Community Trust & Investment Co. lowered its position in Lumentum Holdings Inc. (NASDAQ:LITE – Get Rating) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,345 shares of the technology company's stock after selling 4,164 shares during the period. Community Trust & Investment Co. owned about 0.22% of Lumentum worth $11,940,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the company. Alliancebernstein L.P. increased its position in shares of Lumentum by 8.1% in the 4th quarter. Alliancebernstein L.P. now owns 5,215,446 shares of the technology company's stock valued at $551,638,000 after buying an additional 391,641 shares in the last quarter. Schroder Investment Management Group increased its holdings in Lumentum by 23.9% during the 4th quarter. Schroder Investment Management Group now owns 1,005,798 shares of the technology company's stock worth $106,383,000 after purchasing an additional 193,774 shares in the last quarter. Alyeska Investment Group L.P. increased its holdings in Lumentum by 465.6% during the 1st quarter. Alyeska Investment Group L.P. now owns 930,738 shares of the technology company's stock worth $90,840,000 after purchasing an additional 766,170 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Lumentum by 26.3% in the 4th quarter. Point72 Asset Management L.P. now owns 816,600 shares of the technology company's stock valued at $86,372,000 after acquiring an additional 170,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Lumentum by 7.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 805,662 shares of the technology company's stock valued at $78,633,000 after acquiring an additional 53,978 shares in the last quarter. Institutional investors own 95.49% of the company's stock.
Get Lumentum alerts:Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on LITE. Raymond James raised their price objective on Lumentum from $102.00 to $114.00 and gave the company an "outperform" rating in a report on Wednesday, August 17th. TheStreet upgraded shares of Lumentum from a "c+" rating to a "b-" rating in a research report on Monday, August 15th. Craig Hallum lifted their price objective on shares of Lumentum to $125.00 in a research note on Monday, August 15th. Bank of America started coverage on shares of Lumentum in a research note on Tuesday, September 6th. They issued a "buy" rating and a $105.00 price objective on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Lumentum from $115.00 to $100.00 and set an "overweight" rating on the stock in a research note on Thursday, July 14th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $111.75.
Insider Activity
In related news, CAO Matthew Joseph Sepe sold 3,030 shares of the company's stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $86.20, for a total transaction of $261,186.00. Following the transaction, the chief accounting officer now directly owns 25,288 shares of the company's stock, valued at approximately $2,179,825.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Wajid Ali sold 8,781 shares of the company's stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $92.47, for a total transaction of $811,979.07. Following the transaction, the chief financial officer now directly owns 31,194 shares of the company's stock, valued at approximately $2,884,509.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Matthew Joseph Sepe sold 3,030 shares of the company's stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $86.20, for a total value of $261,186.00. Following the transaction, the chief accounting officer now directly owns 25,288 shares in the company, valued at $2,179,825.60. The disclosure for this sale can be found here. Insiders have sold 20,620 shares of company stock valued at $1,909,492 in the last ninety days. 0.30% of the stock is owned by company insiders.Lumentum Trading Down 0.8 %
NASDAQ LITE opened at $73.66 on Tuesday. The firm has a market capitalization of $5.02 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 1.13 and a beta of 0.94. The company has a current ratio of 4.38, a quick ratio of 4.03 and a debt-to-equity ratio of 0.78. The business's 50-day moving average price is $85.60 and its two-hundred day moving average price is $86.28. Lumentum Holdings Inc. has a 12 month low of $73.57 and a 12 month high of $108.90.
Lumentum (NASDAQ:LITE – Get Rating) last announced its quarterly earnings data on Tuesday, August 16th. The technology company reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.08. The company had revenue of $422.10 million for the quarter, compared to the consensus estimate of $417.99 million. Lumentum had a return on equity of 18.66% and a net margin of 11.61%. The firm's revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 EPS. On average, analysts expect that Lumentum Holdings Inc. will post 4.93 EPS for the current year.
About Lumentum
(Get Rating)
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 in 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.
Read More
- Get a free copy of the StockNews.com research report on Lumentum (LITE)
- Has AMD stock stock fallen too far?
- Oracle's Short-Term Pain Could Be Your Long-Term Gain
- Lucid is Looking Like a Clear EV Winner
- Still Lovin' It: Investors Keep Visiting McDonald's
- Did FedEx Just Deliver A Buying Opportunity?
Receive News & Ratings for Lumentum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumentum and related companies with MarketBeat.com's FREE daily email newsletter.