Municipal Employees Retirement System of Michigan increased its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 76.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,140 shares of the technology company’s stock after purchasing an additional 9,990 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Lumentum Holdings were worth $1,258,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in LITE. Suntrust Banks Inc. raised its position in Lumentum Holdings by 0.4% during the second quarter. Suntrust Banks Inc. now owns 9,468 shares of the technology company’s stock worth $539,000 after acquiring an additional 37 shares in the last quarter. LS Investment Advisors LLC raised its position in Lumentum Holdings by 2.1% during the second quarter. LS Investment Advisors LLC now owns 3,569 shares of the technology company’s stock worth $204,000 after acquiring an additional 75 shares in the last quarter. Arizona State Retirement System raised its position in Lumentum Holdings by 0.7% during the second quarter. Arizona State Retirement System now owns 29,060 shares of the technology company’s stock worth $1,658,000 after acquiring an additional 200 shares in the last quarter. Stifel Financial Corp raised its position in Lumentum Holdings by 6.6% during the second quarter. Stifel Financial Corp now owns 7,271 shares of the technology company’s stock worth $415,000 after acquiring an additional 447 shares in the last quarter. Finally, Texas Permanent School Fund raised its position in Lumentum Holdings by 1.2% during the second quarter. Texas Permanent School Fund now owns 40,628 shares of the technology company’s stock worth $2,318,000 after acquiring an additional 468 shares in the last quarter. Institutional investors and hedge funds own 95.69% of the company’s stock.

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In related news, Director Martin A. Kaplan sold 15,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $57.07, for a total transaction of $856,050.00. Following the transaction, the director now directly owns 29,573 shares of the company’s stock, valued at $1,687,731.11. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Alan S. Lowe sold 6,025 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $57.13, for a total transaction of $344,208.25. Following the transaction, the chief executive officer now directly owns 250,593 shares in the company, valued at $14,316,378.09. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 99,065 shares of company stock worth $5,316,603. 0.76% of the stock is owned by insiders.

Several analysts have issued reports on LITE shares. UBS AG upped their price target on shares of Lumentum Holdings from $66.00 to $70.00 in a research report on Wednesday, August 9th. Rosenblatt Securities set a $70.00 price objective on shares of Lumentum Holdings and gave the company a “buy” rating in a research report on Wednesday, August 9th. Craig Hallum reissued a “buy” rating and issued a $75.00 price objective on shares of Lumentum Holdings in a research report on Wednesday, August 9th. B. Riley reissued a “buy” rating and issued a $81.00 price objective on shares of Lumentum Holdings in a research report on Sunday, August 13th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $72.00 price objective (up from $63.00) on shares of Lumentum Holdings in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. Lumentum Holdings presently has an average rating of “Buy” and an average price target of $68.06.

Lumentum Holdings Inc. (NASDAQ LITE) opened at $57.50 on Monday. Lumentum Holdings Inc. has a 1 year low of $34.15 and a 1 year high of $68.63. The company has a market cap of $3,565.00, a PE ratio of 40.21, a P/E/G ratio of 1.05 and a beta of 1.03. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.38 and a current ratio of 5.21.

Lumentum Holdings Profile

Lumentum Holdings Inc is a provider of optical and photonic products for a range of end market applications, including data communications (Datacom) and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Company operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers).

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Institutional Ownership by Quarter for Lumentum Holdings (NASDAQ:LITE)

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