RS Investment Management Co. LLC increased its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 1,548.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,395,702 shares of the company’s stock after buying an additional 1,311,042 shares during the period. RS Investment Management Co. LLC’s holdings in Lumentum Holdings were worth $33,776,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in LITE. Louisiana State Employees Retirement System raised its stake in Lumentum Holdings by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 21,020 shares of the company’s stock worth $509,000 after buying an additional 100 shares during the last quarter. LaSalle Street Capital Management LLC raised its stake in Lumentum Holdings by 3.2% in the second quarter. LaSalle Street Capital Management LLC now owns 9,441 shares of the company’s stock worth $228,000 after buying an additional 292 shares during the last quarter. Arizona State Retirement System raised its stake in Lumentum Holdings by 3.4% in the first quarter. Arizona State Retirement System now owns 24,260 shares of the company’s stock worth $654,000 after buying an additional 800 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in Lumentum Holdings by 27.4% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,812 shares of the company’s stock worth $102,000 after buying an additional 821 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Lumentum Holdings by 133.1% in the first quarter. Legal & General Group Plc now owns 4,109 shares of the company’s stock worth $111,000 after buying an additional 2,346 shares during the last quarter. Institutional investors own 74.98% of the company’s stock.

Lumentum Holdings Inc. (NASDAQ:LITE) traded up 3.65% during trading on Thursday, reaching $41.79. 1,051,067 shares of the company’s stock traded hands. Lumentum Holdings Inc. has a 12 month low of $13.97 and a 12 month high of $41.81. The firm has a 50 day moving average price of $35.24 and a 200-day moving average price of $27.91. The firm’s market cap is $2.51 billion.

Lumentum Holdings (NASDAQ:LITE) last released its earnings results on Tuesday, August 9th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.05. Lumentum Holdings had a net margin of 1.01% and a return on equity of 11.91%. The firm earned $241.70 million during the quarter, compared to analyst estimates of $238.52 million. During the same quarter in the previous year, the business earned $0.15 EPS. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, analysts forecast that Lumentum Holdings Inc. will post $1.85 earnings per share for the current fiscal year.

A number of analysts have recently issued reports on LITE shares. Piper Jaffray Cos. restated an “overweight” rating and issued a $38.00 target price on shares of Lumentum Holdings in a report on Wednesday, September 7th. Needham & Company LLC restated a “buy” rating and issued a $35.00 target price on shares of Lumentum Holdings in a report on Wednesday, June 15th. MKM Partners increased their target price on Lumentum Holdings from $28.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 20th. Zacks Investment Research upgraded Lumentum Holdings from a “hold” rating to a “strong-buy” rating and set a $38.00 target price for the company in a report on Tuesday, August 16th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Lumentum Holdings in a report on Monday, August 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $35.29.

In other news, CEO Alan S. Lowe sold 23,610 shares of Lumentum Holdings stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $35.45, for a total transaction of $836,974.50. Following the transaction, the chief executive officer now directly owns 140,302 shares of the company’s stock, valued at $4,973,705.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Aaron Tachibana sold 6,086 shares of Lumentum Holdings stock in a transaction on Friday, August 19th. The stock was sold at an average price of $34.64, for a total transaction of $210,819.04. Following the transaction, the chief financial officer now directly owns 13,239 shares in the company, valued at $458,598.96. The disclosure for this sale can be found here.

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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