Municipal Employees Retirement System of Michigan raised its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 5.2% during the second quarter, Holdings Channel reports. The institutional investor owned 13,150 shares of the technology company’s stock after buying an additional 650 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Lumentum Holdings were worth $750,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Creative Planning boosted its position in Lumentum Holdings by 15.1% in the first quarter. Creative Planning now owns 1,971 shares of the technology company’s stock worth $105,000 after buying an additional 258 shares during the period. LS Investment Advisors LLC boosted its position in Lumentum Holdings by 69.1% in the first quarter. LS Investment Advisors LLC now owns 3,494 shares of the technology company’s stock worth $186,000 after buying an additional 1,428 shares during the period. Teacher Retirement System of Texas purchased a new position in Lumentum Holdings during the first quarter worth $206,000. Thompson Davis & CO. Inc. boosted its position in Lumentum Holdings by 384.0% in the first quarter. Thompson Davis & CO. Inc. now owns 4,162 shares of the technology company’s stock worth $222,000 after buying an additional 3,302 shares during the period. Finally, Ameritas Investment Partners Inc. purchased a new position in Lumentum Holdings during the first quarter worth $233,000. Institutional investors own 97.36% of the company’s stock.

Shares of Lumentum Holdings Inc. (NASDAQ LITE) opened at 53.00 on Wednesday. The stock’s market capitalization is $3.26 billion. Lumentum Holdings Inc. has a 52-week low of $31.50 and a 52-week high of $68.63. The firm’s 50 day moving average is $60.26 and its 200 day moving average is $53.13.

Lumentum Holdings (NASDAQ:LITE) last announced its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.18. The business had revenue of $222.70 million during the quarter, compared to analysts’ expectations of $229.45 million. Lumentum Holdings had a positive return on equity of 18.12% and a negative net margin of 10.25%. The business’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 EPS. Equities analysts expect that Lumentum Holdings Inc. will post $3.02 earnings per share for the current year.

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A number of research analysts have weighed in on LITE shares. BidaskClub upgraded shares of Lumentum Holdings from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 23rd. Stifel Nicolaus restated a “buy” rating and issued a $73.00 price target on shares of Lumentum Holdings in a report on Saturday, July 22nd. Zacks Investment Research cut shares of Lumentum Holdings from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 23rd. Jefferies Group LLC restated a “buy” rating and issued a $62.00 price target on shares of Lumentum Holdings in a report on Monday, May 15th. Finally, Barclays PLC upgraded shares of Lumentum Holdings from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $35.00 to $48.00 in a report on Friday, May 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $64.75.

In related news, COO Vincent Retort sold 805 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $58.15, for a total transaction of $46,810.75. Following the completion of the sale, the chief operating officer now owns 66,755 shares in the company, valued at $3,881,803.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Alan S. Lowe sold 1,085 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $58.15, for a total value of $63,092.75. Following the sale, the chief executive officer now owns 143,447 shares of the company’s stock, valued at approximately $8,341,443.05. The disclosure for this sale can be found here. 0.76% of the stock is owned by insiders.

About Lumentum Holdings

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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