Lyon Street Capital LLC Has $3.91 Million Holdings in Lumentum Holdings Inc. (LITE)

Lyon Street Capital LLC reduced its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 5.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 71,922 shares of the technology company’s stock after selling 3,848 shares during the quarter. Lumentum accounts for 1.5% of Lyon Street Capital LLC’s investment portfolio, making the stock its 29th biggest holding. Lyon Street Capital LLC owned about 0.12% of Lumentum worth $3,909,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Suntrust Banks Inc. boosted its stake in shares of Lumentum by 0.4% in the second quarter. Suntrust Banks Inc. now owns 9,468 shares of the technology company’s stock valued at $539,000 after buying an additional 37 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Lumentum by 0.7% in the second quarter. Arizona State Retirement System now owns 29,060 shares of the technology company’s stock valued at $1,658,000 after buying an additional 200 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Lumentum by 6.6% in the second quarter. Stifel Financial Corp now owns 7,271 shares of the technology company’s stock valued at $415,000 after buying an additional 447 shares in the last quarter. Texas Permanent School Fund boosted its stake in shares of Lumentum by 1.2% in the second quarter. Texas Permanent School Fund now owns 40,628 shares of the technology company’s stock valued at $2,318,000 after buying an additional 468 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its stake in shares of Lumentum by 5.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 13,150 shares of the technology company’s stock valued at $750,000 after buying an additional 650 shares in the last quarter. Institutional investors own 95.70% of the company’s stock.

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) opened at $47.15 on Wednesday. The company has a current ratio of 5.21, a quick ratio of 4.38 and a debt-to-equity ratio of 0.50. The company has a market capitalization 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 12-month low of $34.15 and a 12-month high of $68.63.

A number of analysts recently weighed in on LITE shares. UBS lifted their price target on Lumentum from $66.00 to $70.00 in a research note on Wednesday, August 9th. B. Riley restated a “buy” rating and issued a $81.00 price target on shares of Lumentum in a research note on Sunday, August 13th. Rosenblatt Securities set a $70.00 price target on Lumentum and gave the company a “buy” rating in a research note on Wednesday, August 9th. Craig Hallum restated a “buy” rating and issued a $75.00 price target on shares of Lumentum in a research note on Wednesday, August 9th. Finally, Jefferies Group restated a “buy” rating and issued a $72.00 price target (up from $63.00) on shares of Lumentum in a research note on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $68.06.

In other Lumentum news, CFO Aaron Tachibana sold 1,248 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $60.00, for a total transaction of $74,880.00. Following the sale, the chief financial officer now directly owns 69,830 shares in the company, valued at $4,189,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Martin A. Kaplan sold 3,000 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $55.03, for a total value of $165,090.00. Following the sale, the director now owns 26,573 shares in the company, valued at $1,462,312.19. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,891 shares of company stock worth $3,675,432. 0.76% of the stock is owned by company insiders.

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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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