Lumentum Holdings Inc. (NASDAQ:LITE) Director Sells $176,617.56 in Stock

Lumentum Holdings Inc. (NASDAQ:LITE) Director Julia Suzanne Johnson sold 2,058 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was 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 directly owns 23,287 shares of the company’s stock, valued at approximately $1,998,490.34. This trade represents a 8.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Lumentum Price Performance

Shares of NASDAQ:LITE opened at $83.77 on Friday. The company has a debt-to-equity ratio of 2.87, a current ratio of 5.36 and a quick ratio of 4.04. Lumentum Holdings Inc. has a 1-year low of $38.28 and a 1-year high of $91.21. The business has a 50-day moving average price of $71.12 and a two-hundred day moving average price of $57.78.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. B. Riley raised their price objective on shares of Lumentum from $40.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Barclays raised their price target on shares of Lumentum from $40.00 to $80.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th. Bank of America increased 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. Craig Hallum boosted their price target on Lumentum from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, Morgan Stanley boosted their target price on shares of Lumentum from $61.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Lumentum presently has a consensus rating of “Hold” and a consensus target price of $74.85.

Institutional Trading of Lumentum

A number of institutional investors have recently bought and sold shares of LITE. Signaturefd LLC lifted its stake in shares of Lumentum by 13.8% in the 3rd quarter. Signaturefd LLC now owns 1,302 shares of the technology company’s stock valued at $83,000 after purchasing an additional 158 shares during the period. Synovus Financial Corp grew its stake in Lumentum by 1.5% in the third quarter. Synovus Financial Corp now owns 13,225 shares of the technology company’s stock valued at $838,000 after acquiring an additional 200 shares during the period. Quarry LP increased its stake in Lumentum by 85.5% during the 3rd quarter. Quarry LP now owns 436 shares of the technology company’s stock worth $28,000 after purchasing an additional 201 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Lumentum by 67.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company’s stock worth $42,000 after acquiring an additional 270 shares in the last quarter. Finally, Mcdonald Partners LLC raised its stake in shares of Lumentum by 1.6% in the 2nd quarter. Mcdonald Partners LLC now owns 19,830 shares of the technology company’s stock valued at $1,010,000 after purchasing an additional 318 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

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.