Fox Run Management L.L.C. acquired a new stake in shares of Lumentum Holdings Inc (NASDAQ:LITE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,295 shares of the technology company’s stock, valued at approximately $846,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Suntrust Banks Inc. increased its holdings in shares of Lumentum by 0.4% during the 2nd quarter. Suntrust Banks Inc. now owns 9,468 shares of the technology company’s stock valued at $539,000 after acquiring an additional 37 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of Lumentum by 6.6% during the 2nd quarter. Stifel Financial Corp now owns 7,271 shares of the technology company’s stock valued at $415,000 after acquiring an additional 447 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in shares of Lumentum by 71.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,062 shares of the technology company’s stock valued at $118,000 after acquiring an additional 862 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Lumentum by 22.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,352 shares of the technology company’s stock valued at $305,000 after acquiring an additional 988 shares during the last quarter. Finally, Virginia Retirement Systems ET AL increased its holdings in shares of Lumentum by 22.9% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 5,900 shares of the technology company’s stock valued at $321,000 after acquiring an additional 1,100 shares during the last quarter.
In other news, Director Penny Herscher sold 822 shares of Lumentum stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $50.61, for a total transaction of $41,601.42. Following the sale, the director now owns 34,793 shares of the company’s stock, valued at approximately $1,760,873.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aaron Tachibana sold 1,248 shares of Lumentum stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $60.00, for a total value of $74,880.00. Following the sale, the chief financial officer now directly owns 69,830 shares in the company, valued at approximately $4,189,800. The disclosure for this sale can be found here. Insiders have sold a total of 31,643 shares of company stock worth $1,806,554 in the last three months. 0.76% of the stock is owned by insiders.
A number of brokerages have recently commented on LITE. BidaskClub raised Lumentum from a “sell” rating to a “hold” rating in a report on Saturday, January 13th. Barclays raised Lumentum from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $65.00 to $67.00 in a report on Wednesday, January 10th. B. Riley reissued a “buy” rating and set a $89.00 price objective on shares of Lumentum in a report on Friday, January 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 target price on shares of Lumentum in a report on Thursday, October 12th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $75.00 target price on shares of Lumentum in a report on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $69.69.
Shares of Lumentum Holdings Inc (NASDAQ LITE) opened at $48.85 on Friday. Lumentum Holdings Inc has a fifty-two week low of $34.15 and a fifty-two week high of $68.63. The firm has a market capitalization of $3,205.40, a P/E ratio of 36.15, a PEG ratio of 0.92 and a beta of 0.84. The company has a current ratio of 5.21, a quick ratio of 4.38 and a debt-to-equity ratio of 0.50.
Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.09). Lumentum had a positive return on equity of 15.99% and a negative net margin of 9.32%. research analysts expect that Lumentum Holdings Inc will post 2.86 earnings per share for the current fiscal year.
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Lumentum 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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