Lumentum Holdings Inc. (NASDAQ:LITE) Shares Bought by State of Wisconsin Investment Board

State of Wisconsin Investment Board raised its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 116.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 70,000 shares of the technology company’s stock after purchasing an additional 37,700 shares during the period. State of Wisconsin Investment Board owned 0.11% of Lumentum worth $3,804,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Suntrust Banks Inc. increased its position in Lumentum by 0.4% during the second quarter. Suntrust Banks Inc. now owns 9,468 shares of the technology company’s stock worth $539,000 after purchasing an additional 37 shares during the last quarter. LS Investment Advisors LLC increased its position in Lumentum by 2.1% during the second quarter. LS Investment Advisors LLC now owns 3,569 shares of the technology company’s stock worth $204,000 after purchasing an additional 75 shares during the last quarter. Arizona State Retirement System increased its position in Lumentum by 0.7% during the second quarter. Arizona State Retirement System now owns 29,060 shares of the technology company’s stock worth $1,658,000 after purchasing an additional 200 shares during the last quarter. Stifel Financial Corp increased its position in Lumentum by 6.6% during the second quarter. Stifel Financial Corp now owns 7,271 shares of the technology company’s stock worth $415,000 after purchasing an additional 447 shares during the last quarter. Finally, Texas Permanent School Fund increased its position in Lumentum by 1.2% during the second quarter. Texas Permanent School Fund now owns 40,628 shares of the technology company’s stock worth $2,318,000 after purchasing an additional 468 shares during the last quarter. 95.70% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Martin A. Kaplan sold 15,000 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $57.07, for a total transaction of $856,050.00. Following the completion of the sale, the director now directly owns 29,573 shares of the company’s stock, valued at approximately $1,687,731.11. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Vincent Retort sold 30,706 shares of the firm’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $54.46, for a total transaction of $1,672,248.76. Following the sale, the chief operating officer now directly owns 110,770 shares of the company’s stock, valued at $6,032,534.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,891 shares of company stock valued at $3,675,432. Company insiders own 0.76% of the company’s stock.

Lumentum Holdings Inc. (LITE) traded up $2.15 on Thursday, reaching $48.55. 3,527,103 shares of the company were exchanged, compared to its average volume of 1,826,840. The firm has a market cap of $2,923.30, a price-to-earnings ratio of 32.97, a price-to-earnings-growth ratio of 0.86 and a beta of 0.83. Lumentum Holdings Inc. has a 1-year low of $34.15 and a 1-year high of $68.63. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.38 and a current ratio of 5.21.

Several equities analysts recently commented on LITE shares. UBS upped their price target on shares of Lumentum from $66.00 to $70.00 in a research report on Wednesday, August 9th. Craig Hallum reissued a “buy” rating and issued a $75.00 price objective on shares of Lumentum in a research report on Wednesday, August 9th. Rosenblatt Securities set a $70.00 price objective on shares of Lumentum and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Piper Jaffray Companies reissued an “overweight” rating and issued a $68.00 price objective on shares of Lumentum in a research report on Thursday, August 10th. Finally, Barclays increased their price objective on shares of Lumentum from $50.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $68.06.

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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).

Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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