Wells Fargo & Company MN Purchases 41,808 Shares of Lumentum Holdings Inc. (LITE)

Wells Fargo & Company MN boosted its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 60.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 110,876 shares of the technology company’s stock after purchasing an additional 41,808 shares during the quarter. Wells Fargo & Company MN owned about 0.18% of Lumentum Holdings worth $6,326,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of LITE. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Lumentum Holdings by 111.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,662 shares of the technology company’s stock valued at $152,000 after purchasing an additional 1,406 shares during the last quarter. Creative Planning lifted its position in Lumentum Holdings by 54.2% in the 2nd quarter. Creative Planning now owns 3,039 shares of the technology company’s stock valued at $173,000 after purchasing an additional 1,068 shares during the last quarter. LS Investment Advisors LLC lifted its position in Lumentum Holdings by 2.1% in the 2nd quarter. LS Investment Advisors LLC now owns 3,569 shares of the technology company’s stock valued at $204,000 after purchasing an additional 75 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in Lumentum Holdings in the 1st quarter valued at about $206,000. Finally, World Asset Management Inc bought a new stake in Lumentum Holdings in the 2nd quarter valued at about $211,000. Hedge funds and other institutional investors own 95.74% of the company’s stock.

In related news, Director Penny Herscher sold 1,313 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $53.04, for a total transaction of $69,641.52. Following the transaction, the director now owns 26,464 shares in the company, valued at approximately $1,403,650.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Alan S. Lowe sold 7,916 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $52.62, for a total transaction of $416,539.92. Following the transaction, the chief executive officer now owns 141,162 shares in the company, valued at approximately $7,427,944.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 87,269 shares of company stock worth $4,602,526. 0.76% of the stock is owned by corporate insiders.

Several analysts recently weighed in on the stock. Barclays PLC reiterated a “hold” rating on shares of Lumentum Holdings in a research report on Friday, July 14th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $68.00 price objective on shares of Lumentum Holdings in a research report on Thursday, September 14th. BidaskClub downgraded shares of Lumentum Holdings from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. MKM Partners upgraded shares of Lumentum Holdings from a “neutral” rating to a “buy” rating and set a $66.00 price target on the stock in a research report on Wednesday, September 27th. They noted that the move was a valuation call. Finally, Rosenblatt Securities restated a “buy” rating and set a $75.00 price target (up from $70.00) on shares of Lumentum Holdings in a research report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Lumentum Holdings currently has an average rating of “Buy” and a consensus price target of $66.25.

COPYRIGHT VIOLATION WARNING: This news story was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this news story on another domain, it was illegally stolen and republished in violation of international copyright laws. The legal version of this news story can be read at https://ledgergazette.com/2017/10/10/wells-fargo-company-mn-purchases-41808-shares-of-lumentum-holdings-inc-lite.html.

Lumentum Holdings Inc. (NASDAQ:LITE) opened at 58.60 on Tuesday. Lumentum Holdings Inc. has a 52 week low of $32.90 and a 52 week high of $60.00. The firm’s market cap is $3.60 billion. The stock has a 50 day moving average of $56.20 and a 200 day moving average of $56.20.

Lumentum Holdings (NASDAQ:LITE) last issued its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.18. The business had revenue of $222.70 million for the quarter, compared to the consensus estimate of $229.45 million. Lumentum Holdings had a negative net margin of 10.25% and a positive return on equity of 18.12%. The firm’s quarterly revenue was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. Analysts anticipate that Lumentum Holdings Inc. will post $3.08 EPS for the current year.

Lumentum Holdi

A number of other large investors have also recently modified their holdings of LITE. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Lumentum Holdings by 111.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,662 shares of the technology company’s stock valued at $152,000 after purchasing an additional 1,406 shares during the last quarter. Creative Planning lifted its position in Lumentum Holdings by 54.2% in the 2nd quarter. Creative Planning now owns 3,039 shares of the technology company’s stock valued at $173,000 after purchasing an additional 1,068 shares during the last quarter. LS Investment Advisors LLC lifted its position in Lumentum Holdings by 2.1% in the 2nd quarter. LS Investment Advisors LLC now owns 3,569 shares of the technology company’s stock valued at $204,000 after purchasing an additional 75 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in Lumentum Holdings in the 1st quarter valued at about $206,000. Finally, World Asset Management Inc bought a new stake in Lumentum Holdings in the 2nd quarter valued at about $211,000. Hedge funds and other institutional investors own 95.74% of the company’s stock.

In related news, Director Penny Herscher sold 1,313 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $53.04, for a total transaction of $69,641.52. Following the transaction, the director now owns 26,464 shares in the company, valued at approximately $1,403,650.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Alan S. Lowe sold 7,916 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $52.62, for a total transaction of $416,539.92. Following the transaction, the chief executive officer now owns 141,162 shares in the company, valued at approximately $7,427,944.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 87,269 shares of company stock worth $4,602,526. 0.76% of the stock is owned by corporate insiders.

Several analysts recently weighed in on the stock. Barclays PLC reiterated a “hold” rating on shares of Lumentum Holdings in a research report on Friday, July 14th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $68.00 price objective on shares of Lumentum Holdings in a research report on Thursday, September 14th. BidaskClub downgraded shares of Lumentum Holdings from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. MKM Partners upgraded shares of Lumentum Holdings from a “neutral” rating to a “buy” rating and set a $66.00 price target on the stock in a research report on Wednesday, September 27th. They noted that the move was a valuation call. Finally, Rosenblatt Securities restated a “buy” rating and set a $75.00 price target (up from $70.00) on shares of Lumentum Holdings in a research report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Lumentum Holdings currently has an average rating of “Buy” and a consensus price target of $66.25.

COPYRIGHT VIOLATION WARNING: This news story was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this news story on another domain, it was illegally stolen and republished in violation of international copyright laws. The legal version of this news story can be read at https://ledgergazette.com/2017/10/10/wells-fargo-company-mn-purchases-41808-shares-of-lumentum-holdings-inc-lite.html.

Lumentum Holdings Inc. (NASDAQ:LITE) opened at 58.60 on Tuesday. Lumentum Holdings Inc. has a 52 week low of $32.90 and a 52 week high of $60.00. The firm’s market cap is $3.60 billion. The stock has a 50 day moving average of $56.20 and a 200 day moving average of $56.20.

Lumentum Holdings (NASDAQ:LITE) last issued its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.18. The business had revenue of $222.70 million for the quarter, compared to the consensus estimate of $229.45 million. Lumentum Holdings had a negative net margin of 10.25% and a positive return on equity of 18.12%. The firm’s quarterly revenue was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. Analysts anticipate that Lumentum Holdings Inc. will post $3.08 EPS for the current year.

Lumentum Holdings Company Profile

Lumentum Holdings Inc is a provider of optical and photonic products for a range of end market applications, including data communications (Datacom) and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Company operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers).

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Institutional Ownership by Quarter for Lumentum Holdings (NASDAQ:LITE)

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