New York State Common Retirement Fund decreased its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 3.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,588 shares of the technology company’s stock after selling 4,300 shares during the period. New York State Common Retirement Fund’s holdings in Lumentum were worth $8,834,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Signaturefd LLC increased its holdings in shares of Lumentum by 167.8% in the 2nd quarter. Signaturefd LLC now owns 308 shares of the technology company’s stock worth $25,000 after purchasing an additional 193 shares in the last quarter. Jacobi Capital Management LLC raised its position in shares of Lumentum by 146.9% during the 2nd quarter. Jacobi Capital Management LLC now owns 353 shares of the technology company’s stock valued at $29,000 after buying an additional 210 shares during the period. NEXT Financial Group Inc purchased a new stake in shares of Lumentum during the 3rd quarter valued at approximately $35,000. Hall Laurie J Trustee purchased a new stake in shares of Lumentum during the 3rd quarter valued at approximately $46,000. Finally, Flagship Harbor Advisors LLC raised its position in shares of Lumentum by 188.7% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 638 shares of the technology company’s stock valued at $51,000 after buying an additional 417 shares during the period. 99.76% of the stock is owned by institutional investors and hedge funds.

In related news, Director Penny Herscher sold 1,626 shares of the business’s stock in a transaction on Monday, November 16th. The shares were sold at an average price of $82.38, for a total value of $133,949.88. Following the completion of the sale, the director now directly owns 38,991 shares of the company’s stock, valued at $3,212,078.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Wajid Ali sold 6,480 shares of the business’s stock in a transaction on Tuesday, November 17th. The shares were sold at an average price of $82.50, for a total transaction of $534,600.00. Following the completion of the sale, the chief financial officer now directly owns 99,780 shares of the company’s stock, valued at $8,231,850. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,716 shares of company stock valued at $4,649,613. Insiders own 0.32% of the company’s stock.

Several analysts have recently commented on the stock. Stifel Nicolaus reduced their price target on shares of Lumentum from $105.00 to $98.00 and set a “buy” rating on the stock in a research report on Tuesday, September 1st. Barclays dropped their target price on shares of Lumentum from $105.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, September 16th. Rosenblatt Securities dropped their target price on shares of Lumentum from $105.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday, November 3rd. B. Riley lifted their target price on shares of Lumentum from $99.00 to $101.00 and gave the company a “buy” rating in a report on Tuesday, November 3rd. Finally, TheStreet upgraded shares of Lumentum from a “c+” rating to a “b” rating in a report on Monday, November 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $102.32.

NASDAQ:LITE opened at $83.35 on Friday. The company has a quick ratio of 6.58, a current ratio of 7.38 and a debt-to-equity ratio of 0.62. The company has a fifty day simple moving average of $83.12 and a two-hundred day simple moving average of $80.70. The company has a market cap of $6.29 billion, a price-to-earnings ratio of 41.88 and a beta of 1.08. Lumentum Holdings Inc. has a 52 week low of $59.06 and a 52 week high of $96.74.

Lumentum (NASDAQ:LITE) last issued its earnings results on Monday, November 2nd. The technology company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.31. The firm had revenue of $452.40 million during the quarter, compared to the consensus estimate of $441.30 million. Lumentum had a net margin of 9.22% and a return on equity of 21.41%. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.44 earnings per share. On average, analysts expect that Lumentum Holdings Inc. will post 5.24 EPS for the current year.

About Lumentum

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 in 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.

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Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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