Lumentum Holdings Inc. (NASDAQ:LITE) Director Penny Herscher Sells 1,625 Shares of Stock

Lumentum Holdings Inc. (NASDAQ:LITE) Director Penny Herscher sold 1,625 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $81.09, for a total value of $131,771.25. Following the completion of the transaction, the director now directly owns 6,852 shares of the company’s stock, valued at $555,628.68. This represents a 19.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Lumentum Stock Down 0.0 %

NASDAQ:LITE opened at $82.47 on Thursday. The firm has a market capitalization of $5.67 billion, a PE ratio of -9.96 and a beta of 0.88. Lumentum Holdings Inc. has a 52 week low of $38.28 and a 52 week high of $89.70. The company has a current ratio of 5.36, a quick ratio of 4.04 and a debt-to-equity ratio of 2.87. The stock has a 50 day moving average of $68.13 and a 200-day moving average of $56.26.

Analyst Ratings Changes

LITE has been the topic of a number of recent analyst reports. B. Riley upped their target price on Lumentum from $40.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Rosenblatt Securities upped their price target on shares of Lumentum from $69.00 to $110.00 and gave the company a “buy” rating in a report on Friday, November 8th. Raymond James boosted their target price on shares of Lumentum from $70.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. increased their price target on shares of Lumentum from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Finally, Craig Hallum lifted their price target on Lumentum from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Lumentum currently has a consensus rating of “Hold” and an average price target of $74.85.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LITE. State Board of Administration of Florida Retirement System increased its holdings in shares of Lumentum by 2.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 79,009 shares of the technology company’s stock worth $3,741,000 after acquiring an additional 1,706 shares during the period. Vanguard Group Inc. grew its holdings in Lumentum by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 7,218,293 shares of the technology company’s stock worth $341,786,000 after buying an additional 22,088 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Lumentum in the 1st quarter valued at approximately $112,000. Keeley Teton Advisors LLC boosted its position in Lumentum by 15.2% during the 1st quarter. Keeley Teton Advisors LLC now owns 31,937 shares of the technology company’s stock worth $1,512,000 after acquiring an additional 4,209 shares during the period. Finally, Earnest Partners LLC grew its stake in shares of Lumentum by 6.0% in the first quarter. Earnest Partners LLC now owns 1,690,117 shares of the technology company’s stock worth $80,027,000 after purchasing an additional 95,428 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

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.