Geode Capital Management LLC Buys 15,799 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Geode Capital Management LLC raised its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,186,163 shares of the technology company's stock after acquiring an additional 15,799 shares during the period. Geode Capital Management LLC owned approximately 1.73% of Lumentum worth $75,198,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in LITE. Signaturefd LLC raised its stake in shares of Lumentum by 13.8% in the 3rd quarter. Signaturefd LLC now owns 1,302 shares of the technology company's stock worth $83,000 after buying an additional 158 shares in the last quarter. Quarry LP boosted its position in shares of Lumentum by 85.5% during the 3rd quarter. Quarry LP now owns 436 shares of the technology company's stock valued at $28,000 after purchasing an additional 201 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Lumentum by 67.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company's stock worth $42,000 after purchasing an additional 270 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Lumentum by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 18,868 shares of the technology company's stock worth $961,000 after purchasing an additional 455 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in Lumentum during the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Lumentum Stock Up 1.8 %

NASDAQ:LITE traded up $1.52 during mid-day trading on Friday, reaching $85.08. The stock had a trading volume of 2,115,245 shares, compared to its average volume of 1,506,097. The stock has a market cap of $5.84 billion, a P/E ratio of -10.28 and a beta of 0.95. The business's 50 day moving average is $79.00 and its 200 day moving average is $62.55. The company has a debt-to-equity ratio of 2.87, a current ratio of 5.36 and a quick ratio of 4.04. Lumentum Holdings Inc. has a fifty-two week low of $38.28 and a fifty-two week high of $96.25.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on LITE shares. Northland Securities upped their price target on Lumentum from $45.00 to $60.00 and gave the company a "market perform" rating in a report on Friday, November 8th. Rosenblatt Securities increased their price target on Lumentum from $69.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Morgan Stanley boosted their price objective on Lumentum from $76.00 to $83.00 and gave the stock an "equal weight" rating in a report on Tuesday. 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. Finally, Barclays boosted their price target 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 given a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $75.38.

Insiders Place Their Bets

In related news, CFO Wajid Ali sold 29,887 shares of the business's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $85.06, for a total value of $2,542,188.22. Following the completion of the sale, the chief financial officer now directly owns 56,492 shares in the company, valued at approximately $4,805,209.52. The trade was a 34.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Penny Herscher sold 1,625 shares of Lumentum stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $81.09, for a total transaction of $131,771.25. Following the completion of the transaction, the director now directly owns 6,852 shares in the company, valued at approximately $555,628.68. This represents a 19.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,797 shares of company stock valued at $8,881,428 over the last ninety days. Corporate insiders own 0.19% of the company's stock.

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.