Crossmark Global Holdings Inc. Sells 2,982 Shares of Lumentum Holdings Inc (LITE)

Crossmark Global Holdings Inc. lowered its stake in Lumentum Holdings Inc (NASDAQ:LITE) by 20.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 11,608 shares of the technology company’s stock after selling 2,982 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Lumentum were worth $568,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Whale Rock Capital Management LLC grew its stake in shares of Lumentum by 86.0% in the 3rd quarter. Whale Rock Capital Management LLC now owns 1,590,359 shares of the technology company’s stock worth $86,436,000 after buying an additional 735,239 shares during the last quarter. State Street Corp grew its stake in shares of Lumentum by 16.3% in the 2nd quarter. State Street Corp now owns 1,491,562 shares of the technology company’s stock worth $85,095,000 after buying an additional 208,872 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Lumentum by 17.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,231,582 shares of the technology company’s stock worth $66,937,000 after buying an additional 180,426 shares during the last quarter. Cramer Rosenthal Mcglynn LLC grew its stake in shares of Lumentum by 51.5% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 1,139,914 shares of the technology company’s stock worth $61,954,000 after buying an additional 387,290 shares during the last quarter. Finally, AXA grew its stake in shares of Lumentum by 27.7% in the 3rd quarter. AXA now owns 950,772 shares of the technology company’s stock worth $51,674,000 after buying an additional 206,281 shares during the last quarter.

Several analysts recently weighed in on the company. MKM Partners upped their price target on Lumentum to $71.00 and gave the stock a “neutral” rating in a research note on Thursday, November 2nd. Barclays upped their price target on Lumentum from $59.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 2nd. DA Davidson upped their price target on Lumentum from $82.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Craig Hallum restated a “buy” rating and issued a $85.00 price target (up previously from $75.00) on shares of Lumentum in a research note on Wednesday, November 1st. Finally, Jefferies Group restated a “buy” rating and issued a $75.00 price target on shares of Lumentum in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $72.31.

Lumentum Holdings Inc (LITE) opened at $59.05 on Tuesday. The stock has a market capitalization of $3,684.72, a P/E ratio of 24.20, a P/E/G ratio of 1.11 and a beta of 0.56. Lumentum Holdings Inc has a 12-month low of $40.35 and a 12-month high of $68.63. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.84 and a quick ratio of 4.16.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.67. The business had revenue of $404.60 million for the quarter, compared to analysts’ expectations of $357.03 million. Lumentum had a return on equity of 24.06% and a net margin of 8.97%. The firm’s quarterly revenue was up 52.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 EPS. equities analysts anticipate that Lumentum Holdings Inc will post 2.85 earnings per share for the current fiscal year.

In other news, Director Harold L. Covert sold 7,564 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $56.58, for a total transaction of $427,971.12. Following the transaction, the director now directly owns 22,628 shares of the company’s stock, valued at approximately $1,280,292.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Penny Herscher sold 822 shares of the stock in a transaction on Friday, December 8th. The shares were sold at an average price of $50.61, for a total value of $41,601.42. Following the transaction, the director now directly owns 34,793 shares in the company, valued at $1,760,873.73. The disclosure for this sale can be found here. Insiders have sold a total of 21,942 shares of company stock worth $1,238,423 over the last three months. Insiders own 0.76% of the company’s stock.

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About Lumentum

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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Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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