Cito Capital Group LLC Boosts Holdings in Lumentum Holdings Inc (LITE)

Cito Capital Group LLC boosted its position in shares of Lumentum Holdings Inc (NASDAQ:LITE) by 16.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,000 shares of the technology company’s stock after buying an additional 2,000 shares during the quarter. Cito Capital Group LLC’s holdings in Lumentum were worth $839,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale lifted its holdings in Lumentum by 149.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,497 shares of the technology company’s stock worth $102,000 after buying an additional 897 shares in the last quarter. CIBC World Markets Inc. acquired a new position in shares of Lumentum in the 3rd quarter valued at $237,000. Private Advisor Group LLC acquired a new position in shares of Lumentum in the 2nd quarter valued at $263,000. D.A. Davidson & CO. acquired a new position in shares of Lumentum in the 2nd quarter valued at $268,000. Finally, Lido Advisors LLC lifted its stake in shares of Lumentum by 27.3% in the 2nd quarter. Lido Advisors LLC now owns 4,811 shares of the technology company’s stock valued at $278,000 after purchasing an additional 1,033 shares during the period.

LITE opened at $44.47 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 5.52 and a quick ratio of 4.88. Lumentum Holdings Inc has a 12 month low of $37.00 and a 12 month high of $74.40. The firm has a market capitalization of $2.82 billion, a P/E ratio of 11.06, a PEG ratio of 0.69 and a beta of 0.41.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Thursday, November 1st. The technology company reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.29. Lumentum had a net margin of 21.21% and a return on equity of 28.74%. The business had revenue of $354.00 million during the quarter, compared to analysts’ expectations of $351.21 million. During the same quarter in the prior year, the company earned $0.43 EPS. The firm’s quarterly revenue was up 45.7% on a year-over-year basis. As a group, sell-side analysts forecast that Lumentum Holdings Inc will post 3.56 earnings per share for the current fiscal year.

In related news, Director Penny Herscher sold 1,197 shares of the company’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $52.93, for a total value of $63,357.21. Following the completion of the sale, the director now owns 34,743 shares in the company, valued at approximately $1,838,946.99. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.55% of the stock is owned by corporate insiders.

A number of research firms have recently weighed in on LITE. Zacks Investment Research downgraded Lumentum from a “buy” rating to a “hold” rating in a research note on Friday, November 16th. TheStreet downgraded Lumentum from a “b” rating to a “c+” rating in a research note on Thursday. BidaskClub raised Lumentum from a “hold” rating to a “buy” rating in a research note on Friday, November 23rd. Northland Securities reissued an “outperform” rating and issued a $60.00 price target on shares of Lumentum in a research note on Tuesday, November 13th. Finally, Barclays reissued a “buy” rating and issued a $48.00 price target on shares of Lumentum in a research note on Tuesday, November 13th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. Lumentum presently has an average rating of “Buy” and an average price target of $69.79.

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About Lumentum

Lumentum Holdings, Inc engages in the manufacture of optical and photonic products enabling optical networking and commercial laser. It operates through the Optical Communications (OpComms) and Commercial Lasers business segments. The OpComms segment includes modules and subsystems to support and maintain customers in the Telecom and Datacom markets.

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Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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