There has been some selling insider activity on Lumentum Holdings Inc. (NASDAQ:LITE) recently. CEO Alan S. Lowe sold 23,610 shares at a price of $35.45 on Tue the 6th. That brings the CEO’s holdings to $0 as recorded in a recent Form 4 SEC filing. Aaron Tachibana, CFO disclosed the sale of 6,086 shares. The shares were purchased at an average price of $34.64. Tachibana now owns $458,599 of the stock per the Form 4 SEC filing.
Vincent Retort, EVP sold $1,184,190 worth of shares at an average price of $30.00 on July 25th. That brings Retort’s holdings to $17,610 per an SEC filing yesterday.
The following firms have also recently changed their position 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 34.1% quarter to quarter. Northwestern Mutual Wealth Management Co grew its ownership by buying 684 shares an increase of 2,137.5% in the quarter. Northwestern Mutual Wealth Management Co claims 716 shares valued at $17,000. The total value of its holdings increased 1,600.0%.
Schwab Charles Investment Management Inc added to its holdings by buying 96,800 shares an increase of 104.0%. Schwab Charles Investment Management Inc currently owns 189,881 shares with a value of $4,596,000. The value of the position overall is up by 124.2%. Stifel Financial Corp cut its position by selling 4 shares a decrease of 40.0% from 12/31/2015 to 06/30/2016. Stifel Financial Corp owns 6 shares worth $1,000. The total value of its holdings increased 0.0%.
September 26 investment analysts at MKM Partners made no change to the company rating of “Buy” and raised the price expectation to $50.00 from $22.00. On July 25 the company was rated “Strong Buy” by Needham which was a boost from the previous “” rating.
On May 31, 2016 the stock rating was set at “Market Perform” according to a Raymond James report which is up from the previous “” rating. JP Morgan upgraded the stock and raised the price target on May 5 changing the price objective from $20.00 to $28.00 and raising the rating from “Neutral” to “Overweight”.
On May 5 the stock rating was upgraded to “Overweight” from “Neutral” and a price target of $28.00 was set in a report from JP Morgan. Drexel Hamilton released its first research report on the stock with an initial rating of “Hold”.
The company is up from yesterday’s close of $41.84. It is trading at $41.99 which is marginally higher than $36.10, the 50 day moving average and which is marginally over the 200 day moving average of $28.32. The 50 day moving average went up $5.89 or +16.30% and the 200 day average moved up $13.67.
In 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 currently outstanding. Next quarter’s EPS is forecasted to be $0.49 and the next full year EPS is anticipated to be $2.18.
Traders are more bullish on shares of the company of late if you look at the change in short interest. The stock saw a fall in short interest from August 31, 2016 to September 15, 2016 of -0.05%. Short shares decreased from 3,259,694 to 3,098,343 over that period. With short interest at 3,098,343 and short average daily volume at 1,077,255, the short-interest ratio is 0.0 and the percentage of shorted shares was 0.05% on September 15.