GSA Capital Partners LLP acquired a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) in the second quarter, according to its most recent filing with the SEC. The fund acquired 10,621 shares of the technology company’s stock, valued at approximately $606,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LITE. Kennedy Capital Management Inc. grew its position in Lumentum Holdings by 24.2% in the second quarter. Kennedy Capital Management Inc. now owns 383,304 shares of the technology company’s stock worth $21,867,000 after acquiring an additional 74,769 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Lumentum Holdings by 14.5% in the second quarter. Alliancebernstein L.P. now owns 2,102,853 shares of the technology company’s stock worth $119,968,000 after purchasing an additional 265,723 shares during the last quarter. Lebenthal Lisanti Capital Growth LLC raised its stake in shares of Lumentum Holdings by 195.4% during the second quarter. Lebenthal Lisanti Capital Growth LLC now owns 36,345 shares of the technology company’s stock valued at $2,073,000 after acquiring an additional 24,040 shares during the last quarter. Chicago Equity Partners LLC raised its stake in shares of Lumentum Holdings by 20.1% during the second quarter. Chicago Equity Partners LLC now owns 14,655 shares of the technology company’s stock valued at $836,000 after acquiring an additional 2,455 shares during the last quarter. Finally, SpiderRock Advisors LLC raised its stake in shares of Lumentum Holdings by 325.2% during the second quarter. SpiderRock Advisors LLC now owns 5,428 shares of the technology company’s stock valued at $311,000 after acquiring an additional 7,838 shares during the last quarter. Hedge funds and other institutional investors own 95.74% of the company’s stock.
Shares of Lumentum Holdings Inc. (NASDAQ LITE) opened at 56.10 on Wednesday. The firm’s market cap is $3.45 billion. The stock’s 50 day moving average is $56.50 and its 200 day moving average is $56.50. Lumentum Holdings Inc. has a 12 month low of $32.90 and a 12 month high of $68.63.
Lumentum Holdings (NASDAQ:LITE) last announced its earnings results on Wednesday, August 9th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.18. The company had revenue of $222.70 million for the quarter, compared to analyst estimates of $229.45 million. Lumentum Holdings had a positive return on equity of 18.12% and a negative net margin of 10.25%. Lumentum Holdings’s quarterly revenue was down 7.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 EPS. On average, analysts anticipate that Lumentum Holdings Inc. will post $3.07 earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on LITE shares. Needham & Company LLC restated a “buy” rating and issued a $80.00 price objective on shares of Lumentum Holdings in a report on Thursday, October 12th. Zacks Investment Research upgraded shares of Lumentum Holdings from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a report on Wednesday, October 11th. Piper Jaffray Companies reiterated a “buy” rating and set a $68.00 price target on shares of Lumentum Holdings in a report on Monday, October 9th. Jefferies Group LLC restated a “buy” rating and set a $75.00 price objective on shares of Lumentum Holdings in a research report on Friday, October 6th. Finally, Rosenblatt Securities restated a “buy” rating and set a $75.00 price objective (up previously from $70.00) on shares of Lumentum Holdings in a research report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $66.31.
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In other Lumentum Holdings news, COO Vincent Retort sold 14,875 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $51.59, for a total value of $767,401.25. Following the sale, the chief operating officer now directly owns 92,694 shares of the company’s stock, valued at $4,782,083.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Alan S. Lowe sold 7,916 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $52.62, for a total value of $416,539.92. Following the completion of the transaction, the chief executive officer now directly owns 141,162 shares of the company’s stock, valued at approximately $7,427,944.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,269 shares of company stock worth $4,602,526. Corporate 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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