Lumentum Holdings Inc. (NASDAQ:LITE) Shares Sold by Hodges Capital Management Inc.

Hodges Capital Management Inc. lowered its position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 29.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,630 shares of the technology company's stock after selling 32,165 shares during the quarter. Hodges Capital Management Inc. owned about 0.11% of Lumentum worth $4,984,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in LITE. Dimensional Fund Advisors LP increased its stake in Lumentum by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,703,969 shares of the technology company's stock worth $86,760,000 after purchasing an additional 130,838 shares during the period. Atreides Management LP increased its stake in Lumentum by 28.5% in the 3rd quarter. Atreides Management LP now owns 1,691,017 shares of the technology company's stock worth $107,177,000 after buying an additional 375,389 shares during the period. Van Lanschot Kempen Investment Management N.V. lifted its holdings in Lumentum by 17.8% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,154,805 shares of the technology company's stock valued at $58,803,000 after buying an additional 174,828 shares in the last quarter. Divisar Capital Management LLC boosted its position in Lumentum by 5.8% in the 2nd quarter. Divisar Capital Management LLC now owns 961,574 shares of the technology company's stock valued at $48,963,000 after buying an additional 52,300 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Lumentum by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 738,155 shares of the technology company's stock worth $46,784,000 after acquiring an additional 37,109 shares in the last quarter. Institutional investors own 94.05% of the company's stock.

Insider Buying and Selling

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

Lumentum Stock Performance

NASDAQ LITE traded up $0.20 on Friday, hitting $92.84. 1,483,212 shares of the company's stock traded hands, compared to its average volume of 2,192,942. The firm's 50-day moving average price is $74.95 and its two-hundred day moving average price is $60.02. The firm has a market capitalization of $6.38 billion, a PE ratio of -11.21 and a beta of 0.95. The company has a current ratio of 5.36, a quick ratio of 4.04 and a debt-to-equity ratio of 2.87. Lumentum Holdings Inc. has a 1-year low of $38.28 and a 1-year high of $95.92.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LITE shares. Susquehanna raised their price target on Lumentum from $80.00 to $115.00 and gave the company a "positive" rating in a research note on Friday, November 8th. B. Riley boosted their price target on shares of Lumentum from $40.00 to $50.00 and gave the company a "neutral" rating in a report on Thursday, August 15th. JPMorgan Chase & Co. increased their price objective on shares of Lumentum from $57.00 to $65.00 and gave the company an "overweight" rating in a research note on Monday, August 12th. Jefferies Financial Group boosted their price objective on shares of Lumentum from $53.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, August 15th. Finally, Needham & Company LLC upped their target price on Lumentum from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, August 15th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Lumentum has a consensus rating of "Hold" and a consensus 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.