Lumentum (NASDAQ:LITE) SVP Sells $1,242,281.38 in Stock

Lumentum Holdings Inc. (NASDAQ:LITE) SVP Jae Kim sold 1,366 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $909.43, for a total transaction of $1,242,281.38. Following the completion of the sale, the senior vice president owned 45,973 shares in the company, valued at $41,809,225.39. This represents a 2.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lumentum Stock Up 6.2%

Shares of NASDAQ:LITE opened at $879.28 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.68 and a quick ratio of 1.40. The stock has a market cap of $78.87 billion, a price-to-earnings ratio of -10.70 and a beta of 1.50. The company has a 50 day moving average of $810.86 and a 200-day moving average of $789.68. Lumentum Holdings Inc. has a one year low of $115.21 and a one year high of $1,085.68.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Tuesday, August 11th. The technology company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.26. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $987.70 million. During the same period in the prior year, the business posted $0.88 earnings per share. Lumentum’s revenue was up 109.3% compared to the same quarter last year. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. On average, sell-side analysts forecast that Lumentum Holdings Inc. will post 16.95 earnings per share for the current year.

Institutional Trading of Lumentum

Several hedge funds have recently added to or reduced their stakes in LITE. Hilton Head Capital Partners LLC acquired a new position in Lumentum in the first quarter valued at about $25,000. Sachetta LLC raised its position in shares of Lumentum by 118.8% during the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after purchasing an additional 19 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Lumentum during the second quarter worth about $40,000. Keating Financial Advisory Services Inc. bought a new position in shares of Lumentum during the 2nd quarter valued at about $41,000. Finally, Fiduciary Financial Advisors acquired a new position in shares of Lumentum in the 2nd quarter valued at approximately $42,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Bank of America reduced their price target on Lumentum from $1,100.00 to $1,000.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 12th. BNP Paribas Exane increased their target price on Lumentum from $1,040.00 to $1,300.00 in a research note on Wednesday, May 6th. Zacks Research lowered Lumentum from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Mizuho raised their target price on Lumentum from $1,100.00 to $1,140.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Finally, UBS Group set a $820.00 target price on Lumentum in a research report on Wednesday, August 12th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,044.67.

About Lumentum

Lumentum Holdings Inc, headquartered in San Jose, California, is a leading provider of photonic technologies that enable high-speed optical communication networks and advanced industrial applications. The company designs and manufactures a broad range of lasers, optical modules and subsystems tailored to the evolving requirements of telecommunications carriers, cloud data centers and enterprise networking.

Its core product portfolio includes tunable and fixed-wavelength laser transmitters, coherent optical engines, transceivers for long-haul, metro and data center interconnects, as well as test and measurement instruments.