Schwab Charles Investment Management Inc. lifted its stake in Lumentum Holdings Inc (NASDAQ:LITE) by 9.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 320,195 shares of the technology company’s stock after purchasing an additional 28,695 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.52% of Lumentum worth $17,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently bought and sold shares of LITE. Riverhead Capital Management LLC increased its holdings in Lumentum by 71.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,062 shares of the technology company’s stock worth $118,000 after buying an additional 862 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Lumentum by 111.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,662 shares of the technology company’s stock worth $152,000 after buying an additional 1,406 shares in the last quarter. Virtu KCG Holdings LLC bought a new stake in Lumentum in the 2nd quarter worth about $226,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Lumentum in the 3rd quarter worth about $234,000. Finally, Everence Capital Management Inc. bought a new stake in Lumentum in the 2nd quarter worth about $266,000. 95.70% of the stock is owned by hedge funds and other institutional investors.
Shares of Lumentum Holdings Inc (NASDAQ:LITE) traded up $0.20 during trading hours on Friday, hitting $53.20. The company had a trading volume of 1,356,543 shares, compared to its average volume of 2,510,000. The company has a current ratio of 5.21, a quick ratio of 4.38 and a debt-to-equity ratio of 0.50. Lumentum Holdings Inc has a 52 week low of $34.15 and a 52 week high of $68.63. The company has a market cap of $3,300.00 and a P/E ratio of -34.77.
In related news, Director Penny Herscher sold 822 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $50.61, for a total value of $41,601.42. Following the transaction, the director now directly owns 34,793 shares of the company’s stock, valued at approximately $1,760,873.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Aaron Tachibana sold 1,248 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $60.00, for a total value of $74,880.00. Following the completion of the transaction, the chief financial officer now directly owns 69,830 shares in the company, valued at $4,189,800. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,643 shares of company stock worth $1,806,554. 0.76% of the stock is owned by insiders.
LITE has been the subject of several research analyst reports. Barclays upgraded Lumentum from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $65.00 to $67.00 in a report on Wednesday. BidaskClub downgraded Lumentum from a “hold” rating to a “sell” rating in a report on Friday, December 29th. Zacks Investment Research downgraded Lumentum from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Rosenblatt Securities restated a “buy” rating and set a $70.00 price target on shares of Lumentum in a research note on Thursday, September 21st. Finally, B. Riley restated a “buy” rating and set a $89.00 price target on shares of Lumentum in a research note on Friday, January 5th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. Lumentum presently has an average rating of “Buy” and an average price target of $69.69.
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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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