Lumentum Holdings Inc (NASDAQ:LITE) COO Vincent Retort sold 805 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $58.15, for a total value of $46,810.75. Following the completion of the sale, the chief operating officer now owns 66,755 shares of the company’s stock, valued at $3,881,803.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Vincent Retort also recently made the following trade(s):
- On Wednesday, May 17th, Vincent Retort sold 2,029 shares of Lumentum Holdings stock. The shares were sold at an average price of $54.26, for a total value of $110,093.54.
- On Wednesday, February 22nd, Vincent Retort sold 809 shares of Lumentum Holdings stock. The shares were sold at an average price of $52.10, for a total value of $42,148.90.
Lumentum Holdings Inc (NASDAQ:LITE) traded down 1.14% during trading on Wednesday, reaching $56.20. The company’s stock had a trading volume of 834,213 shares. The company has a 50-day moving average of $48.51 and a 200 day moving average of $44.10. Lumentum Holdings Inc has a one year low of $22.04 and a one year high of $58.90. The firm’s market cap is $3.44 billion.
Lumentum Holdings (NASDAQ:LITE) last posted its quarterly earnings results on Thursday, May 4th. The technology company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.12. Lumentum Holdings had a net margin of 1.50% and a return on equity of 17.24%. The firm had revenue of $255.80 million for the quarter, compared to analysts’ expectations of $257.22 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Analysts expect that Lumentum Holdings Inc will post $1.90 EPS for the current fiscal year.
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Several large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Lumentum Holdings by 151,490.5% in the first quarter. BlackRock Inc. now owns 6,441,080 shares of the technology company’s stock worth $343,632,000 after buying an additional 6,436,831 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Lumentum Holdings by 2,347.2% in the first quarter. Alliancebernstein L.P. now owns 1,837,130 shares of the technology company’s stock worth $98,011,000 after buying an additional 1,762,060 shares during the last quarter. Wellington Management Group LLP boosted its stake in Lumentum Holdings by 702.0% in the first quarter. Wellington Management Group LLP now owns 1,480,805 shares of the technology company’s stock worth $79,000,000 after buying an additional 1,296,173 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD purchased a new stake in Lumentum Holdings during the first quarter worth approximately $55,001,000. Finally, Whale Rock Capital Management LLC purchased a new stake in Lumentum Holdings during the first quarter worth approximately $51,341,000. Hedge funds and other institutional investors own 84.16% of the company’s stock.
Several analysts have recently commented on the company. Zacks Investment Research downgraded Lumentum Holdings from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Rosenblatt Securities assumed coverage on Lumentum Holdings in a research note on Tuesday. They set a “buy” rating and a $66.00 price target for the company. Stifel Nicolaus lifted their price target on Lumentum Holdings from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Monday, May 15th. Jefferies Group LLC reiterated a “buy” rating and set a $62.00 price target on shares of Lumentum Holdings in a research note on Monday, May 15th. Finally, B. Riley reiterated a “buy” rating and set a $58.00 price target on shares of Lumentum Holdings in a research note on Wednesday, May 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $52.33.
About Lumentum Holdings
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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