Greenleaf Trust increased its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 0.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,001 shares of the company’s stock after buying an additional 1 shares during the period. Greenleaf Trust’s holdings in Lumentum Holdings were worth $242,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legal & General Group Plc increased its position in Lumentum Holdings by 133.1% in the first quarter. Legal & General Group Plc now owns 4,109 shares of the company’s stock valued at $111,000 after buying an additional 2,346 shares during the last quarter. LaSalle Street Capital Management LLC increased its position in Lumentum Holdings by 3.2% in the second quarter. LaSalle Street Capital Management LLC now owns 9,441 shares of the company’s stock valued at $228,000 after buying an additional 292 shares during the last quarter. AMP Capital Investors Ltd acquired a new position in Lumentum Holdings during the first quarter valued at $277,000. Miles Capital Inc. acquired a new position in Lumentum Holdings during the first quarter valued at $278,000. Finally, American Century Companies Inc. acquired a new position in Lumentum Holdings during the second quarter valued at $354,000. Institutional investors own 74.97% of the company’s stock.
Lumentum Holdings Inc. (NASDAQ:LITE) traded up 2.33% during mid-day trading on Thursday, reaching $44.38. The company had a trading volume of 684,027 shares. The stock has a 50 day moving average of $37.76 and a 200 day moving average of $29.01. Lumentum Holdings Inc. has a 52 week low of $13.97 and a 52 week high of $44.69. The stock’s market capitalization is $2.67 billion.
Lumentum Holdings (NASDAQ:LITE) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.05. The firm had revenue of $241.70 million for the quarter, compared to analyst estimates of $238.52 million. Lumentum Holdings had a return on equity of 11.91% and a net margin of 1.01%. The business’s revenue was up 15.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 earnings per share. Analysts anticipate that Lumentum Holdings Inc. will post $1.87 earnings per share for the current year.
Several research analysts have weighed in on the company. B. Riley restated a “buy” rating and issued a $50.00 price target on shares of Lumentum Holdings in a research note on Wednesday. Jefferies Group upped their price target on Lumentum Holdings from $39.00 to $51.50 and gave the stock a “buy” rating in a research note on Monday. MKM Partners upped their price target on Lumentum Holdings from $37.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, September 26th. Needham & Company LLC upped their price target on Lumentum Holdings from $40.00 to $50.00 and gave the stock a “strong-buy” rating in a research note on Monday, September 19th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $38.00 price objective on shares of Lumentum Holdings in a report on Wednesday, September 7th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $38.54.
In related news, CFO Aaron Tachibana sold 6,086 shares of Lumentum Holdings stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $34.64, for a total transaction of $210,819.04. Following the transaction, the chief financial officer now owns 13,239 shares in the company, valued at $458,598.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Vincent Retort sold 8,114 shares of Lumentum Holdings stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $32.59, for a total value of $264,435.26. Following the transaction, the chief operating officer now owns 587 shares in the company, valued at approximately $19,130.33. The disclosure for this sale can be found here. 0.76% of the stock is owned by insiders.
About Lumentum Holdings
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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