Hantz Financial Services Inc. Has $652,000 Stock Holdings in Lumentum Holdings Inc. (NASDAQ:LITE)

Hantz Financial Services Inc. lowered its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 50.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,280 shares of the technology company's stock after selling 10,320 shares during the quarter. Hantz Financial Services Inc.'s holdings in Lumentum were worth $652,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of LITE. West Tower Group LLC acquired a new position in shares of Lumentum in the 3rd quarter valued at about $444,000. Quest Partners LLC boosted its stake in Lumentum by 776,400.0% during the 3rd quarter. Quest Partners LLC now owns 7,765 shares of the technology company's stock valued at $492,000 after purchasing an additional 7,764 shares during the period. International Assets Investment Management LLC boosted its stake in Lumentum by 6,238.0% during the 3rd quarter. International Assets Investment Management LLC now owns 21,169 shares of the technology company's stock valued at $1,342,000 after purchasing an additional 20,835 shares during the period. DigitalBridge Group Inc. boosted its stake in Lumentum by 10.9% during the 2nd quarter. DigitalBridge Group Inc. now owns 554,529 shares of the technology company's stock valued at $28,237,000 after purchasing an additional 54,703 shares during the period. Finally, JB Capital LLC boosted its stake in Lumentum by 85.0% during the 2nd quarter. JB Capital LLC now owns 31,069 shares of the technology company's stock valued at $1,582,000 after purchasing an additional 14,271 shares during the period. Institutional investors and hedge funds own 94.05% of the company's stock.

Wall Street Analyst Weigh In

LITE has been the topic of a number of research reports. Craig Hallum boosted their target price on shares of Lumentum from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, August 15th. Raymond James boosted 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. Susquehanna boosted their target price on shares of Lumentum from $80.00 to $115.00 and gave the stock a "positive" rating in a report on Friday, November 8th. Rosenblatt Securities boosted their target price on shares of Lumentum from $69.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Finally, Jefferies Financial Group boosted their target price on shares of Lumentum from $53.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, August 15th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $74.85.

Insider Buying and Selling at Lumentum

In related news, Director Julia Suzanne Johnson sold 2,058 shares of the company's stock in a transaction on Friday, November 22nd. The shares were 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 in the company, valued at $1,998,490.34. This represents a 8.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Vincent Retort sold 41,710 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $89.52, for a total transaction of $3,733,879.20. Following the transaction, the insider now owns 147,515 shares of the company's stock, valued at approximately $13,205,542.80. The trade was a 22.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,910 shares of company stock valued at $6,339,239 in the last 90 days. 0.19% of the stock is currently owned by insiders.

Lumentum Stock Down 0.7 %

LITE stock traded down $0.60 during trading hours on Monday, hitting $86.37. The company's stock had a trading volume of 1,004,176 shares, compared to its average volume of 1,489,329. The company has a quick ratio of 4.04, a current ratio of 5.36 and a debt-to-equity ratio of 2.87. The company has a market capitalization of $5.93 billion, a PE ratio of -10.50 and a beta of 0.88. Lumentum Holdings Inc. has a 12 month low of $38.28 and a 12 month high of $91.21. The stock has a 50 day moving average price of $72.09 and a two-hundred day moving average price of $58.45.

About Lumentum

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.