Virginia Retirement Systems ET AL raised its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 22.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,900 shares of the technology company’s stock after purchasing an additional 1,100 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Lumentum were worth $321,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Kennedy Capital Management Inc. raised its position in shares of Lumentum by 24.2% during the 2nd quarter. Kennedy Capital Management Inc. now owns 383,304 shares of the technology company’s stock worth $21,867,000 after purchasing an additional 74,769 shares during the last quarter. Shelton Capital Management acquired a new position in shares of Lumentum during the 2nd quarter worth approximately $314,000. Alliancebernstein L.P. raised its position in shares of Lumentum by 14.5% during the 2nd quarter. Alliancebernstein L.P. now owns 2,102,853 shares of the technology company’s stock worth $119,968,000 after purchasing an additional 265,723 shares during the last quarter. Chicago Equity Partners LLC raised its position in shares of Lumentum by 20.1% during the 2nd quarter. Chicago Equity Partners LLC now owns 14,655 shares of the technology company’s stock worth $836,000 after purchasing an additional 2,455 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Lumentum during the 3rd quarter worth approximately $318,000. 95.70% of the stock is currently owned by institutional investors.

In other news, COO Vincent Retort sold 30,706 shares of the business’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $54.46, for a total transaction of $1,672,248.76. Following the completion of the sale, the chief operating officer now directly owns 110,770 shares of the company’s stock, valued at approximately $6,032,534.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alan S. Lowe sold 4,364 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $54.59, for a total transaction of $238,230.76. The disclosure for this sale can be found here. Insiders sold a total of 66,713 shares of company stock valued at $3,717,034 over the last quarter. 0.76% of the stock is currently owned by insiders.

Several research analysts recently issued reports on LITE shares. Zacks Investment Research downgraded Lumentum from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. BidaskClub downgraded Lumentum from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Needham & Company LLC restated a “strong-buy” rating and set a $80.00 price objective on shares of Lumentum in a research report on Wednesday, September 6th. Stifel Nicolaus restated a “buy” rating and set a $73.00 price objective on shares of Lumentum in a research report on Thursday, September 7th. Finally, B. Riley restated a “buy” rating and set a $81.00 price objective on shares of Lumentum in a research report on Thursday, September 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. Lumentum has a consensus rating of “Buy” and a consensus price target of $68.25.

Lumentum Holdings Inc. (NASDAQ:LITE) opened at $51.75 on Wednesday. The company has a quick ratio of 4.38, a current ratio of 5.21 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $3,317.00, a price-to-earnings ratio of 37.41, a price-to-earnings-growth ratio of 0.94 and a beta of 0.83. Lumentum Holdings Inc. has a twelve month low of $34.15 and a twelve month high of $68.63.

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About Lumentum

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 (NASDAQ:LITE)

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