State of New Jersey Common Pension Fund D grew its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 18.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 260,000 shares of the technology company’s stock after acquiring an additional 40,000 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.42% of Lumentum Holdings worth $14,131,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nationwide Fund Advisors boosted its position in shares of Lumentum Holdings by 9.9% during the 3rd quarter. Nationwide Fund Advisors now owns 101,098 shares of the technology company’s stock valued at $5,495,000 after acquiring an additional 9,070 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in shares of Lumentum Holdings by 169.4% during the 2nd quarter. Lord Abbett & CO. LLC now owns 584,992 shares of the technology company’s stock valued at $33,374,000 after acquiring an additional 367,860 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Lumentum Holdings during the 2nd quarter valued at approximately $311,000. WINTON GROUP Ltd boosted its position in shares of Lumentum Holdings by 28.4% during the 2nd quarter. WINTON GROUP Ltd now owns 25,319 shares of the technology company’s stock valued at $1,444,000 after acquiring an additional 5,594 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Lumentum Holdings by 2,773.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 51,576 shares of the technology company’s stock valued at $2,942,000 after acquiring an additional 49,781 shares during the last quarter. Hedge funds and other institutional investors own 95.74% of the company’s stock.
A number of research analysts have recently commented on the company. Barclays PLC reiterated a “hold” rating on shares of Lumentum Holdings in a research report on Friday, July 14th. Stifel Nicolaus reiterated a “buy” rating and set a $73.00 target price on shares of Lumentum Holdings in a research report on Saturday, July 22nd. Zacks Investment Research downgraded Lumentum Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Rosenblatt Securities set a $75.00 target price on Lumentum Holdings and gave the company a “buy” rating in a research report on Tuesday, October 24th. Finally, BidaskClub downgraded Lumentum Holdings from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Lumentum Holdings currently has a consensus rating of “Buy” and an average price target of $66.31.
Shares of Lumentum Holdings Inc. (NASDAQ LITE) opened at 65.60 on Tuesday. Lumentum Holdings Inc. has a 12-month low of $33.60 and a 12-month high of $65.80. The stock’s market cap is $4.04 billion. The company’s 50-day moving average price is $57.39 and its 200 day moving average price is $57.39.
Lumentum Holdings (NASDAQ:LITE) last released its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.18. The company 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 firm’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. On average, equities analysts predict that Lumentum Holdings Inc. will post $3.06 earnings per share for the current year.
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In other Lumentum Holdings news, Director Penny Herscher sold 1,313 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $53.04, for a total transaction of $69,641.52. Following the transaction, the director now owns 26,464 shares of the company’s stock, valued at $1,403,650.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Vincent Retort sold 14,875 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $51.59, for a total value of $767,401.25. Following the transaction, the chief operating officer now directly owns 92,694 shares in the company, valued at approximately $4,782,083.46. The disclosure for this sale can be found here. Insiders have sold 87,269 shares of company stock worth $4,602,526 in the last three months. 0.76% of the stock is currently owned by corporate insiders.
Lumentum Holdings 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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