Fisher Asset Management LLC Boosts Holdings in Lumentum Holdings Inc. $LITE

Fisher Asset Management LLC boosted its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 22.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 820,230 shares of the technology company’s stock after acquiring an additional 149,962 shares during the period. Fisher Asset Management LLC owned about 1.18% of Lumentum worth $77,971,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. FNY Investment Advisers LLC acquired a new position in shares of Lumentum during the 2nd quarter worth approximately $38,000. SVB Wealth LLC acquired a new stake in Lumentum during the 1st quarter valued at $40,000. MAI Capital Management increased its position in Lumentum by 27.0% during the second quarter. MAI Capital Management now owns 452 shares of the technology company’s stock worth $43,000 after buying an additional 96 shares in the last quarter. Advisors Asset Management Inc. increased its position in Lumentum by 36.8% during the first quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock worth $59,000 after buying an additional 254 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in shares of Lumentum by 224.4% in the second quarter. Hantz Financial Services Inc. now owns 704 shares of the technology company’s stock worth $67,000 after acquiring an additional 487 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Zacks Research lowered Lumentum from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Citigroup began coverage on shares of Lumentum in a report on Friday, August 29th. They issued a “buy” rating and a $165.00 target price on the stock. Needham & Company LLC lifted their price target on shares of Lumentum to $290.00 and gave the stock a “buy” rating in a report on Monday, November 24th. B. Riley boosted their price objective on shares of Lumentum from $83.00 to $147.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Finally, Barclays raised their target price on shares of Lumentum from $165.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $202.50.

Lumentum Trading Down 2.2%

Shares of LITE stock opened at $317.93 on Tuesday. The firm’s 50-day simple moving average is $206.41 and its 200-day simple moving average is $142.34. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.37 and a quick ratio of 1.02. Lumentum Holdings Inc. has a 1-year low of $45.65 and a 1-year high of $325.46. The firm has a market cap of $22.54 billion, a P/E ratio of 213.38 and a beta of 1.52.

Insider Activity at Lumentum

In related news, SVP Jae Kim sold 1,367 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $234.14, for a total value of $320,069.38. Following the transaction, the senior vice president directly owned 38,570 shares of the company’s stock, valued at approximately $9,030,779.80. This trade represents a 3.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Isaac Hosojiro Harris sold 7,200 shares of Lumentum stock in a transaction on Friday, November 7th. The shares were sold at an average price of $243.32, for a total value of $1,751,904.00. Following the completion of the transaction, the director owned 9,764 shares in the company, valued at $2,375,776.48. The trade was a 42.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 28,612 shares of company stock valued at $7,317,398 over the last 90 days. 0.43% of the stock is currently owned by insiders.

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 (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.