Lumentum Holdings Inc (NASDAQ:LITE) EVP Jason Reinhardt Sells 25,000 Shares of Stock

Lumentum Holdings Inc (NASDAQ:LITE) EVP Jason Reinhardt sold 25,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $59.56, for a total transaction of $1,489,000.00. Following the sale, the executive vice president now directly owns 36,691 shares in the company, valued at approximately $2,185,315.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Jason Reinhardt also recently made the following trade(s):

  • On Friday, August 16th, Jason Reinhardt sold 253 shares of Lumentum stock. The shares were sold at an average price of $58.26, for a total transaction of $14,739.78.
  • On Monday, August 19th, Jason Reinhardt sold 1,228 shares of Lumentum stock. The shares were sold at an average price of $59.87, for a total transaction of $73,520.36.

LITE stock opened at $55.82 on Friday. The company has a quick ratio of 3.76, a current ratio of 4.53 and a debt-to-equity ratio of 0.56. Lumentum Holdings Inc has a twelve month low of $37.00 and a twelve month high of $69.95. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 1.14 and a beta of 1.36. The firm’s fifty day simple moving average is $56.23 and its two-hundred day simple moving average is $52.90.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.21. Lumentum had a negative net margin of 2.33% and a positive return on equity of 18.19%. The business had revenue of $404.60 million for the quarter, compared to analysts’ expectations of $383.54 million. During the same quarter in the previous year, the business posted $0.95 earnings per share. The business’s revenue was up 34.4% compared to the same quarter last year. As a group, equities research analysts expect that Lumentum Holdings Inc will post 3.75 EPS for the current year.

A number of research firms recently issued reports on LITE. Jefferies Financial Group decreased their price target on shares of Lumentum from $75.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, May 21st. MKM Partners reaffirmed a “buy” rating and set a $76.00 price target (up previously from $60.00) on shares of Lumentum in a research note on Friday, August 9th. Rosenblatt Securities reaffirmed a “buy” rating and set a $80.00 price target on shares of Lumentum in a research note on Tuesday, May 7th. Barclays upped their price target on shares of Lumentum from $60.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Finally, TheStreet downgraded shares of Lumentum from a “b-” rating to a “c+” rating in a research note on Monday, May 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Lumentum presently has a consensus rating of “Buy” and a consensus target price of $69.13.

Hedge funds have recently bought and sold shares of the business. Argent Capital Management LLC grew its holdings in shares of Lumentum by 36.5% in the first quarter. Argent Capital Management LLC now owns 89,670 shares of the technology company’s stock worth $5,070,000 after purchasing an additional 23,955 shares during the last quarter. Kennedy Capital Management Inc. grew its holdings in shares of Lumentum by 6.4% in the first quarter. Kennedy Capital Management Inc. now owns 705,363 shares of the technology company’s stock worth $39,881,000 after purchasing an additional 42,136 shares during the last quarter. Metropolitan Life Insurance Co NY grew its holdings in shares of Lumentum by 2.9% in the first quarter. Metropolitan Life Insurance Co NY now owns 43,722 shares of the technology company’s stock worth $2,472,000 after purchasing an additional 1,218 shares during the last quarter. King Luther Capital Management Corp grew its holdings in shares of Lumentum by 10.6% in the first quarter. King Luther Capital Management Corp now owns 28,435 shares of the technology company’s stock worth $1,608,000 after purchasing an additional 2,735 shares during the last quarter. Finally, Bridge City Capital LLC grew its holdings in shares of Lumentum by 0.5% in the second quarter. Bridge City Capital LLC now owns 50,443 shares of the technology company’s stock worth $2,694,000 after purchasing an additional 243 shares during the last quarter. Institutional investors and hedge funds own 94.74% 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 and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.

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