Emerald Advisers Inc. PA raised its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 0.7% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 298,517 shares of the company’s stock after buying an additional 2,040 shares during the period. Emerald Advisers Inc. PA’s holdings in Lumentum Holdings were worth $7,224,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. RS Investment Management Co. LLC boosted its position in Lumentum Holdings by 1,548.6% in the second quarter. RS Investment Management Co. LLC now owns 1,395,702 shares of the company’s stock worth $33,776,000 after buying an additional 1,311,042 shares in the last quarter. Falcon Point Capital LLC acquired a new position in Lumentum Holdings during the second quarter worth approximately $5,202,000. JPMorgan Chase & Co. boosted its position in Lumentum Holdings by 44.3% in the first quarter. JPMorgan Chase & Co. now owns 150,064 shares of the company’s stock worth $4,047,000 after buying an additional 46,065 shares in the last quarter. Prudential Financial Inc. boosted its position in Lumentum Holdings by 11.6% in the first quarter. Prudential Financial Inc. now owns 119,924 shares of the company’s stock worth $3,234,000 after buying an additional 12,486 shares in the last quarter. Finally, Summit Partners Public Asset Management LLC acquired a new position in Lumentum Holdings during the first quarter worth approximately $8,091,000. Hedge funds and other institutional investors own 74.97% of the company’s stock.
Lumentum Holdings Inc. (NASDAQ:LITE) traded down 0.54% during mid-day trading on Friday, hitting $44.24. The stock had a trading volume of 757,301 shares. The company has a 50 day moving average price of $38.12 and a 200-day moving average price of $29.12. The company’s market cap is $2.66 billion. Lumentum Holdings Inc. has a one year low of $13.97 and a one year high of $45.25.
Lumentum Holdings (NASDAQ:LITE) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.05. Lumentum Holdings had a net margin of 1.01% and a return on equity of 11.91%. The business earned $241.70 million during the quarter, compared to analysts’ expectations of $238.52 million. During the same period last year, the company posted $0.15 EPS. The company’s revenue was up 15.7% on a year-over-year basis. Equities analysts expect that Lumentum Holdings Inc. will post $1.88 earnings per share for the current fiscal year.
A number of research analysts recently commented on LITE shares. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $38.00 price objective on shares of Lumentum Holdings in a report on Wednesday, September 7th. MKM Partners upped their price objective on Lumentum Holdings from $37.00 to $50.00 and gave the company a “buy” rating in a report on Monday, September 26th. Jefferies Group upped their price objective on Lumentum Holdings from $39.00 to $51.50 and gave the company a “buy” rating in a report on Monday. Needham & Company LLC reiterated a “buy” rating and issued a $35.00 price objective on shares of Lumentum Holdings in a report on Wednesday, June 15th. Finally, Zacks Investment Research raised Lumentum Holdings from a “hold” rating to a “strong-buy” rating and set a $38.00 target price on the stock in a research report on Tuesday, August 16th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $39.29.
In related news, COO Vincent Retort sold 39,473 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $30.00, for a total transaction of $1,184,190.00. Following the sale, the chief operating officer now owns 40,060 shares in the company, valued at $1,201,800. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Alan S. Lowe sold 174,222 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $34.03, for a total transaction of $5,928,774.66. Following the sale, the chief executive officer now owns 38,880 shares in the company, valued at approximately $1,323,086.40. The disclosure for this sale can be found here. Insiders own 0.76% of the company’s stock.
Lumentum Holdings Company 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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