Martin A. Kaplan Sells 15,000 Shares of Lumentum Holdings Inc. (LITE) Stock
Lumentum Holdings Inc. (NASDAQ:LITE) Director Martin A. Kaplan sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $57.07, for a total transaction of $856,050.00. Following the sale, the director now directly owns 29,573 shares in the company, valued at approximately $1,687,731.11. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Lumentum Holdings Inc. (NASDAQ LITE) opened at $55.80 on Wednesday. Lumentum Holdings Inc. has a one year low of $34.15 and a one year high of $68.63. The stock has a market cap of $3,574.30, a price-to-earnings ratio of 40.31, a P/E/G ratio of 1.05 and a beta of 1.03. The company has a quick ratio of 4.38, a current ratio of 5.21 and a debt-to-equity ratio of 0.50.
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A number of equities research analysts have recently commented on LITE shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $73.00 price objective on shares of Lumentum Holdings in a research note on Thursday, September 7th. Zacks Investment Research cut shares of Lumentum Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Rosenblatt Securities set a $75.00 price objective on shares of Lumentum Holdings and gave the stock a “buy” rating in a research note on Tuesday, October 24th. BidaskClub raised shares of Lumentum Holdings from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Finally, Needham & Company LLC reaffirmed a “strong-buy” rating and set a $80.00 price objective on shares of Lumentum Holdings in a research note on Wednesday, September 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $68.06.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Lumentum Holdings by 7.0% in the 2nd quarter. BlackRock Inc. now owns 6,889,157 shares of the technology company’s stock valued at $393,025,000 after acquiring an additional 448,077 shares during the period. Vanguard Group Inc. lifted its holdings in Lumentum Holdings by 2.3% in the 2nd 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 in the last quarter. Bank of New York Mellon Corp lifted its holdings in Lumentum Holdings by 71.2% in the 2nd 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 in the last quarter. Alliancebernstein L.P. lifted its holdings in Lumentum Holdings by 14.5% in the 2nd 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 in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC lifted its holdings in Lumentum Holdings by 23.4% in the 2nd 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 in the last quarter. 95.69% of the stock is currently owned by hedge funds and other institutional investors.
Lumentum Holdings Company Profile
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).
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