Lumentum Holdings Inc. (LITE) Shares Gap Down Following Insider Selling

State of Alaska Department of Revenue now owns 6,150 shares of the technology company's stock valued at $328,000 after buying an additional 230 shares during the last quarter. Sei Investments Co.'s holdings in Lumentum Holdings were worth $962,000 as of its most recent filing with the SEC. Institutional investors own 95.61% of the company's stock. BlackRock Inc. increased its position in Lumentum Holdings by 151,490.5% in the first quarter.

05/23/2017 - Rosenblatt Securities began new coverage on Lumentum giving the company a "buy" rating. Vanguard Group Inc. increased its position in Lumentum Holdings by 10.4% in the first quarter. LLC now owns 47,781 shares of the technology company's stock valued at $1,996,000 after buying an additional 12,602 shares during the period. Tocqueville Asset Management L.P. acquired a new stake in shares of Lumentum Holdings during the third quarter valued at about $773,000. Inc. now owns 36,569 shares of the technology company's stock valued at $1,951,000 after buying an additional 229 shares during the last quarter. (LITE) stock; watched recent volatility movements, they can see that shares have been recorded at 5.11% for the week, and 5.15% for the last month. (LITE) traded up 2.52% on Friday, reaching $63.10. (NASDAQ:COMM) trades at $37.15 having a market capitalization of $7.22 billion.

In taking a look at technical levels, shares are trading -8.88% away from the 50 day simple moving average and -15.64% away from the 200 day simple moving average. Lumentum Holdings has a 52 week low of $22.04 and a 52 week high of $67.30. The correct version of this report can be read at https://baseballnewssource.com/markets/stifel-nicolaus-boosts-lumentum-holdings-inc-lite-price-target-to-53-00-updated-updated-updated/797002.html. The technology company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.12. The business had revenue of $255.80 million during the quarter, compared to the consensus estimate of $257.22 million. Lumentum Holdings had a negative net margin of 3.28% and a positive return on equity of 19.55%. During the same period in the previous year, the business earned $0.32 EPS.

Lumentum Holdings Inc. (NASDAQ:LITE) has seen its price went down by -1.01% over the course of one week. If you are reading this article on another site, it was illegally stolen and reposted in violation of U.S. and worldwide copyright law. Finally, MKM Partners reaffirmed a "neutral" rating and set a $50.00 price target on shares of Lumentum Holdings in a report on Monday, February 27th.

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Shares of Lumentum Holdings Inc.

Several research analysts have recently commented on the company. Raymond James Financial, Inc. reissued a "buy" rating on shares of Lumentum Holdings in a report on Tuesday, April 25th. The third largest holder is Vanguard Group Inc, which now holds $328.63 million worth of this stock and that ownership represents almost 8.74% of its market capitalization. Needham & Company LLC lifted their price objective on shares of Lumentum Holdings from $56.00 to $80.00 and gave the stock a "strong-buy" rating in a research report on Monday, June 12th. Raymond James upgraded Lumentum Holdings Inc (NASDAQ:LITE) on Tuesday, May 31 to "Market Perform" rating.

Based on the latest notes released to investors, 4 analysts have issued a rating of "buy", 5 analysts "outperform", 5 analysts "hold", 1 analysts "underperform" and 0 analysts "sell". Lumentum Holdings presently has a consensus rating of "Buy" and a consensus target price of $54.33. Following the transaction, the chief executive officer now directly owns 153,439 shares of the company's stock, valued at approximately $8,330,203.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Alliancebernstein L.P. now owns 1,837,130 shares of the technology company's stock worth $98,011,000 after buying an additional 1,762,060 shares in the last quarter. The shares were sold at an average price of $54.29, for a total value of $323,242.66.

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