Vincent Retort Sells 4,908 Shares of Lumentum Holdings Inc (NASDAQ:LITE) Stock

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Lumentum Holdings Inc (NASDAQ:LITE) COO Vincent Retort sold 4,908 shares of Lumentum stock in a transaction on Monday, August 19th. The stock was sold at an average price of $59.88, for a total transaction of $293,891.04. Following the transaction, the chief operating officer now directly owns 90,018 shares of the company’s stock, valued at approximately $5,390,277.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Vincent Retort also recently made the following trade(s):

  • On Friday, August 16th, Vincent Retort sold 993 shares of Lumentum stock. The stock was sold at an average price of $58.26, for a total transaction of $57,852.18.

NASDAQ:LITE opened at $59.71 on Thursday. 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 stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 1.15 and a beta of 1.36. The firm has a fifty day simple moving average of $56.06 and a two-hundred day simple moving average of $52.82. Lumentum Holdings Inc has a 12 month low of $37.00 and a 12 month high of $69.95.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.21. The business had revenue of $404.60 million during the quarter, compared to analysts’ expectations of $383.54 million. Lumentum had a negative net margin of 2.33% and a positive return on equity of 18.19%. The business’s quarterly revenue was up 34.4% on a year-over-year basis. During the same period last year, the company posted $0.95 earnings per share. Equities analysts predict that Lumentum Holdings Inc will post 3.75 earnings per share for the current fiscal year.

LITE has been the subject of a number of analyst reports. BidaskClub raised shares of Lumentum from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th. TheStreet downgraded shares of Lumentum from a “b-” rating to a “c+” rating in a research note on Monday, May 13th. Craig Hallum lifted their target price on shares of Lumentum from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Jefferies Financial Group lowered their target price on shares of Lumentum from $75.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, May 21st. Finally, ValuEngine raised shares of Lumentum from a “sell” rating to a “hold” rating in a research note on Tuesday, June 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. Lumentum presently has a consensus rating of “Buy” and a consensus price target of $69.13.

A number of large investors have recently bought and sold shares of LITE. Ellis Investment Partners LLC grew its holdings in Lumentum by 5,816.5% in the first quarter. Ellis Investment Partners LLC now owns 1,488,472 shares of the technology company’s stock worth $1,488,000 after purchasing an additional 1,463,314 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of Lumentum by 2,178.5% during the second quarter. Nuveen Asset Management LLC now owns 1,372,183 shares of the technology company’s stock valued at $73,289,000 after buying an additional 1,311,961 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Lumentum by 113.6% during the second quarter. Westfield Capital Management Co. LP now owns 1,027,148 shares of the technology company’s stock valued at $54,860,000 after buying an additional 546,318 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Lumentum by 771.4% during the second quarter. Victory Capital Management Inc. now owns 431,043 shares of the technology company’s stock valued at $23,022,000 after buying an additional 381,575 shares during the last quarter. Finally, AO Asset Management LP acquired a new position in shares of Lumentum during the first quarter valued at about $20,513,000. Institutional investors and hedge funds own 94.74% of the company’s stock.

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.

Further Reading: Technical Analysis of Stocks and What It Means

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

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