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 the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $87.60, for a total value of $715,867.20. Following the sale, the chief accounting officer now directly owns 21,138 shares in the company, valued at approximately $1,851,688.80. This trade represents a 27.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Lumentum Stock Performance

LITE stock opened at $81.45 on Friday. Lumentum Holdings Inc. has a 1-year low of $38.28 and a 1-year high of $89.70. The firm has a market cap of $5.60 billion, a PE ratio of -9.84, a price-to-earnings-growth ratio of 8.98 and a beta of 0.88. The stock has a 50-day moving average price of $66.35 and a 200-day moving average price of $55.39. The company has a current ratio of 5.36, a quick ratio of 4.04 and a debt-to-equity ratio of 2.87.

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

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Needham & Company LLC lifted 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. Barclays lifted their target price on Lumentum from $40.00 to $80.00 and gave the stock an “underweight” rating in a report on Monday, November 11th. 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. lifted their target price on Lumentum from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Finally, Bank of America lifted their target price on Lumentum from $45.00 to $50.00 and gave the stock an “underperform” rating in a report on Thursday, August 15th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $74.85.

Institutional Trading of Lumentum

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. M&T Bank Corp increased its position in Lumentum by 69.1% in the 3rd quarter. M&T Bank Corp now owns 11,743 shares of the technology company’s stock valued at $745,000 after buying an additional 4,798 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in Lumentum by 67.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company’s stock valued at $42,000 after buying an additional 270 shares in the last quarter. Castleark Management LLC bought a new stake in Lumentum in the 3rd quarter valued at about $6,205,000. Weiss Asset Management LP bought a new stake in Lumentum in the 3rd quarter valued at about $1,093,000. Finally, Two Sigma Advisers LP increased its position in Lumentum by 24.7% in the 3rd quarter. Two Sigma Advisers LP now owns 186,600 shares of the technology company’s stock valued at $11,827,000 after buying an additional 37,000 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

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.