Janus Henderson Group PLC acquired a new position in Lumentum Holdings Inc (NASDAQ:LITE) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,378 shares of the technology company’s stock, valued at approximately $474,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Ellis Investment Partners LLC increased its position in Lumentum by 5,816.5% in the first quarter. Ellis Investment Partners LLC now owns 1,488,472 shares of the technology company’s stock worth $1,488,000 after purchasing an additional 1,463,314 shares during the period. Oregon Public Employees Retirement Fund increased its position in Lumentum by 4,834.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,231,145 shares of the technology company’s stock worth $29,000 after purchasing an additional 1,206,194 shares during the period. Northern Trust Corp increased its position in Lumentum by 16.3% in the fourth quarter. Northern Trust Corp now owns 1,158,996 shares of the technology company’s stock worth $48,688,000 after purchasing an additional 162,095 shares during the period. Dimensional Fund Advisors LP increased its position in Lumentum by 31.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,131,377 shares of the technology company’s stock worth $47,529,000 after purchasing an additional 272,165 shares during the period. Finally, Eagle Asset Management Inc. increased its position in Lumentum by 0.9% in the fourth quarter. Eagle Asset Management Inc. now owns 858,329 shares of the technology company’s stock worth $36,058,000 after purchasing an additional 7,821 shares during the period. Hedge funds and other institutional investors own 86.44% of the company’s stock.

In other news, SVP Judy G. Hamel sold 1,429 shares of Lumentum stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $58.64, for a total transaction of $83,796.56. Following the transaction, the senior vice president now owns 44,793 shares in the company, valued at approximately $2,626,661.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin A. Kaplan sold 3,025 shares of Lumentum stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $48.72, for a total value of $147,378.00. Following the transaction, the director now owns 18,902 shares in the company, valued at approximately $920,905.44. The disclosure for this sale can be found here. Insiders have sold a total of 14,029 shares of company stock worth $713,563 in the last quarter. 0.55% of the stock is currently owned by company insiders.

Shares of LITE opened at $45.27 on Thursday. The company has a current ratio of 3.96, a quick ratio of 3.20 and a debt-to-equity ratio of 0.55. Lumentum Holdings Inc has a 1 year low of $37.00 and a 1 year high of $69.95. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 0.90 and a beta of 0.68.

Lumentum (NASDAQ:LITE) last issued its earnings results on Tuesday, May 7th. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.22. Lumentum had a return on equity of 19.94% and a net margin of 1.57%. The firm had revenue of $433.00 million for the quarter, compared to analysts’ expectations of $428.33 million. During the same quarter last year, the business earned $0.78 earnings per share. The company’s revenue was up 44.8% compared to the same quarter last year. As a group, equities analysts predict that Lumentum Holdings Inc will post 3.27 earnings per share for the current year.

A number of analysts recently commented on the company. Jefferies Financial Group reiterated a “buy” rating and issued a $70.00 price objective on shares of Lumentum in a research report on Friday, March 29th. Northland Securities reiterated a “buy” rating and issued a $70.00 price objective on shares of Lumentum in a research report on Monday, April 22nd. DA Davidson reiterated a “buy” rating and issued a $90.00 price objective on shares of Lumentum in a research report on Monday, May 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $80.00 price objective on shares of Lumentum in a research report on Tuesday, May 7th. Finally, Piper Jaffray Companies lifted their price objective on Lumentum to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. Lumentum presently has a consensus rating of “Buy” and a consensus price target of $67.16.

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Lumentum Profile

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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Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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