Arizona State Retirement System raised its position in shares of Lumentum Holdings Inc (NASDAQ:LITE) by 226.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 104,123 shares of the technology company’s stock after purchasing an additional 72,263 shares during the period. Arizona State Retirement System owned 0.17% of Lumentum worth $5,092,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Stifel Financial Corp grew its holdings in Lumentum by 6.6% during the second quarter. Stifel Financial Corp now owns 7,271 shares of the technology company’s stock valued at $415,000 after purchasing an additional 447 shares during the period. Ameritas Investment Partners Inc. grew its holdings in Lumentum by 22.6% during the second quarter. Ameritas Investment Partners Inc. now owns 5,352 shares of the technology company’s stock valued at $305,000 after purchasing an additional 988 shares during the period. Virginia Retirement Systems ET AL grew its holdings in Lumentum by 22.9% during the third quarter. Virginia Retirement Systems ET AL now owns 5,900 shares of the technology company’s stock valued at $321,000 after purchasing an additional 1,100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Lumentum by 42.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,797 shares of the technology company’s stock valued at $186,000 after purchasing an additional 1,135 shares during the period. Finally, Piedmont Investment Advisors LLC grew its holdings in Lumentum by 11.3% during the third quarter. Piedmont Investment Advisors LLC now owns 13,391 shares of the technology company’s stock valued at $728,000 after purchasing an additional 1,360 shares during the period.
Several equities analysts have weighed in on the company. MKM Partners increased their price objective on Lumentum to $71.00 and gave the company a “neutral” rating in a report on Thursday, November 2nd. Barclays raised their price target on Lumentum from $59.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. DA Davidson raised their price target on Lumentum from $82.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Craig Hallum reaffirmed a “buy” rating and issued a $85.00 price target (up from $75.00) on shares of Lumentum in a report on Wednesday, November 1st. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $75.00 price target on shares of Lumentum in a report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $72.31.
In related news, Director Martin A. Kaplan sold 3,000 shares of Lumentum stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $55.03, for a total transaction of $165,090.00. Following the completion of the sale, the director now owns 26,573 shares of the company’s stock, valued at $1,462,312.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jason Reinhardt sold 9,308 shares of Lumentum stock in a transaction on Friday, February 9th. The shares were sold at an average price of $56.82, for a total value of $528,880.56. Following the sale, the executive vice president now directly owns 59,635 shares of the company’s stock, valued at approximately $3,388,460.70. The disclosure for this sale can be found here. Insiders have sold 49,861 shares of company stock valued at $2,875,627 in the last three months. 0.76% of the stock is owned by corporate insiders.
Shares of Lumentum Holdings Inc (LITE) opened at $59.40 on Friday. The stock has a market capitalization of $3,625.44, a price-to-earnings ratio of 40.68, a P/E/G ratio of 1.10 and a beta of 0.56. Lumentum Holdings Inc has a 52 week low of $40.35 and a 52 week high of $68.63. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.16 and a current ratio of 4.84.
Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.67. The company had revenue of $404.60 million during the quarter, compared to analyst estimates 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 quarter last year, the company earned $0.57 earnings per share. equities analysts expect that Lumentum Holdings Inc will post 2.85 EPS for the current fiscal year.
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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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