Lumentum Holdings Inc. (NASDAQ:LITE) Director Penny Herscher sold 822 shares of Lumentum stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $50.61, for a total value of $41,601.42. Following the sale, the director now directly owns 34,793 shares in the company, valued at $1,760,873.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Lumentum Holdings Inc. (NASDAQ LITE) opened at $51.75 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.38 and a current ratio of 5.21. The firm has a market capitalization of $3,317.00, a P/E ratio of 37.41, a price-to-earnings-growth ratio of 0.94 and a beta of 0.83. Lumentum Holdings Inc. has a 1-year low of $34.15 and a 1-year high of $68.63.

A number of equities research analysts recently weighed in on LITE shares. Zacks Investment Research raised Lumentum from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research report on Friday, November 3rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $73.00 price objective on shares of Lumentum in a report on Thursday, September 7th. DA Davidson lifted their price objective on Lumentum from $82.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. MKM Partners lifted their price objective on Lumentum to $71.00 and gave the company a “neutral” rating in a report on Thursday, November 2nd. Finally, Rosenblatt Securities set a $75.00 price objective on Lumentum and gave the company a “buy” rating in a report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $68.25.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Suntrust Banks Inc. boosted its holdings in shares of Lumentum by 0.4% in the 2nd quarter. Suntrust Banks Inc. now owns 9,468 shares of the technology company’s stock worth $539,000 after acquiring an additional 37 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Lumentum by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 29,060 shares of the technology company’s stock worth $1,658,000 after acquiring an additional 200 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of Lumentum by 6.6% in the 2nd quarter. Stifel Financial Corp now owns 7,271 shares of the technology company’s stock worth $415,000 after acquiring an additional 447 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Lumentum by 5.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 13,150 shares of the technology company’s stock worth $750,000 after acquiring an additional 650 shares in the last quarter. Finally, Riverhead Capital Management LLC boosted its holdings in shares of Lumentum by 71.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,062 shares of the technology company’s stock worth $118,000 after acquiring an additional 862 shares in the last quarter. 95.70% of the stock is currently owned by institutional investors.

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Lumentum 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).

Insider Buying and Selling by Quarter for Lumentum (NASDAQ:LITE)

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