Lumentum Holdings Inc. (LITE) CEO Sells $344,208.25 in Stock

Lumentum Holdings Inc. (NASDAQ:LITE) CEO Alan S. Lowe sold 6,025 shares of Lumentum Holdings stock in a transaction on Friday, November 17th. The stock was sold at an average price of $57.13, for a total transaction of $344,208.25. Following the sale, the chief executive officer now directly owns 250,593 shares of the company’s stock, valued at $14,316,378.09. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Shares of Lumentum Holdings Inc. (NASDAQ LITE) traded down $0.15 during trading hours on Friday, reaching $57.50. 1,421,955 shares of the company traded hands, compared to its average volume of 1,813,906. Lumentum Holdings Inc. has a 12-month low of $34.15 and a 12-month high of $68.63. The company has a debt-to-equity ratio of 0.50, a current ratio of 5.21 and a quick ratio of 4.38. The firm has a market cap of $3,570.00 and a price-to-earnings ratio of 39.02.

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Several research firms have recently issued reports on LITE. Rosenblatt Securities set a $75.00 price objective on shares of Lumentum Holdings and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $68.00 price objective on shares of Lumentum Holdings in a research report on Thursday, September 14th. BidaskClub cut shares of Lumentum Holdings from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. MKM Partners raised shares of Lumentum Holdings from a “neutral” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Wednesday, September 27th. They noted that the move was a valuation call. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $75.00 price objective on shares of Lumentum Holdings in a research report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. Lumentum Holdings presently has an average rating of “Buy” and a consensus price target of $68.06.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in Lumentum Holdings by 7.0% in the second quarter. BlackRock Inc. now owns 6,889,157 shares of the technology company’s stock valued at $393,025,000 after purchasing an additional 448,077 shares during the period. Vanguard Group Inc. increased its stake in Lumentum Holdings by 2.3% in the second quarter. Vanguard Group Inc. now owns 5,330,153 shares of the technology company’s stock valued at $304,085,000 after purchasing an additional 122,150 shares during the period. Bank of New York Mellon Corp increased its stake in Lumentum Holdings by 71.2% in the second quarter. Bank of New York Mellon Corp now owns 2,662,272 shares of the technology company’s stock valued at $151,883,000 after purchasing an additional 1,107,107 shares during the period. Alliancebernstein L.P. increased its stake in Lumentum Holdings by 14.5% in the second quarter. Alliancebernstein L.P. now owns 2,102,853 shares of the technology company’s stock valued at $119,968,000 after purchasing an additional 265,723 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC increased its stake in Lumentum Holdings by 23.4% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 2,099,760 shares of the technology company’s stock valued at $119,791,000 after purchasing an additional 397,622 shares during the period. Institutional investors own 95.69% of the company’s stock.

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).

Insider Buying and Selling by Quarter for Lumentum Holdings (NASDAQ:LITE)

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