Matthew Joseph Sepe Sells 8,172 Shares of Lumentum Holdings Inc. (NASDAQ:LITE) Stock

Lumentum Holdings Inc. (NASDAQ:LITE) CAO Matthew Joseph Sepe sold 8,172 shares of Lumentum stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $87.60, for a total value of $715,867.20. Following the completion of the transaction, the chief accounting officer now directly owns 21,138 shares in the company, valued at $1,851,688.80. This represents a 27.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Lumentum Stock Performance

LITE traded down $2.93 during trading on Thursday, hitting $85.13. 1,736,934 shares of the company traded hands, compared to its average volume of 1,473,607. The firm has a market cap of $5.85 billion, a P/E ratio of -10.28, a price-to-earnings-growth ratio of 8.83 and a beta of 0.88. The stock’s fifty day moving average is $65.76 and its 200 day moving average is $55.13. The company has a quick ratio of 4.04, a current ratio of 5.36 and a debt-to-equity ratio of 2.87. Lumentum Holdings Inc. has a one year low of $38.28 and a one year high of $89.70.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Wednesday, August 14th. The technology company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The company had revenue of $308.30 million during the quarter, compared to analyst estimates of $301.36 million. Lumentum had a negative net margin of 40.70% and a negative return on equity of 6.79%. Lumentum’s revenue was down 16.9% compared to the same quarter last year. During the same period last year, the business earned $0.12 earnings per share. As a group, equities analysts predict that Lumentum Holdings Inc. will post 0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in Lumentum in the third quarter valued at $33,000. Point72 DIFC Ltd bought a new stake in Lumentum in the second quarter valued at $36,000. GAMMA Investing LLC boosted its holdings in shares of Lumentum by 141.6% during the 3rd quarter. GAMMA Investing LLC now owns 894 shares of the technology company’s stock valued at $57,000 after buying an additional 524 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Lumentum by 93.9% during the 2nd quarter. Signaturefd LLC now owns 1,144 shares of the technology company’s stock valued at $58,000 after buying an additional 554 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of Lumentum during the 1st quarter valued at $112,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on LITE. Needham & Company LLC boosted their target price on Lumentum from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. B. Riley upped their price target on Lumentum from $40.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Northland Securities upped their price target on Lumentum from $45.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, November 8th. Barclays boosted their price objective on Lumentum from $40.00 to $80.00 and gave the company an “underweight” rating in a research report on Monday. Finally, Raymond James upped their price target on Lumentum from $70.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.85.

About Lumentum

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.