Lumentum Holdings Inc. (NASDAQ:LITE) Director Julia Suzanne Johnson Sells 2,058 Shares

Lumentum Holdings Inc. (NASDAQ:LITE) Director Julia Suzanne Johnson sold 2,058 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $85.82, for a total transaction of $176,617.56. Following the completion of the sale, the director now directly owns 23,287 shares of the company’s stock, valued at approximately $1,998,490.34. This represents a 8.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Lumentum Price Performance

Shares of LITE stock traded down $0.22 during mid-day trading on Tuesday, hitting $86.98. 1,144,386 shares of the stock were exchanged, compared to its average volume of 1,493,729. Lumentum Holdings Inc. has a 52-week low of $38.28 and a 52-week high of $91.21. 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 market cap of $5.98 billion, a PE ratio of -10.49 and a beta of 0.88. The firm has a fifty day moving average of $70.04 and a 200 day moving average of $57.30.

Institutional Trading of Lumentum

A number of institutional investors and hedge funds have recently modified their holdings of LITE. Vanguard Group Inc. boosted its position in Lumentum by 0.3% during the first quarter. Vanguard Group Inc. now owns 7,218,293 shares of the technology company’s stock worth $341,786,000 after acquiring an additional 22,088 shares during the last quarter. Kennedy Capital Management LLC lifted its holdings in shares of Lumentum by 23.0% in the 1st 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 during the last quarter. Swedbank AB purchased a new position in shares of Lumentum during the 1st quarter worth approximately $71,025,000. Keynote Financial Services LLC acquired a new stake in Lumentum in the 1st quarter valued at approximately $361,000. Finally, Thompson Investment Management Inc. raised its position in Lumentum by 63.0% in the second 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 period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

LITE has been the subject of a number of research analyst reports. Susquehanna lifted their target price on Lumentum from $80.00 to $115.00 and gave the stock a “positive” rating in a report on Friday, November 8th. JPMorgan Chase & Co. increased their price objective on shares of Lumentum from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Barclays boosted their price target on Lumentum from $40.00 to $80.00 and gave the stock an “underweight” rating in a report on Monday, November 11th. Bank of America raised their price objective on Lumentum from $45.00 to $50.00 and gave the company an “underperform” rating in a research report on Thursday, August 15th. Finally, Morgan Stanley increased their price objective on shares of Lumentum from $61.00 to $76.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lumentum presently has an average rating of “Hold” and a consensus target price of $74.85.

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 (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.