Two Sigma Advisers LP Has $11.83 Million Position in Lumentum Holdings Inc. (NASDAQ:LITE)

Two Sigma Advisers LP grew its holdings in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 24.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 186,600 shares of the technology company's stock after acquiring an additional 37,000 shares during the period. Two Sigma Advisers LP owned 0.27% of Lumentum worth $11,827,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of LITE. Quarry LP increased its position in Lumentum by 85.5% during the third quarter. Quarry LP now owns 436 shares of the technology company's stock worth $28,000 after buying an additional 201 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Lumentum during the 3rd quarter valued at about $33,000. Point72 DIFC Ltd acquired a new position in shares of Lumentum during the 2nd quarter valued at about $36,000. GAMMA Investing LLC raised its stake in shares of Lumentum by 141.6% in the 3rd quarter. GAMMA Investing LLC now owns 894 shares of the technology company's stock valued at $57,000 after acquiring an additional 524 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Lumentum by 93.9% in the 2nd quarter. Signaturefd LLC now owns 1,144 shares of the technology company's stock valued at $58,000 after acquiring an additional 554 shares in the last quarter. Institutional investors own 94.05% of the company's stock.

Lumentum Stock Performance

Shares of NASDAQ:LITE traded down $2.83 during trading on Tuesday, hitting $86.97. 1,571,597 shares of the stock were exchanged, compared to its average volume of 1,495,747. Lumentum Holdings Inc. has a 1-year low of $38.28 and a 1-year high of $95.92. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of -10.85 and a beta of 0.94. The company's fifty day simple moving average is $75.48 and its 200-day simple moving average is $60.33. The company has a debt-to-equity ratio of 2.87, a quick ratio of 4.04 and a current ratio of 5.36.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LITE shares. Susquehanna raised their price objective on Lumentum from $80.00 to $115.00 and gave the company a "positive" rating in a research note on Friday, November 8th. Needham & Company LLC raised their price objective on Lumentum from $65.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, August 15th. Jefferies Financial Group raised their price objective on Lumentum from $53.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, August 15th. Morgan Stanley raised their price objective on Lumentum from $61.00 to $76.00 and gave the company an "equal weight" rating in a research note on Thursday, November 14th. Finally, Raymond James raised their price objective on Lumentum from $70.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Lumentum currently has an average rating of "Hold" and an average target price of $74.85.

Insider Transactions at Lumentum

In related news, Director Julia Suzanne Johnson sold 2,058 shares of the business's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $85.82, for a total value of $176,617.56. Following the sale, the director now owns 23,287 shares of the company's stock, valued at $1,998,490.34. The trade was a 8.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Penny Herscher sold 1,625 shares of the business's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $81.09, for a total value of $131,771.25. Following the completion of the sale, 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. In the last quarter, insiders have sold 101,797 shares of company stock valued at $8,881,428. 0.19% of the stock is owned by corporate insiders.

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.