Lumentum Holdings Inc (LITE) Director Sells $427,971.12 in Stock
Lumentum Holdings Inc (NASDAQ:LITE) Director Harold L. Covert sold 7,564 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $56.58, for a total transaction of $427,971.12. Following the completion of the sale, the director now directly owns 22,628 shares in the company, valued at $1,280,292.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of Lumentum Holdings Inc (NASDAQ LITE) traded down $0.30 during trading on Tuesday, hitting $56.90. 1,967,600 shares of the stock traded hands, compared to its average volume of 2,842,673. The firm has a market cap of $3,569.28, a PE ratio of 39.38, a price-to-earnings-growth ratio of 1.02 and a beta of 0.56. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.16 and a current ratio of 4.84. Lumentum Holdings Inc has a fifty-two week low of $40.35 and a fifty-two week high of $68.63.
Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.67. The firm had revenue of $404.60 million during the quarter, compared to analysts’ expectations of $357.03 million. Lumentum had a net margin of 8.97% and a return on equity of 24.06%. Lumentum’s quarterly revenue was up 52.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 EPS. analysts expect that Lumentum Holdings Inc will post 2.85 earnings per share for the current year.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in Lumentum by 3.6% during the 4th quarter. BlackRock Inc. now owns 7,756,216 shares of the technology company’s stock worth $379,279,000 after purchasing an additional 268,849 shares during the period. Bank of New York Mellon Corp boosted its stake in Lumentum by 58.0% during the 4th quarter. Bank of New York Mellon Corp now owns 4,005,797 shares of the technology company’s stock worth $195,883,000 after purchasing an additional 1,470,587 shares during the period. Whale Rock Capital Management LLC boosted its stake in Lumentum by 86.0% during the 3rd quarter. Whale Rock Capital Management LLC now owns 1,590,359 shares of the technology company’s stock worth $86,436,000 after purchasing an additional 735,239 shares during the period. State Street Corp boosted its stake in Lumentum by 16.3% during the 2nd quarter. State Street Corp now owns 1,491,562 shares of the technology company’s stock worth $85,095,000 after purchasing an additional 208,872 shares during the period. Finally, Allianz Asset Management GmbH boosted its stake in Lumentum by 17.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,231,582 shares of the technology company’s stock worth $66,937,000 after purchasing an additional 180,426 shares during the period.
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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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