Jason Reinhardt Sells 1,591 Shares of Lumentum Holdings (LITE) Stock

Lumentum Holdings (NASDAQ:LITE) EVP Jason Reinhardt sold 1,591 shares of the business’s stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $63.37, for a total value of $100,821.67. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Jason Reinhardt also recently made the following trade(s):

  • On Friday, February 16th, Jason Reinhardt sold 663 shares of Lumentum stock. The stock was sold at an average price of $58.52, for a total value of $38,798.76.
  • On Wednesday, February 21st, Jason Reinhardt sold 1,608 shares of Lumentum stock. The stock was sold at an average price of $58.95, for a total value of $94,791.60.

Shares of Lumentum stock traded down $0.90 during trading on Thursday, hitting $62.75. 949,222 shares of the company were exchanged, compared to its average volume of 2,372,765. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.56 and a quick ratio of 4.81. Lumentum Holdings has a fifty-two week low of $63.05 and a fifty-two week high of $64.15. The company has a market capitalization of $3.98 billion and a P/E ratio of 39.47.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Wednesday, May 2nd. The technology company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.07. Lumentum had a return on equity of 23.35% and a net margin of 13.63%. The firm had revenue of $299.00 million during the quarter, compared to the consensus estimate of $292.30 million. During the same period in the previous year, the firm posted $0.49 EPS. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. research analysts expect that Lumentum Holdings will post 2.89 EPS for the current fiscal year.

Several equities research analysts have recently commented on the company. Stifel Nicolaus reissued a “buy” rating and set a $79.00 price target on shares of Lumentum in a research note on Thursday, March 15th. UBS assumed coverage on Lumentum in a research note on Wednesday, January 31st. They set a “buy” rating and a $57.00 price target on the stock. Barclays boosted their price target on Lumentum from $67.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 2nd. DA Davidson boosted their price target on Lumentum to $101.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Finally, Zacks Investment Research raised Lumentum from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research note on Friday, May 4th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Lumentum presently has an average rating of “Buy” and a consensus price target of $81.29.

Several institutional investors have recently modified their holdings of LITE. SeaCrest Wealth Management LLC acquired a new position in Lumentum in the 4th quarter valued at $128,000. Envestnet Asset Management Inc. raised its holdings in Lumentum by 1,164.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 3,653 shares of the technology company’s stock valued at $178,000 after acquiring an additional 3,364 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Lumentum by 42.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,797 shares of the technology company’s stock valued at $186,000 after acquiring an additional 1,135 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in Lumentum by 106.7% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,864 shares of the technology company’s stock valued at $189,000 after acquiring an additional 1,995 shares during the last quarter. Finally, KBC Group NV acquired a new position in Lumentum in the 1st quarter valued at $191,000.

Lumentum Company Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. It operates through two segments, Optical Communications and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.

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

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