Charles Schwab Investment Management Inc. Has $46.78 Million Holdings in Lumentum Holdings Inc. (NASDAQ:LITE)

Charles Schwab Investment Management Inc. boosted its stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 5.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 738,155 shares of the technology company's stock after buying an additional 37,109 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.08% of Lumentum worth $46,784,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. John G Ullman & Associates Inc. lifted its stake in shares of Lumentum by 1.7% during the 3rd quarter. John G Ullman & Associates Inc. now owns 87,670 shares of the technology company's stock worth $5,557,000 after purchasing an additional 1,432 shares during the period. King Luther Capital Management Corp lifted its stake in shares of Lumentum by 6.2% during the 3rd quarter. King Luther Capital Management Corp now owns 82,331 shares of the technology company's stock worth $5,218,000 after purchasing an additional 4,809 shares during the period. Whalen Wealth Management Inc. lifted its stake in shares of Lumentum by 15.4% during the 3rd quarter. Whalen Wealth Management Inc. now owns 10,962 shares of the technology company's stock worth $695,000 after purchasing an additional 1,462 shares during the period. Quest Partners LLC lifted its stake in shares of Lumentum by 776,400.0% during the 3rd quarter. Quest Partners LLC now owns 7,765 shares of the technology company's stock worth $492,000 after purchasing an additional 7,764 shares during the period. Finally, Chesapeake Capital Corp IL purchased a new position in shares of Lumentum during the 3rd quarter worth $335,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Lumentum Stock Performance

Shares of NASDAQ:LITE traded down $0.60 during trading hours on Monday, hitting $86.37. The stock had a trading volume of 1,004,176 shares, compared to its average volume of 1,489,329. Lumentum Holdings Inc. has a 1-year low of $38.28 and a 1-year 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 $5.93 billion, a price-to-earnings ratio of -10.50 and a beta of 0.88. The stock's fifty day simple moving average is $72.09 and its 200 day simple moving average is $58.45.

Insider Activity at Lumentum

In related news, insider Vincent Retort sold 41,710 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $89.52, for a total value of $3,733,879.20. Following the completion of the transaction, the insider now owns 147,515 shares of the company's stock, valued at approximately $13,205,542.80. This trade represents a 22.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Julia Suzanne Johnson sold 2,058 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $85.82, for a total transaction of $176,617.56. Following the completion of the transaction, the director now directly owns 23,287 shares of the company's stock, valued at $1,998,490.34. This represents a 8.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,910 shares of company stock worth $6,339,239 over the last quarter. 0.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LITE shares. Susquehanna increased their price target on Lumentum from $80.00 to $115.00 and gave the company a "positive" rating in a report on Friday, November 8th. Morgan Stanley raised their target price on Lumentum from $61.00 to $76.00 and gave the company an "equal weight" rating in a research note on Thursday, November 14th. Jefferies Financial Group raised their target price on Lumentum from $53.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, August 15th. B. Riley increased their price target on shares of Lumentum from $40.00 to $50.00 and gave the stock a "neutral" rating in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. increased their price target on shares of Lumentum from $57.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $74.85.

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.