Green Alpha Advisors LLC lessened its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE – Free Report) by 18.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,147 shares of the technology company’s stock after selling 1,392 shares during the period. Green Alpha Advisors LLC’s holdings in Lumentum were worth $516,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP raised its stake in Lumentum by 85.5% during the third quarter. Quarry LP now owns 436 shares of the technology company’s stock worth $28,000 after purchasing an additional 201 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Lumentum during the 3rd quarter worth approximately $33,000. Point72 DIFC Ltd purchased a new stake in shares of Lumentum during the 2nd quarter valued at approximately $36,000. Nomura Asset Management Co. Ltd. lifted its holdings in Lumentum by 67.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company’s stock valued at $42,000 after acquiring an additional 270 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Lumentum by 141.6% during the third quarter. GAMMA Investing LLC now owns 894 shares of the technology company’s stock worth $57,000 after acquiring an additional 524 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.
Insider Activity at Lumentum
In other news, Director Harold L. Covert sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $87.17, for a total value of $1,307,550.00. Following the transaction, the director now owns 8,761 shares of the company’s stock, valued at approximately $763,696.37. The trade was a 63.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Matthew Joseph Sepe sold 8,172 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $87.60, for a total value of $715,867.20. Following the sale, the chief accounting officer now directly owns 21,138 shares of the company’s stock, valued at approximately $1,851,688.80. This represents a 27.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,797 shares of company stock worth $8,881,428 in the last quarter. Company insiders own 0.19% of the company’s stock.
Lumentum Price Performance
Analyst Ratings Changes
LITE has been the topic of a number of research analyst reports. Northland Securities boosted their price target on shares of Lumentum from $45.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, November 8th. Susquehanna raised their target price on Lumentum from $80.00 to $115.00 and gave the company a “positive” rating in a report on Friday, November 8th. Morgan Stanley boosted their price target on shares of Lumentum from $76.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Raymond James increased their price target on shares of Lumentum from $70.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Barclays lifted their price objective on shares of Lumentum from $40.00 to $80.00 and gave the company an “underweight” rating in a report on Monday, November 11th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $78.46.
View Our Latest Report on Lumentum
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 (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.
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