Lumentum Holdings Inc (NASDAQ:LITE) Shares Sold by Envestnet Asset Management Inc.

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Envestnet Asset Management Inc. lessened its holdings in shares of Lumentum Holdings Inc (NASDAQ:LITE) by 7.5% in the third quarter, Holdings Channel reports. The firm owned 8,078 shares of the technology company’s stock after selling 651 shares during the period. Envestnet Asset Management Inc.’s holdings in Lumentum were worth $433,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Supplemental Annuity Collective Trust of NJ raised its holdings in shares of Lumentum by 7.1% in the 2nd quarter. Supplemental Annuity Collective Trust of NJ now owns 15,000 shares of the technology company’s stock valued at $801,000 after purchasing an additional 1,000 shares in the last quarter. Copper Rock Capital Partners LLC raised its stake in shares of Lumentum by 9.1% during the 2nd quarter. Copper Rock Capital Partners LLC now owns 372,386 shares of the technology company’s stock worth $19,889,000 after acquiring an additional 30,935 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Lumentum by 5.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 30,784 shares of the technology company’s stock worth $1,644,000 after acquiring an additional 1,478 shares in the last quarter. Oakbrook Investments LLC bought a new position in shares of Lumentum during the 2nd quarter worth approximately $288,000. Finally, Commonwealth Equity Services LLC raised its stake in shares of Lumentum by 13.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 13,730 shares of the technology company’s stock worth $733,000 after acquiring an additional 1,583 shares in the last quarter. 94.72% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently commented on the stock. Craig Hallum boosted their price objective on shares of Lumentum from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. They noted that the move was a valuation call. Rosenblatt Securities reiterated a “buy” rating and set a $80.00 price objective on shares of Lumentum in a research note on Tuesday, September 24th. UBS Group set a $71.00 price objective on shares of Lumentum and gave the stock a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. set a $74.00 price objective on shares of Lumentum and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, MKM Partners set a $75.00 price objective on shares of Lumentum and gave the stock a “buy” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Lumentum currently has an average rating of “Buy” and a consensus price target of $71.07.

Shares of Lumentum stock opened at $67.81 on Thursday. The company has a current ratio of 4.49, a quick ratio of 3.85 and a debt-to-equity ratio of 0.58. Lumentum Holdings Inc has a 12-month low of $37.29 and a 12-month high of $67.97. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 1.69 and a beta of 1.37. The firm’s 50 day simple moving average is $56.97 and its two-hundred day simple moving average is $54.71.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $1.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.24. Lumentum had a negative net margin of 2.18% and a positive return on equity of 17.81%. The business had revenue of $449.90 million for the quarter, compared to analyst estimates of $448.16 million. During the same quarter in the prior year, the business posted $1.31 EPS. Lumentum’s revenue for the quarter was up 27.1% compared to the same quarter last year. On average, sell-side analysts predict that Lumentum Holdings Inc will post 3.95 EPS for the current fiscal year.

In other news, COO Vincent Retort sold 993 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $58.26, for a total value of $57,852.18. Following the sale, the chief operating officer now directly owns 90,018 shares of the company’s stock, valued at approximately $5,244,448.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian Lillie sold 3,983 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $64.50, for a total transaction of $256,903.50. Following the completion of the sale, the director now directly owns 26,006 shares in the company, valued at $1,677,387. The disclosure for this sale can be found here. Insiders have sold a total of 193,094 shares of company stock worth $11,238,955 in the last 90 days. 0.48% of the stock is currently owned by company insiders.

Lumentum Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments, Optical Communications and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.

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Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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