Lumentum Holdings Inc (NASDAQ:LITE) General Counsel Judy G. Hamel sold 2,000 shares of the company’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $71.00, for a total transaction of $142,000.00. Following the completion of the sale, the general counsel now owns 26,773 shares of the company’s stock, valued at approximately $1,900,883. The transaction was disclosed in a filing with the SEC, which is available through this link.
Lumentum Holdings Inc (NASDAQ:LITE) opened at $71.90 on Wednesday. The company has a current ratio of 4.84, a quick ratio of 4.16 and a debt-to-equity ratio of 0.38. The firm has a market cap of $4,680.00 and a PE ratio of 26.24. Lumentum Holdings Inc has a 1 year low of $40.35 and a 1 year high of $74.40.
Lumentum (NASDAQ:LITE) last issued its earnings results on Tuesday, February 6th. The technology company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.67. The firm had revenue of $404.60 million during the quarter, compared to analyst estimates of $357.03 million. Lumentum had a net margin of 8.97% and a return on equity of 24.06%. The company’s quarterly revenue was up 52.7% on a year-over-year basis. During the same quarter last year, the business earned $0.57 earnings per share. sell-side analysts expect that Lumentum Holdings Inc will post 2.85 EPS for the current fiscal year.
Several research firms recently weighed in on LITE. Zacks Investment Research lowered shares of Lumentum from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. UBS Group began coverage on shares of Lumentum in a research report on Wednesday, January 31st. They set a “buy” rating and a $57.00 price target for the company. B. Riley restated a “buy” rating and set a $89.00 price target on shares of Lumentum in a research report on Wednesday, December 13th. BidaskClub upgraded shares of Lumentum from a “sell” rating to a “hold” rating in a research report on Saturday, January 13th. Finally, DA Davidson increased their price target on shares of Lumentum to $101.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $73.19.
A number of large investors have recently modified their holdings of LITE. Bank of New York Mellon Corp boosted its position in Lumentum by 58.0% during the fourth quarter. Bank of New York Mellon Corp now owns 4,005,797 shares of the technology company’s stock worth $195,883,000 after purchasing an additional 1,470,587 shares during the period. Eagle Asset Management Inc. bought a new position in Lumentum during the fourth quarter worth about $40,918,000. Whale Rock Capital Management LLC boosted its position in Lumentum by 86.0% during the third quarter. Whale Rock Capital Management LLC now owns 1,590,359 shares of the technology company’s stock worth $86,436,000 after purchasing an additional 735,239 shares during the period. Carillon Tower Advisers Inc. bought a new position in Lumentum during the fourth quarter worth about $29,089,000. Finally, AXA boosted its position in Lumentum by 48.4% during the fourth quarter. AXA now owns 1,411,087 shares of the technology company’s stock worth $69,002,000 after purchasing an additional 460,315 shares during the period.
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).
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