Here is the rundown on market activity for Lumentum Holdings Inc. (NASDAQ:LITE). Alan S. Lowe, CEO let go of $836,975 worth of shares at a price of $35.45 on Tue the 6th. The CEO now owns $0 of the stock per an SEC filing yesterday. Aaron Tachibana, CFO reported the sale of 6,086 shares of (LITE). The shares were sold on August 19th for an average price of $34.64. The CFO now owns $458,599 of the stock according to the SEC filing.
Vincent Retort, EVP sold $1,184,190 worth of shares at an average price of $30.00 on July 25th. Retort now owns $17,610 of stock as recorded in a recent Form 4 SEC filing.
These funds have also shifted positions in (LITE). As of the end of the quarter Mason Street Advisors, LLC had bought a total of 1,667 shares growing its stake by 21.9%. The value of the company’s investment in Lumentum Holdings Inc. increased from $167,000 to $224,000 a change of $57,000 since the last quarter. Northwestern Mutual Wealth Management Co augmented its investment by buying 684 shares an increase of 2,137.5% from 12/31/2015 to 06/30/2016. Northwestern Mutual Wealth Management Co owns 716 shares worth $17,000. The value of the position overall is up by 1,600.0%.
Schwab Charles Investment Management Inc grew its stake by buying 96,800 shares an increase of 104.0%. Schwab Charles Investment Management Inc now controls 189,881 shares with a value of $4,596,000. The total value of its holdings increased 124.2%. As of quarter end Stifel Financial Corp had disposed of 4 shares trimming its position 40.0%. The value of the investment in (LITE) went from $0 to $1,000 increasing 0.0% quarter to quarter.
September 26 investment analysts at MKM Partners held the stock rating at “Buy” and raised the price target to $50.00 from $22.00. On July 25 the company was changed to a “Strong Buy” by Needham which was a boost from the previous “” rating.
On May 31 the stock rating was upgraded from “” to “Market Perform” in an announcement from Raymond James. On May 5 the company was upgraded to “Overweight” from “Neutral” with a current price target of $28.00 by JP Morgan.
Equity analyst JP Morgan both upgraded the stock and raised the price target on May 5 boosting the price target from $20.00 to $28.00 and moving the rating from “Neutral” to “Overweight”. Drexel Hamilton started coverage giving it an initial rating of “Hold”.
The company is so far trading up by 0.36 percent from yesterday’s close. It is currently trading at $41.99 which is slightly above the 50 day moving average which is $36.10 and which is just a bit higher than the 200 day moving average of $28.32. The 50 day moving average was up $5.89 or +16.30% and the 200 day average moved up $13.67.
As of the latest earnings report the EPS was $-0.05 and is expected to be $1.86 for the current year with 60,082,000 shares outstanding. Next quarter’s EPS is estimated at $0.49 and the next full year EPS is projected to be $2.18.
Traders are feeling more bullish on shares of the company recently if you pay attention to the downtick in short interest. The company recorded a fall in short interest of -0.05% as of September 15, 2016 from the last reporting period. Short interest decreased from 3,259,694 to 3,098,343 over that timeframe. The days to cover decreased to 0.0 and the percentage of shorted shares is 0.05% as of September 15.