American Century Companies Inc. cut its position in Lumentum Holdings Inc (NASDAQ:LITE) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 78,804 shares of the technology company’s stock after selling 659 shares during the quarter. American Century Companies Inc.’s holdings in Lumentum were worth $3,311,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund increased its stake in Lumentum by 4,834.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,231,145 shares of the technology company’s stock valued at $29,000 after buying an additional 1,206,194 shares during the period. Norges Bank acquired a new position in Lumentum during the 4th quarter valued at about $34,669,000. Westfield Capital Management Co. LP acquired a new position in Lumentum during the 4th quarter valued at about $20,503,000. State of New Jersey Common Pension Fund D increased its stake in Lumentum by 128.0% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 570,000 shares of the technology company’s stock valued at $23,946,000 after buying an additional 320,000 shares during the period. Finally, State of Tennessee Treasury Department increased its stake in Lumentum by 547.1% during the 4th quarter. State of Tennessee Treasury Department now owns 323,554 shares of the technology company’s stock valued at $13,593,000 after buying an additional 273,554 shares during the period. Hedge funds and other institutional investors own 86.44% of the company’s stock.

Several equities analysts have commented on LITE shares. Craig Hallum set a $65.00 target price on shares of Lumentum and gave the company a “buy” rating in a research note on Monday, December 17th. Rosenblatt Securities set a $80.00 price objective on shares of Lumentum and gave the stock a “buy” rating in a research note on Tuesday, January 29th. Barclays reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Lumentum in a research note on Friday, January 18th. Zacks Investment Research raised shares of Lumentum from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Wednesday, January 16th. Finally, MKM Partners lifted their price objective on shares of Lumentum to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, February 6th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. Lumentum currently has a consensus rating of “Buy” and an average target price of $70.00.

Lumentum stock opened at $60.73 on Tuesday. The company has a market capitalization of $4.61 billion, a PE ratio of 18.74, a PEG ratio of 1.11 and a beta of 0.65. The company has a current ratio of 4.17, a quick ratio of 3.24 and a debt-to-equity ratio of 0.53. Lumentum Holdings Inc has a fifty-two week low of $37.00 and a fifty-two week high of $69.95.

Lumentum (NASDAQ:LITE) last released its earnings results on Tuesday, February 5th. The technology company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.15. The business had revenue of $373.70 million for the quarter, compared to the consensus estimate of $365.08 million. Lumentum had a net margin of 7.50% and a return on equity of 20.24%. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period last year, the firm posted $1.67 earnings per share. On average, equities research analysts predict that Lumentum Holdings Inc will post 3.31 earnings per share for the current fiscal year.

In other news, Director Harold L. Covert sold 3,017 shares of Lumentum stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $46.01, for a total value of $138,812.17. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $920,200. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jason Reinhardt sold 9,575 shares of Lumentum stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $50.38, for a total transaction of $482,388.50. Following the completion of the transaction, the executive vice president now directly owns 63,877 shares in the company, valued at $3,218,123.26. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,617 shares of company stock worth $768,579. 0.55% of the stock is currently owned by insiders.

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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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