Texas Permanent School Fund reduced its stake in Lumentum Holdings Inc (NASDAQ:LITE) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,508 shares of the technology company’s stock after selling 1,091 shares during the period. Texas Permanent School Fund owned approximately 0.06% of Lumentum worth $2,369,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in LITE. Fortaleza Asset Management Inc. bought a new stake in shares of Lumentum in the 2nd quarter valued at approximately $110,000. FNY Investment Advisers LLC acquired a new position in shares of Lumentum in the 2nd quarter worth approximately $190,000. LS Investment Advisors LLC boosted its holdings in shares of Lumentum by 95.1% in the 2nd quarter. LS Investment Advisors LLC now owns 3,596 shares of the technology company’s stock worth $208,000 after acquiring an additional 1,753 shares in the last quarter. CIBC World Markets Inc. acquired a new position in shares of Lumentum in the 1st quarter worth approximately $213,000. Finally, Main Street Research LLC acquired a new position in shares of Lumentum in the 2nd quarter worth approximately $248,000.
In other Lumentum news, Director Penny Herscher sold 1,313 shares of the company’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $58.85, for a total transaction of $77,270.05. Following the transaction, the director now owns 18,910 shares of the company’s stock, valued at approximately $1,112,853.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Judy G. Hamel sold 2,495 shares of the company’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $63.21, for a total value of $157,708.95. Following the transaction, the senior vice president now directly owns 34,138 shares in the company, valued at approximately $2,157,862.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,421 shares of company stock worth $648,010. Company insiders own 0.55% of the company’s stock.
NASDAQ:LITE opened at $53.37 on Tuesday. Lumentum Holdings Inc has a 52-week low of $41.95 and a 52-week high of $74.40. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.88 and a current ratio of 5.52. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 0.76 and a beta of 0.46.
Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Thursday, November 1st. The technology company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.29. Lumentum had a return on equity of 28.74% and a net margin of 21.21%. The firm had revenue of $354.00 million for the quarter, compared to the consensus estimate of $351.21 million. During the same quarter in the prior year, the business earned $0.43 EPS. The business’s revenue for the quarter was up 45.7% compared to the same quarter last year. On average, analysts expect that Lumentum Holdings Inc will post 3.84 earnings per share for the current year.
Several research analysts have recently commented on the company. MKM Partners reduced their target price on Lumentum to $78.00 and set a “buy” rating on the stock in a report on Thursday, August 9th. JPMorgan Chase & Co. set a $80.00 target price on Lumentum and gave the stock a “hold” rating in a report on Thursday, August 9th. ValuEngine raised Lumentum from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Craig Hallum set a $85.00 target price on Lumentum and gave the stock a “buy” rating in a report on Wednesday, August 8th. Finally, TheStreet raised Lumentum from a “c” rating to a “b” rating in a report on Thursday, August 9th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Lumentum currently has a consensus rating of “Buy” and a consensus target price of $79.68.
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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 and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.
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