Quantbot Technologies LP Buys 55,230 Shares of Lumentum Holdings Inc. $LITE

Quantbot Technologies LP grew its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 153.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,312 shares of the technology company’s stock after purchasing an additional 55,230 shares during the period. Quantbot Technologies LP owned approximately 0.13% of Lumentum worth $8,680,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of LITE. FNY Investment Advisers LLC purchased a new stake in Lumentum during the 2nd quarter valued at about $38,000. SVB Wealth LLC acquired a new position in shares of Lumentum during the 1st quarter worth approximately $40,000. MAI Capital Management grew its position in shares of Lumentum by 27.0% in the second quarter. MAI Capital Management now owns 452 shares of the technology company’s stock valued at $43,000 after purchasing an additional 96 shares during the period. Advisors Asset Management Inc. boosted its holdings in Lumentum by 36.8% in the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock worth $59,000 after buying an additional 254 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its position 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 valued at $67,000 after acquiring an additional 487 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Lumentum Trading Down 4.8%

Shares of LITE opened at $302.81 on Wednesday. The stock has a fifty day moving average of $209.19 and a two-hundred day moving average of $143.92. Lumentum Holdings Inc. has a fifty-two week low of $45.65 and a fifty-two week high of $325.46. The company has a market capitalization of $21.47 billion, a PE ratio of 203.23 and a beta of 1.53. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.02 and a current ratio of 1.37.

Insiders Place Their Bets

In other Lumentum news, SVP Jae Kim sold 1,367 shares of Lumentum stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $234.14, for a total transaction of $320,069.38. Following the transaction, the senior vice president directly owned 38,570 shares of the company’s stock, valued at $9,030,779.80. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Julia Suzanne Johnson sold 10,000 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $270.39, for a total value of $2,703,900.00. Following the completion of the sale, the director directly owned 12,037 shares of the company’s stock, valued at $3,254,684.43. The trade was a 45.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 28,612 shares of company stock worth $7,317,398. 0.43% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LITE. Weiss Ratings raised shares of Lumentum from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $280.00 price target on shares of Lumentum in a research report on Monday, November 24th. Morgan Stanley reaffirmed a “cautious” rating and set a $190.00 price objective on shares of Lumentum in a research report on Wednesday, November 5th. Wolfe Research reiterated an “outperform” rating and set a $240.00 price target on shares of Lumentum in a research note 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 investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Lumentum has a consensus rating of “Moderate Buy” and a consensus price target of $202.50.

Lumentum Company 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.