Insider Selling: Lumentum (NASDAQ:LITE) Insider Sells 500 Shares of Stock

Lumentum Holdings Inc. (NASDAQ:LITE) insider Yuen Wupen sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $824.24, for a total value of $412,120.00. Following the transaction, the insider owned 92,729 shares of the company’s stock, valued at approximately $76,430,950.96. This trade represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 stock was sold at an average price of $827.82, for a total value of $1,241,730.00.

Lumentum Price Performance

Shares of LITE stock traded up $53.46 on Wednesday, reaching $939.03. The company’s stock had a trading volume of 4,467,922 shares, compared to its average volume of 5,224,733. The stock’s fifty day simple moving average is $808.80 and its 200-day simple moving average is $801.60. Lumentum Holdings Inc. has a 1 year low of $123.78 and a 1 year high of $1,085.68. The company has a market capitalization of $84.23 billion, a price-to-earnings ratio of -11.42 and a beta of 1.50. The company has a current ratio of 1.68, a quick ratio of 1.40 and a debt-to-equity ratio of 0.01.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $987.70 million. During the same quarter in the prior year, the firm earned $0.88 earnings per share. Lumentum’s revenue was up 109.3% on a year-over-year basis. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Analysts forecast that Lumentum Holdings Inc. will post 19.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LITE. UBS Group set a $820.00 price target on Lumentum in a report on Wednesday, August 12th. B. Riley Financial reaffirmed a “buy” rating on shares of Lumentum in a research note on Friday, May 1st. Jefferies Financial Group reiterated a “buy” rating and set a $1,200.00 price target on shares of Lumentum in a report on Wednesday, May 6th. Morgan Stanley increased their price objective on shares of Lumentum from $900.00 to $1,000.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings lowered Lumentum from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,044.67.

Hedge Funds Weigh In On Lumentum

Several institutional investors have recently bought and sold shares of LITE. Amundi lifted its holdings in Lumentum by 188.7% during the second quarter. Amundi now owns 658,427 shares of the technology company’s stock worth $564,970,000 after buying an additional 430,355 shares during the period. Groupe la Francaise bought a new stake in Lumentum during the second quarter valued at about $7,260,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Lumentum in the second quarter valued at about $17,848,000. CYBER HORNET ETFs LLC raised its holdings in Lumentum by 7.2% in the second quarter. CYBER HORNET ETFs LLC now owns 209 shares of the technology company’s stock worth $179,000 after purchasing an additional 14 shares in the last quarter. Finally, California State Teachers Retirement System raised its holdings in Lumentum by 112,343.2% in the second quarter. California State Teachers Retirement System now owns 92,237,160 shares of the technology company’s stock worth $79,145,018,000 after purchasing an additional 92,155,130 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

About Lumentum

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.