State of New Jersey Common Pension Fund D lowered its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 53.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 220,000 shares of the technology company’s stock after selling 250,000 shares during the period. State of New Jersey Common Pension Fund D owned 0.36% of Lumentum Holdings worth $12,551,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in LITE. Great West Life Assurance Co. Can raised its stake in shares of Lumentum Holdings by 7.8% in the first quarter. Great West Life Assurance Co. Can now owns 76,101 shares of the technology company’s stock worth $4,055,000 after buying an additional 5,507 shares during the last quarter. Tocqueville Asset Management L.P. raised its stake in shares of Lumentum Holdings by 112.5% in the first quarter. Tocqueville Asset Management L.P. now owns 25,500 shares of the technology company’s stock worth $1,360,000 after buying an additional 13,500 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD bought a new stake in shares of Lumentum Holdings during the first quarter worth $55,001,000. Essex Investment Management Co. LLC raised its stake in shares of Lumentum Holdings by 46.3% in the first quarter. Essex Investment Management Co. LLC now owns 68,962 shares of the technology company’s stock worth $3,679,000 after buying an additional 21,834 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Lumentum Holdings by 65.4% in the first quarter. Janney Montgomery Scott LLC now owns 102,404 shares of the technology company’s stock worth $5,463,000 after buying an additional 40,480 shares during the last quarter. Institutional investors own 97.36% of the company’s stock.
Shares of Lumentum Holdings Inc. (NASDAQ LITE) traded up 1.27% during mid-day trading on Friday, reaching $52.00. 1,871,209 shares of the company’s stock traded hands. Lumentum Holdings Inc. has a one year low of $32.90 and a one year high of $68.63. The firm’s market cap is $3.20 billion. The firm’s 50-day moving average is $59.67 and its 200 day moving average is $53.22.
Lumentum Holdings (NASDAQ:LITE) last released its earnings results on Wednesday, August 9th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.18. The firm had revenue of $222.70 million for the quarter, compared to analyst estimates of $229.45 million. Lumentum Holdings had a positive return on equity of 18.12% and a negative net margin of 10.25%. The company’s revenue was down 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 EPS. Analysts predict that Lumentum Holdings Inc. will post $3.02 earnings per share for the current year.
Several equities research analysts have recently commented on the stock. Stifel Nicolaus boosted their price target on shares of Lumentum Holdings from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, May 5th. Barclays PLC restated a “hold” rating on shares of Lumentum Holdings in a report on Friday, July 14th. BidaskClub lowered shares of Lumentum Holdings from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Zacks Investment Research lowered shares of Lumentum Holdings from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 23rd. Finally, B. Riley restated a “buy” rating and issued a $58.00 price target on shares of Lumentum Holdings in a report on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $64.75.
In other Lumentum Holdings news, COO Vincent Retort sold 805 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $58.15, for a total value of $46,810.75. Following the completion of the sale, the chief operating officer now owns 66,755 shares in the company, valued at approximately $3,881,803.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Penny Herscher sold 1,313 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $53.04, for a total value of $69,641.52. Following the completion of the sale, the director now owns 26,464 shares of the company’s stock, valued at approximately $1,403,650.56. The disclosure for this sale can be found here. Insiders sold a total of 3,203 shares of company stock worth $179,545 in the last ninety days. Insiders own 0.76% of the company’s stock.
Lumentum Holdings Company Profile
Lumentum Holdings Inc 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).
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