Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Lumentum Holdings Inc (NASDAQ:LITE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 16,979 shares of the technology company’s stock, valued at approximately $983,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fortaleza Asset Management Inc. bought a new stake in Lumentum during the 2nd quarter worth approximately $110,000. Mount Yale Investment Advisors LLC purchased a new stake in Lumentum during the 1st quarter valued at approximately $121,000. Summit Trail Advisors LLC grew its holdings in Lumentum by 4,901.2% during the 1st quarter. Summit Trail Advisors LLC now owns 161,989 shares of the technology company’s stock valued at $162,000 after buying an additional 158,750 shares in the last quarter. Cerebellum GP LLC purchased a new stake in Lumentum during the 2nd quarter valued at approximately $184,000. Finally, FNY Investment Advisers LLC purchased a new stake in Lumentum during the 2nd quarter valued at approximately $190,000.

In related news, SVP Judy G. Hamel sold 2,495 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $63.21, for a total value of $157,708.95. Following the completion of the transaction, the senior vice president now directly owns 34,138 shares of the company’s stock, valued at $2,157,862.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Matthew Joseph Sepe sold 2,000 shares of the firm’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $64.91, for a total transaction of $129,820.00. Following the completion of the transaction, the insider now directly owns 15,332 shares of the company’s stock, valued at $995,200.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,274 shares of company stock valued at $450,384. 0.76% of the stock is currently owned by insiders.

LITE stock opened at $65.10 on Friday. Lumentum Holdings Inc has a fifty-two week low of $41.95 and a fifty-two week high of $74.40. The company has a quick ratio of 4.55, a current ratio of 5.27 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $3.87 billion, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 0.94 and a beta of -0.06.

Lumentum (NASDAQ:LITE) last posted its earnings results on Wednesday, August 8th. The technology company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.30. Lumentum had a net margin of 19.86% and a return on equity of 25.10%. The firm had revenue of $301.10 million during the quarter, compared to analyst estimates of $288.56 million. During the same period last year, the firm posted $0.39 earnings per share. Lumentum’s revenue for the quarter was up 35.2% compared to the same quarter last year. analysts predict that Lumentum Holdings Inc will post 3.66 earnings per share for the current year.

A number of brokerages have issued reports on LITE. Raymond James cut their price objective on shares of Lumentum from $99.00 to $85.00 and set a “strong-buy” rating for the company in a report on Wednesday. BidaskClub raised shares of Lumentum from a “hold” rating to a “buy” rating in a report on Friday, August 17th. TheStreet raised shares of Lumentum from a “c” rating to a “b” rating in a report on Thursday, August 9th. MKM Partners cut their price objective on shares of Lumentum to $78.00 and set a “buy” rating for the company in a report on Thursday, August 9th. Finally, Barclays increased their price objective on shares of Lumentum from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, August 9th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $79.70.

About Lumentum

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. It 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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Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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