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Lumentum Holdings Inc (NASDAQ:LITE). NASDAQ:LITE) Executive Vice President and Chief Financial Officer Ali Wajid sold 2,222 shares of common stock on August 18 at a price of $116.45, totaling $258,751. According to a Form 4 filing with the Securities and Exchange Commission, the sale was executed under a Rule 10b5-1 trading plan adopted August 30, 2024. The sale comes amid Lumentum’s strong market performance, with the stock up over 123% in the past year and currently trading near $118, giving the company a market capitalization of $8.2 billion.
The filing also indicates that 2,294 shares were withheld by Lumentum Holdings on August 15 at $115.86, totaling $265,782, to cover income tax obligations related to the vesting of restricted stock units. According to InvestingPro analysis, the company maintains strong liquidity with a current ratio of 4.37, while analysts have recently revised earnings estimates upward for the upcoming period.
Following these transactions, Ali Wajid directly owns 45,470 shares of Lumentum Holdings Inc.
In other recent news, Lumentum Holdings reported impressive financial results for the fourth quarter of fiscal year 2025, with earnings per share reaching $0.88, surpassing the forecasted $0.80. The company’s revenue also exceeded expectations, coming in at $480.7 million compared to the anticipated $467.31 million. This performance has led to several analysts adjusting their outlook on the company. BofA Securities upgraded Lumentum’s stock rating from Underperform to Neutral, citing potential revenue growth that could occur earlier than previously expected. Stifel raised its price target for Lumentum to $132, maintaining a Buy rating, driven by strong demand in datacom components. Wolfe Research also increased its price target to $150, highlighting the influence of artificial intelligence on optical traffic growth. Additionally, Raymond (NSE:RYMD) James raised its price target to $145, with a Strong Buy rating, noting the positive impact of Optical Circuit Switches in the recent quarter. These developments indicate a positive sentiment among analysts regarding Lumentum’s future performance.
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