Lumentum Holdings Inc. (NASDAQ:LITE - Get Free Report) Director Julia Suzanne Johnson sold 2,058 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $85.82, for a total transaction of $176,617.56. Following the sale, the director now owns 23,287 shares of the company's stock, valued at $1,998,490.34. This trade represents a 8.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Lumentum Stock Performance
Shares of Lumentum stock opened at $86.98 on Wednesday. The company has a quick ratio of 4.04, a current ratio of 5.36 and a debt-to-equity ratio of 2.87. The company has a 50 day moving average of $70.04 and a 200-day moving average of $57.30. Lumentum Holdings Inc. has a 1-year low of $38.28 and a 1-year high of $91.21.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on LITE. Craig Hallum lifted their price target on Lumentum from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, August 15th. Needham & Company LLC increased their price objective on Lumentum from $65.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted their target price on shares of Lumentum from $57.00 to $65.00 and gave the company an "overweight" rating in a research report on Monday, August 12th. B. Riley raised their price target on shares of Lumentum from $40.00 to $50.00 and gave the stock a "neutral" rating in a research report on Thursday, August 15th. Finally, Jefferies Financial Group lifted their price objective on shares of Lumentum from $53.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $74.85.
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Institutional Investors Weigh In On Lumentum
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Lumentum by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 7,218,293 shares of the technology company's stock worth $341,786,000 after buying an additional 22,088 shares in the last quarter. Kennedy Capital Management LLC raised its stake in Lumentum by 23.0% during the first quarter. Kennedy Capital Management LLC now owns 75,513 shares of the technology company's stock worth $3,576,000 after acquiring an additional 14,132 shares in the last quarter. Swedbank AB bought a new position in shares of Lumentum in the first quarter worth about $71,025,000. Keynote Financial Services LLC acquired a new stake in shares of Lumentum in the 1st quarter valued at approximately $361,000. Finally, Thompson Investment Management Inc. grew its holdings in shares of Lumentum by 63.0% during the 2nd quarter. Thompson Investment Management Inc. now owns 116,410 shares of the technology company's stock valued at $5,928,000 after purchasing an additional 44,981 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.
Lumentum Company Profile
(
Get Free Report)
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 (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.
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