVP Jason Reinhardt sold 253 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $58.26, for a total transaction of $14,739.78. Following the completion of the sale, the executive vice president now owns 62,666 shares in the company, valued at $3,650,921.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Jason Reinhardt also recently made the following trade(s):

  • On Monday, August 19th, Jason Reinhardt sold 1,228 shares of Lumentum stock. The stock was sold at an average price of $59.87, for a total transaction of $73,520.36.

NASDAQ LITE opened at $60.09 on Thursday. The stock’s 50-day moving average price is $56.06 and its two-hundred day moving average price is $52.82. The company has a current ratio of 4.53, a quick ratio of 3.76 and a debt-to-equity ratio of 0.56. The company has a market cap of $4.61 billion, a PE ratio of 18.21, a PEG ratio of 1.15 and a beta of 1.36. Lumentum Holdings Inc has a 1 year low of $37.00 and a 1 year high of $69.95.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.21. The firm had revenue of $404.60 million for the quarter, compared to the consensus estimate of $383.54 million. Lumentum had a positive return on equity of 18.19% and a negative net margin of 2.33%. The business’s revenue for the quarter was up 34.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.95 EPS. Research analysts forecast that Lumentum Holdings Inc will post 3.75 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Private Capital Group LLC grew its stake in Lumentum by 5,481.8% during the 2nd quarter. Private Capital Group LLC now owns 614 shares of the technology company’s stock valued at $36,000 after acquiring an additional 603 shares in the last quarter. Advisory Services Network LLC grew its stake in Lumentum by 83.6% during the 2nd quarter. Advisory Services Network LLC now owns 953 shares of the technology company’s stock valued at $51,000 after acquiring an additional 434 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Lumentum by 31.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,633 shares of the technology company’s stock valued at $87,000 after acquiring an additional 386 shares in the last quarter. First Manhattan Co. grew its stake in Lumentum by 150.0% during the 2nd quarter. First Manhattan Co. now owns 2,500 shares of the technology company’s stock valued at $133,000 after acquiring an additional 1,500 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in Lumentum by 95.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 2,919 shares of the technology company’s stock valued at $153,000 after acquiring an additional 1,422 shares in the last quarter. Hedge funds and other institutional investors own 94.74% of the company’s stock.

LITE has been the topic of several research reports. UBS Group set a $70.00 price target on shares of Lumentum and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $80.00 price target on shares of Lumentum in a research report on Tuesday, May 7th. Zacks Investment Research cut shares of Lumentum from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 10th. MKM Partners restated a “buy” rating and set a $76.00 price objective (up previously from $60.00) on shares of Lumentum in a report on Friday, August 9th. Finally, Craig Hallum boosted their price objective on Lumentum from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $69.13.

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 and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.

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