Intech Investment Management LLC Has $330,000 Holdings in Lumentum Holdings Inc. (NASDAQ:LITE)

Intech Investment Management LLC lessened its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 54.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,208 shares of the technology company's stock after selling 6,113 shares during the quarter. Intech Investment Management LLC's holdings in Lumentum were worth $330,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LITE. Quest Partners LLC increased its holdings in shares of Lumentum by 776,400.0% in the 3rd quarter. Quest Partners LLC now owns 7,765 shares of the technology company's stock valued at $492,000 after acquiring an additional 7,764 shares during the period. International Assets Investment Management LLC grew its stake in shares of 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 worth $1,342,000 after purchasing an additional 20,835 shares during the period. DigitalBridge Group Inc. boosted its position in shares of Lumentum by 10.9% in the 2nd quarter. DigitalBridge Group Inc. now owns 554,529 shares of the technology company's stock worth $28,237,000 after buying an additional 54,703 shares in the last quarter. JB Capital LLC increased its holdings 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 acquiring an additional 14,271 shares in the last quarter. Finally, Versor Investments LP purchased a new position in Lumentum during the 2nd quarter valued at about $631,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Lumentum Stock Performance

Shares of LITE traded up $6.20 during midday trading on Wednesday, hitting $94.90. 3,231,512 shares of the stock traded hands, compared to its average volume of 1,496,487. Lumentum Holdings Inc. has a 1-year low of $38.28 and a 1-year high of $95.92. The firm has a market capitalization of $6.52 billion, a PE ratio of -11.34 and a beta of 0.95. 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 business's 50 day moving average price is $73.15 and its two-hundred day moving average price is $59.03.

Insider Buying and Selling

In related news, insider Vincent Retort sold 41,710 shares of the company's stock in a transaction dated 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 sale, the insider now owns 147,515 shares of the company's stock, valued at $13,205,542.80. This represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Matthew Joseph Sepe sold 8,172 shares of the company's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $87.60, for a total transaction of $715,867.20. Following the completion of the sale, the chief accounting officer now directly owns 21,138 shares of the company's stock, valued at $1,851,688.80. The trade was a 27.88 % 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 90 days. 0.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LITE shares. Raymond James raised their price target on shares of Lumentum from $70.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Barclays raised their target price on shares of Lumentum from $40.00 to $80.00 and gave the stock an "underweight" rating in a research report on Monday, November 11th. B. Riley raised their target price 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. Craig Hallum raised their target price on shares of Lumentum from $65.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised their target price 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 equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $74.85.

Lumentum Company 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.