JustInvest LLC Increases Position in Lumentum Holdings Inc. (NASDAQ:LITE)

JustInvest LLC grew its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 36.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,060 shares of the technology company’s stock after acquiring an additional 1,085 shares during the quarter. JustInvest LLC’s holdings in Lumentum were worth $339,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Lumentum by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 7,145,343 shares of the technology company’s stock worth $586,132,000 after buying an additional 31,526 shares during the last quarter. Geode Capital Management LLC lifted its position in Lumentum by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,024,722 shares of the technology company’s stock worth $84,057,000 after acquiring an additional 25,747 shares during the period. ValueAct Holdings L.P. acquired a new stake in Lumentum during the 2nd quarter worth about $79,327,000. Fisher Asset Management LLC lifted its position in Lumentum by 1.4% during the 3rd quarter. Fisher Asset Management LLC now owns 858,688 shares of the technology company’s stock worth $71,735,000 after acquiring an additional 11,457 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Lumentum by 5.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 620,180 shares of the technology company’s stock worth $50,876,000 after acquiring an additional 32,814 shares during the period. Institutional investors and hedge funds own 89.58% of the company’s stock.

LITE has been the subject of a number of research reports. Raymond James cut Lumentum from a “strong-buy” rating to an “outperform” rating and set a $96.00 price target for the company. in a research report on Tuesday, October 12th. Susquehanna boosted their price objective on Lumentum from $100.00 to $120.00 and gave the company a “positive” rating in a report on Wednesday, December 15th. JPMorgan Chase & Co. boosted their price objective on Lumentum from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Monday, December 13th. Morgan Stanley boosted their price objective on Lumentum from $81.00 to $91.00 and gave the company an “equal weight” rating in a report on Friday, November 5th. Finally, Craig Hallum boosted their price objective on Lumentum from $110.00 to $130.00 in a report on Tuesday, January 4th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Lumentum has a consensus rating of “Buy” and an average target price of $103.24.

Shares of Lumentum stock opened at $106.36 on Friday. The firm has a market capitalization of $7.69 billion, a price-to-earnings ratio of 20.18 and a beta of 0.85. Lumentum Holdings Inc. has a fifty-two week low of $65.67 and a fifty-two week high of $108.90. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.62 and a current ratio of 3.96. The stock has a 50 day moving average of $97.68 and a 200 day moving average of $88.83.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Thursday, November 4th. The technology company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.24. Lumentum had a return on equity of 19.82% and a net margin of 23.68%. The company had revenue of $448.40 million for the quarter, compared to analysts’ expectations of $439.95 million. During the same period in the prior year, the firm earned $1.53 earnings per share. The firm’s revenue was down .9% compared to the same quarter last year. Analysts forecast that Lumentum Holdings Inc. will post 4.83 EPS for the current year.

In other news, CEO Alan S. Lowe sold 26,514 shares of the stock in a transaction on Monday, November 8th. The stock was sold at an average price of $92.11, for a total value of $2,442,204.54. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Judy G. Hamel sold 5,011 shares of the stock in a transaction on Thursday, December 9th. The shares were sold at an average price of $95.00, for a total value of $476,045.00. The disclosure for this sale can be found here. Insiders have sold 50,421 shares of company stock worth $4,643,499 over the last 90 days. 0.32% of the stock is owned by insiders.

About Lumentum

Lumentum Holdings, Inc engages in the provision of optical and photonic products. It operates through the Optical Communications (OpComms) and Commercial Lasers segments. The OpComms segment includes a range of components, modules, and subsystems to support customers including carrier networks of access (local), metro (intracity), long-haul (city-to-city and worldwide), and submarine (undersea) applications.

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Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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