Lumentum (NASDAQ:LITE) Insider Sells 500 Shares

Lumentum Holdings Inc. (NASDAQ:LITE) insider Yuen Wupen sold 500 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $824.24, for a total value of $412,120.00. Following the sale, the insider owned 92,729 shares in the company, valued at $76,430,950.96. The trade was a 0.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Yuen Wupen also recently made the following trade(s):

• On Wednesday, August 26th, Yuen Wupen sold 500 shares of Lumentum stock. The stock was sold at an average price of $882.15, for a total value of $441,075.00.
• On Friday, August 21st, Yuen Wupen sold 500 shares of Lumentum stock. The shares were sold at an average price of $898.15, for a total value of $449,075.00.
• On Thursday, August 20th, Yuen Wupen sold 1,500 shares of Lumentum stock. The shares were sold at an average price of $827.82, for a total value of $1,241,730.00.

Lumentum Price Performance

LITE traded up $53.46 during midday trading on Wednesday, hitting $939.03. The stock had a trading volume of 4,467,922 shares, compared to its average volume of 5,224,733. Lumentum Holdings Inc. has a 1 year low of $123.78 and a 1 year high of $1,085.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.40 and a current ratio of 1.68. The business has a fifty day moving average of $808.80 and a 200 day moving average of $801.60. The company has a market cap of $84.23 billion, a P/E ratio of -11.42 and a beta of 1.50.

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, topping analysts’ consensus estimates 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 firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $987.70 million. During the same period in the previous year, the business posted $0.88 EPS. The business’s quarterly revenue was up 109.3% on a year-over-year basis. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. As a group, equities analysts forecast that Lumentum Holdings Inc. will post 19.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LITE. Northland Securities increased their target price on Lumentum from $1,000.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Weiss Ratings lowered Lumentum from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Wednesday, August 19th. Bank of America cut their target price on shares of Lumentum from $1,100.00 to $1,000.00 and set a “neutral” rating on the stock in a report on Wednesday, August 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,040.00 target price on shares of Lumentum in a research note on Wednesday, August 12th. Finally, Citigroup reiterated a “buy” rating on shares of Lumentum in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,044.67.

Institutional Investors Weigh In On Lumentum

Several hedge funds have recently bought and sold shares of the business. Hilton Head Capital Partners LLC bought a new position in shares of Lumentum during the first quarter valued at $25,000. Sachetta LLC grew its position in Lumentum by 118.8% during the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after buying an additional 19 shares during the period. Truvestments Capital LLC raised its position in Lumentum by 300.0% in the fourth quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock worth $28,000 after acquiring an additional 57 shares during the period. Triumph Capital Management bought a new position in Lumentum in the 4th quarter worth $30,000. Finally, Danske Bank A S purchased a new position in Lumentum during the third quarter valued at $33,000. Institutional investors own 94.05% of the company’s stock.

Lumentum Company Profile

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.