Company shares last traded at $63.15 slightly over $57.52, the stock’s 50 day moving average and marginally over the 200 day moving average of $57.54. The 50 day moving average moved up $5.63 and the 200 day average went up by +9.75%. Trading volume for Lumentum Holdings Inc. was 3,420K on Tuesday. Volume was up 97.40% over the stocks average daily volume.
Investors are more bearish on Lumentum Holdings Inc. of late if you pay attention to the uptick in short interest. The stock saw a rise in short interest of 0.10% as of October 13, 2017 from the last reporting period. Short shares increased from 11,015,428 to 11,026,039 over that period. Days to cover increased 2.0 to 8.0 and the percentage of shorted shares was 0.18% on October 13.
Here is a rundown on some insider market activity for Lumentum Holdings Inc. (NASDAQ:LITE). Alan S. Lowe, CEO reported the sale of 28,095 shares of LITE stock. The shares sold for $51.93. Lowe now owns $12,349,473 of the stock per the Form 4 SEC filing. Alan S. Lowe, CEO disclosed the sale of 7,916 shares. The shares were sold on August 17th for an average price of $52.62. The CEO now owns $7,427,944 of the stock according to the SEC filing.
Aaron Tachibana, CFO disclosed the sale of 5,494 shares of (LITE). The shares were purchased at an average price of $52.88. The CFO now owns $3,613,449 of the stock per the Form 4 SEC filing.
The following firms have recently changed their position in LITE. As of quarter end State Of New Jersey Common Pension Fund D had acquired 40,000 shares growing its holdings by 18.2%. The value of the total investment in Lumentum Holdings Inc. went from $12,551,000 to $14,131,000 a change of $1,580,000 since the last quarter. As of the end of the quarter Sumitomo Mitsui Asset Management Company, Ltd had bought a total of 216,520 shares growing its position 30.8%. The value of the investment in Lumentum Holdings Inc. increased from $40,134,000 to $50,002,000 increasing 24.6% quarter over quarter.
Simplex Trading, LLC cut its position by shedding 265 shares a decrease of 0.7%. Simplex Trading, LLC now controls 36,370 shares with a value of $1,976,000. The total value of its holdings decreased 5.5%. As of the end of the quarter Artemis Investment Management LLP had bought 585,432 shares growing its stake by 676.1%. The value of the investment in (LITE) increased from $4,938,000 to $36,541,000 a change of 640.0% quarter to quarter.
August 10 investment analysts at Barclays held the company rating at “Equal-Weight” and raised the price target from $20.00 to $59.00.
In the latest earnings report the EPS was $-1.71 and is estimated to be $3.06 for the current year with 61,515,000 shares now outstanding. Analysts expect next quarter’s EPS will be $1.00 with next year’s EPS anticipated to be $3.54.
Lumentum Holdings Inc., launched on February 10, 2015, is a provider of optical and photonic products for a range of end market applications, including data communications (Datacom) and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Company operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The Business’s customers include original equipment manufacturers (OEMs)..