Quest Partners LLC increased its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 776,400.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,765 shares of the technology company's stock after purchasing an additional 7,764 shares during the period. Quest Partners LLC's holdings in Lumentum were worth $492,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of LITE. Vanguard Group Inc. grew its stake in shares of Lumentum by 0.3% in the first quarter. Vanguard Group Inc. now owns 7,218,293 shares of the technology company's stock valued at $341,786,000 after buying an additional 22,088 shares in the last quarter. Swedbank AB bought a new position in shares of Lumentum in the 1st quarter valued at about $71,025,000. International Assets Investment Management LLC increased 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 last quarter. DigitalBridge Group Inc. raised its holdings 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 valued at $28,237,000 after purchasing an additional 54,703 shares during the period. Finally, JB Capital LLC lifted its stake in Lumentum by 85.0% in 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 last quarter. 94.05% of the stock is owned by institutional investors.
Lumentum Price Performance
Shares of LITE stock traded up $3.48 on Friday, hitting $89.09. 2,309,919 shares of the company's stock were exchanged, compared to its average volume of 2,122,490. The stock has a market cap of $6.12 billion, a P/E ratio of -10.76 and a beta of 0.88. Lumentum Holdings Inc. has a 12 month low of $38.28 and a 12 month high of $90.51. The company has a 50 day moving average of $69.43 and a 200 day moving average of $56.89. The company has a debt-to-equity ratio of 2.87, a current ratio of 5.36 and a quick ratio of 4.04.
Insider Activity at Lumentum
In other news, Director Penny Herscher sold 1,625 shares of the 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 completion of the sale, the director now directly owns 6,852 shares of the company's stock, valued at $555,628.68. This represents a 19.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Matthew Joseph Sepe sold 8,172 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $87.60, for a total value of $715,867.20. Following the completion of the transaction, the chief accounting officer now owns 21,138 shares in the company, 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 have sold 28,142 shares of company stock worth $2,428,743 over the last ninety days. Insiders own 0.19% of the company's stock.
Analyst Ratings Changes
A number of brokerages have weighed in on LITE. Barclays boosted their price target on Lumentum from $40.00 to $80.00 and gave the stock an "underweight" rating in a research report on Monday, November 11th. Northland Securities lifted their price objective on shares of Lumentum from $45.00 to $60.00 and gave the stock a "market perform" rating in a research report on Friday, November 8th. Bank of America upped their price objective on shares of Lumentum from $45.00 to $50.00 and gave the company an "underperform" rating in a report on Thursday, August 15th. Jefferies Financial Group raised their target price 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, Raymond James increased their price target on shares of Lumentum from $70.00 to $100.00 and gave the company an "outperform" rating in a report on Friday, November 8th. 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 stock. Based on data from MarketBeat, Lumentum presently has an average rating of "Hold" and an average target price of $74.85.
Check Out Our Latest Stock Report on LITE
Lumentum Company Profile
(
Free Report)
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.
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