Lumentum Holdings Inc. (NASDAQ:LITE) Shares Sold by Stifel Financial Corp

Stifel Financial Corp reduced its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 48.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 10,365 shares of the technology company’s stock after selling 9,603 shares during the period. Stifel Financial Corp’s holdings in Lumentum were worth $657,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Quarry LP boosted its stake in shares of Lumentum by 85.5% in the third quarter. Quarry LP now owns 436 shares of the technology company’s stock worth $28,000 after buying an additional 201 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Lumentum in the 3rd quarter worth approximately $33,000. Point72 DIFC Ltd purchased a new stake in Lumentum in the 2nd quarter worth approximately $36,000. GAMMA Investing LLC grew its stake in shares of Lumentum by 141.6% during the 3rd quarter. GAMMA Investing LLC now owns 894 shares of the technology company’s stock worth $57,000 after purchasing an additional 524 shares during the period. Finally, Signaturefd LLC increased its holdings in shares of Lumentum by 93.9% during the 2nd quarter. Signaturefd LLC now owns 1,144 shares of the technology company’s stock valued at $58,000 after purchasing an additional 554 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insider Buying and Selling at Lumentum

In other Lumentum news, CAO Matthew Joseph Sepe sold 8,172 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $87.60, for a total transaction of $715,867.20. Following the completion of the transaction, the chief accounting officer now owns 21,138 shares of the company’s stock, valued at $1,851,688.80. This trade represents a 27.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Vincent Retort sold 41,710 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $89.52, for a total transaction of $3,733,879.20. Following the completion of the sale, the insider now directly owns 147,515 shares in the company, valued at $13,205,542.80. This trade represents a 22.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,797 shares of company stock worth $8,881,428. Insiders own 0.19% of the company’s stock.

Lumentum Stock Performance

NASDAQ:LITE opened at $84.34 on Thursday. The company has a market cap of $5.79 billion, a P/E ratio of -10.19 and a beta of 0.95. Lumentum Holdings Inc. has a twelve month low of $38.28 and a twelve month high of $96.25. The company’s 50-day moving average price is $80.28 and its 200-day moving average price is $63.78. The company has a current ratio of 5.36, a quick ratio of 4.04 and a debt-to-equity ratio of 2.87.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Morgan Stanley raised their price target on shares of Lumentum from $76.00 to $83.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Susquehanna raised their target price on Lumentum from $80.00 to $115.00 and gave the company a “positive” rating in a research report on Friday, November 8th. Northland Securities upped their price target on Lumentum from $45.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, November 8th. Barclays raised their price objective on Lumentum from $40.00 to $80.00 and gave the company an “underweight” rating in a report on Monday, November 11th. Finally, Rosenblatt Securities upped their target price on Lumentum from $69.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lumentum has an average rating of “Hold” and an average price target of $75.38.

Lumentum Profile

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