Strs Ohio Has $1.26 Million Stock Position in Lumentum Holdings Inc (NASDAQ:LITE)

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Strs Ohio raised its holdings in Lumentum Holdings Inc (NASDAQ:LITE) by 8.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,503 shares of the technology company’s stock after buying an additional 1,203 shares during the quarter. Strs Ohio’s holdings in Lumentum were worth $1,262,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Sunbelt Securities Inc. acquired a new position in shares of Lumentum during the fourth quarter valued at about $5,055,000. Kistler Tiffany Companies LLC purchased a new position in Lumentum during the second quarter valued at approximately $25,000. Huntington National Bank grew its stake in Lumentum by 125.8% during the first quarter. Huntington National Bank now owns 420 shares of the technology company’s stock valued at $31,000 after acquiring an additional 234 shares in the last quarter. NEXT Financial Group Inc grew its stake in Lumentum by 14,566.7% in the 1st quarter. NEXT Financial Group Inc now owns 440 shares of the technology company’s stock worth $32,000 after buying an additional 437 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in Lumentum by 42.9% during the first quarter. Global Retirement Partners LLC now owns 473 shares of the technology company’s stock valued at $35,000 after buying an additional 142 shares during the period. 93.58% of the stock is currently owned by hedge funds and other institutional investors.

Shares of LITE stock opened at $92.83 on Friday. The company has a current ratio of 6.85, a quick ratio of 6.24 and a debt-to-equity ratio of 0.67. The firm has a fifty day moving average price of $80.54 and a 200 day moving average price of $78.06. The company has a market cap of $6.95 billion, a P/E ratio of 63.58 and a beta of 1.00. Lumentum Holdings Inc has a 12 month low of $48.44 and a 12 month high of $93.23.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.21. Lumentum had a net margin of 6.66% and a return on equity of 20.47%. The company had revenue of $402.80 million during the quarter, compared to the consensus estimate of $408.54 million. During the same quarter in the prior year, the firm posted $0.91 earnings per share. Lumentum’s revenue for the quarter was down 7.0% on a year-over-year basis. On average, equities analysts forecast that Lumentum Holdings Inc will post 4.14 EPS for the current year.

LITE has been the topic of a number of research analyst reports. BidaskClub upgraded Lumentum from a “hold” rating to a “buy” rating in a report on Thursday. Loop Capital began coverage on Lumentum in a research report on Thursday, July 23rd. They issued a “buy” rating and a $110.00 price objective on the stock. Raymond James upped their price objective on Lumentum from $90.00 to $97.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Zacks Investment Research upgraded shares of Lumentum from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Needham & Company LLC assumed coverage on Lumentum in a research report on Tuesday, May 26th. They set a “buy” rating and a $105.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $93.15.

In related news, CEO Alan S. Lowe sold 15,573 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $83.32, for a total value of $1,297,542.36. Following the sale, the chief executive officer now owns 138,802 shares of the company’s stock, valued at approximately $11,564,982.64. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Matthew Joseph Sepe sold 2,896 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $81.25, for a total value of $235,300.00. Following the sale, the chief accounting officer now owns 22,275 shares in the company, valued at approximately $1,809,843.75. The disclosure for this sale can be found here. In the last three months, insiders sold 26,900 shares of company stock valued at $2,158,373. 0.48% of the stock is owned by corporate insiders.

About Lumentum

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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