Lumentum Holdings Inc (NASDAQ:LITE) Director Penny Herscher sold 1,313 shares of Lumentum stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $58.85, for a total transaction of $77,270.05. Following the sale, the director now owns 18,910 shares in the company, valued at approximately $1,112,853.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of NASDAQ:LITE opened at $59.95 on Monday. Lumentum Holdings Inc has a 52 week low of $41.95 and a 52 week high of $74.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 4.55 and a current ratio of 5.27. The firm has a market capitalization of $3.67 billion, a PE ratio of 18.50, a PEG ratio of 0.96 and a beta of -0.06.
Lumentum (NASDAQ:LITE) last issued its earnings results on Wednesday, August 8th. The technology company reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.30. Lumentum had a net margin of 19.86% and a return on equity of 25.10%. The company had revenue of $301.10 million for the quarter, compared to the consensus estimate of $288.56 million. During the same quarter in the previous year, the company earned $0.39 EPS. The firm’s revenue for the quarter was up 35.2% compared to the same quarter last year. sell-side analysts forecast that Lumentum Holdings Inc will post 3.41 EPS for the current year.
A number of research firms have weighed in on LITE. DA Davidson decreased their price target on shares of Lumentum to $92.00 and set a “buy” rating on the stock in a research note on Monday, July 23rd. Barclays lifted their price target on shares of Lumentum from $67.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 2nd. Zacks Investment Research upgraded shares of Lumentum from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research note on Friday, May 4th. Piper Jaffray Companies reiterated an “overweight” rating and set a $85.00 price target on shares of Lumentum in a research note on Wednesday, August 8th. Finally, Craig Hallum set a $85.00 price target on shares of Lumentum and gave the stock a “buy” rating in a research note on Monday, July 9th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $79.42.
Several large investors have recently modified their holdings of the company. Verition Fund Management LLC acquired a new stake in shares of Lumentum in the 2nd quarter valued at $2,043,000. Jafra Capital Management LP acquired a new stake in shares of Lumentum in the 2nd quarter valued at $1,042,000. Millennium Management LLC lifted its position in Lumentum by 1,153.9% during the 2nd quarter. Millennium Management LLC now owns 703,422 shares of the technology company’s stock worth $40,728,000 after buying an additional 647,322 shares in the last quarter. MetLife Investment Advisors LLC lifted its position in Lumentum by 152.9% during the 2nd quarter. MetLife Investment Advisors LLC now owns 68,098 shares of the technology company’s stock worth $3,943,000 after buying an additional 41,174 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its position in Lumentum by 87.4% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 36,353 shares of the technology company’s stock worth $2,105,000 after buying an additional 16,951 shares in the last quarter.
Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. It 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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