Lumentum Holdings Inc. (NASDAQ:LITE) Shares Sold by BNP Paribas

BNP Paribas lowered its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 19.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,041 shares of the technology company’s stock after selling 979 shares during the quarter. BNP Paribas’ holdings in Lumentum were worth $256,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in LITE. Signaturefd LLC boosted its holdings in shares of Lumentum by 13.8% in the third quarter. Signaturefd LLC now owns 1,302 shares of the technology company’s stock valued at $83,000 after acquiring an additional 158 shares in the last quarter. Mcdonald Partners LLC boosted its holdings in shares of Lumentum by 1.6% in the second quarter. Mcdonald Partners LLC now owns 19,830 shares of the technology company’s stock valued at $1,010,000 after acquiring an additional 318 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Lumentum by 2.5% in the second quarter. Arizona State Retirement System now owns 18,868 shares of the technology company’s stock valued at $961,000 after acquiring an additional 455 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Lumentum in the third quarter valued at approximately $33,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Lumentum by 141.6% in the third quarter. GAMMA Investing LLC now owns 894 shares of the technology company’s stock valued at $57,000 after acquiring an additional 524 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Buying and Selling

In other Lumentum news, CAO Matthew Joseph Sepe sold 8,172 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $87.60, for a total value of $715,867.20. Following the completion of the sale, the chief accounting officer now owns 21,138 shares in the company, valued at $1,851,688.80. This represents a 27.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vincent Retort sold 41,710 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $89.52, for a total transaction of $3,733,879.20. Following the completion of the sale, the insider now owns 147,515 shares of the company’s stock, valued at approximately $13,205,542.80. The trade was a 22.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,910 shares of company stock valued at $6,339,239. Company insiders own 0.19% of the company’s stock.

Lumentum Trading Down 3.7 %

Lumentum stock opened at $83.77 on Thursday. The company has a 50 day moving average price of $70.61 and a 200 day moving average price of $57.60. Lumentum Holdings Inc. has a 52 week low of $38.28 and a 52 week high of $91.21. The company has a debt-to-equity ratio of 2.87, a quick ratio of 4.04 and a current ratio of 5.36. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of -10.12 and a beta of 0.88.

Analyst Ratings Changes

Several research firms have recently issued reports on LITE. JPMorgan Chase & Co. increased their price objective on shares of Lumentum from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Morgan Stanley increased their price objective on shares of Lumentum from $61.00 to $76.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Craig Hallum raised their target price on shares of Lumentum from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Barclays raised their target price on shares of Lumentum from $40.00 to $80.00 and gave the stock an “underweight” rating in a report on Monday, November 11th. Finally, Raymond James raised their target price on shares of Lumentum from $70.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Lumentum currently has an average rating of “Hold” and an average price target of $74.85.

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 (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.