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

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

Lumentum Stock Performance

NASDAQ LITE opened at $86.98 on Wednesday. Lumentum Holdings Inc. has a 12 month low of $38.28 and a 12 month high of $91.21. The company has a debt-to-equity ratio of 2.87, a current ratio of 5.36 and a quick ratio of 4.04. The stock has a 50 day moving average of $70.04 and a 200-day moving average of $57.30.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LITE. Bank of America lifted their price target on shares of Lumentum from $45.00 to $50.00 and gave the company an “underperform” rating in a research note on Thursday, August 15th. Morgan Stanley boosted 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. Northland Securities increased their target price on Lumentum from $45.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. boosted their price target on Lumentum from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Finally, Craig Hallum increased their price objective on Lumentum from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Three analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $74.85.

Institutional Trading of Lumentum

A number of large investors have recently added to or reduced their stakes in LITE. Quarry LP raised its holdings in shares of Lumentum by 85.5% in the 3rd quarter. Quarry LP now owns 436 shares of the technology company’s stock valued at $28,000 after purchasing an additional 201 shares during the period. Capital Performance Advisors LLP acquired a new position in Lumentum during the third quarter worth approximately $33,000. Nomura Asset Management Co. Ltd. raised its stake in Lumentum by 67.5% in the third 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 during the period. Point72 DIFC Ltd acquired a new stake in shares of Lumentum in the second quarter valued at approximately $36,000. Finally, GAMMA Investing LLC boosted its stake in shares of Lumentum by 141.6% during the 3rd quarter. GAMMA Investing LLC now owns 894 shares of the technology company’s stock worth $57,000 after acquiring an additional 524 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

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.