Investors Purchase High Volume of Lumentum Call Options (NASDAQ:LITE)

Lumentum Holdings Inc. (NASDAQ:LITE) was the target of some unusual options trading activity on Tuesday. Investors bought 15,020 call options on the company. This is an increase of 901% compared to the typical volume of 1,501 call options.

Analyst Upgrades and Downgrades

LITE has been the topic of several recent analyst reports. Barclays lifted their price objective on shares of Lumentum from $40.00 to $45.00 and gave the company an “underweight” rating in a research report on Tuesday, January 16th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price target on shares of Lumentum in a research note on Friday, February 9th. Raymond James raised their price objective on Lumentum from $51.50 to $58.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Susquehanna decreased their target price on Lumentum from $65.00 to $60.00 and set a “positive” rating on the stock in a research report on Friday, February 9th. Finally, Rosenblatt Securities increased their price target on Lumentum from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Lumentum presently has an average rating of “Hold” and a consensus price target of $52.69.

Lumentum Stock Up 1.4 %

Lumentum stock traded up $0.63 during trading hours on Tuesday, reaching $44.15. The stock had a trading volume of 735,685 shares, compared to its average volume of 1,385,599. The company has a market cap of $2.98 billion, a price-to-earnings ratio of -11.19 and a beta of 1.09. The business’s 50 day moving average price is $46.73 and its 200-day moving average price is $47.10. Lumentum has a 52 week low of $35.35 and a 52 week high of $65.16. The company has a debt-to-equity ratio of 1.96, a current ratio of 3.13 and a quick ratio of 2.42.

Lumentum (NASDAQ:LITE) last announced its earnings results on Thursday, February 8th. The technology company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.07). The firm had revenue of $366.80 million during the quarter, compared to analyst estimates of $363.44 million. Lumentum had a negative net margin of 18.52% and a positive return on equity of 1.04%. Sell-side analysts anticipate that Lumentum will post -0.64 EPS for the current year.

Insider Buying and Selling at Lumentum

In related news, CAO Matthew Joseph Sepe sold 9,903 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $49.23, for a total value of $487,524.69. Following the transaction, the chief accounting officer now directly owns 33,188 shares of the company’s stock, valued at approximately $1,633,845.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of Lumentum

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Lumentum by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 7,196,205 shares of the technology company’s stock worth $377,225,000 after purchasing an additional 442,177 shares during the period. Earnest Partners LLC lifted its stake in Lumentum by 26.2% during the 3rd quarter. Earnest Partners LLC now owns 1,624,514 shares of the technology company’s stock valued at $73,396,000 after acquiring an additional 337,096 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Lumentum by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,491,502 shares of the technology company’s stock valued at $78,187,000 after acquiring an additional 44,291 shares during the last quarter. Norges Bank acquired a new stake in shares of Lumentum in the fourth quarter worth $53,785,000. Finally, Robeco Schweiz AG lifted its position in Lumentum by 28.1% during the first quarter. Robeco Schweiz AG now owns 843,000 shares of the technology company’s stock valued at $39,916,000 after purchasing an additional 185,000 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Lumentum Company 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.