New York State Teachers Retirement System decreased its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,914 shares of the technology company’s stock after selling 2,000 shares during the period. New York State Teachers Retirement System owned 0.19% of Lumentum Holdings worth $6,246,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in LITE. Bank of New York Mellon Corp lifted its holdings in shares of Lumentum Holdings by 71.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,662,272 shares of the technology company’s stock worth $151,883,000 after purchasing an additional 1,107,107 shares during the last quarter. Columbus Circle Investors bought a new stake in shares of Lumentum Holdings in the 2nd quarter worth approximately $34,743,000. BlackRock Inc. lifted its holdings in shares of Lumentum Holdings by 7.0% in the 2nd quarter. BlackRock Inc. now owns 6,889,157 shares of the technology company’s stock worth $393,025,000 after purchasing an additional 448,077 shares during the last quarter. Gilder Gagnon Howe & Co. LLC lifted its holdings in shares of Lumentum Holdings by 23.4% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 2,099,760 shares of the technology company’s stock worth $119,791,000 after purchasing an additional 397,622 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Lumentum Holdings by 169.4% in the 2nd quarter. Lord Abbett & CO. LLC now owns 584,992 shares of the technology company’s stock worth $33,374,000 after purchasing an additional 367,860 shares during the last quarter. 95.69% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages recently issued reports on LITE. Rosenblatt Securities set a $75.00 price target on Lumentum Holdings and gave the stock a “buy” rating in a report on Tuesday, October 24th. Barclays PLC reissued a “hold” rating on shares of Lumentum Holdings in a report on Friday, July 14th. Piper Jaffray Companies reissued an “overweight” rating and issued a $68.00 price target on shares of Lumentum Holdings in a report on Thursday, September 14th. BidaskClub downgraded Lumentum Holdings from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. Finally, MKM Partners raised Lumentum Holdings from a “neutral” rating to a “buy” rating and set a $66.00 price target on the stock in a report on Wednesday, September 27th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $68.06.

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Lumentum Holdings Inc. (LITE) opened at $57.15 on Friday. Lumentum Holdings Inc. has a 1 year low of $34.15 and a 1 year high of $68.63. The stock has a market capitalization of $3,437.90, a price-to-earnings ratio of 38.78, a PEG ratio of 1.01 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 (NASDAQ:LITE) last issued its quarterly earnings results 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. Lumentum Holdings had a positive return on equity of 15.99% and a negative net margin of 9.32%. The company had revenue of $222.70 million for the quarter, compared to analysts’ expectations of $229.45 million. During the same period last year, the firm earned $0.41 EPS. The firm’s revenue for the quarter was down 7.9% on a year-over-year basis. sell-side analysts predict that Lumentum Holdings Inc. will post 2.79 earnings per share for the current year.

In other news, Director Penny Herscher sold 1,313 shares of Lumentum Holdings stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $53.04, for a total transaction of $69,641.52. Following the transaction, the director now directly owns 26,464 shares in the company, valued at approximately $1,403,650.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Alan S. Lowe sold 7,916 shares of Lumentum Holdings stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $52.62, for a total value of $416,539.92. Following the transaction, the chief executive officer now owns 141,162 shares in the company, valued at $7,427,944.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,269 shares of company stock worth $4,602,526. 0.76% of the stock is owned by insiders.

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).

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

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