Lumentum Holdings Inc. (LITE) Stake Maintained by Nationwide Fund Advisors
Nationwide Fund Advisors maintained its position in Lumentum Holdings Inc. (NASDAQ:LITE) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,972 shares of the company’s stock at the end of the third quarter. Nationwide Fund Advisors owned 0.05% of Lumentum Holdings worth $1,377,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. RS Investment Management Co. LLC boosted its position in Lumentum Holdings by 1,548.6% in the second quarter. RS Investment Management Co. LLC now owns 1,395,702 shares of the company’s stock valued at $33,776,000 after buying an additional 1,311,042 shares during the period. Teachers Advisors Inc. boosted its position in Lumentum Holdings by 50.7% in the second quarter. Teachers Advisors Inc. now owns 2,734,615 shares of the company’s stock valued at $66,178,000 after buying an additional 919,821 shares during the period. BlackRock Fund Advisors boosted its position in Lumentum Holdings by 38.7% in the second quarter. BlackRock Fund Advisors now owns 3,204,522 shares of the company’s stock valued at $77,549,000 after buying an additional 893,643 shares during the period. Quentec Asset Management LLC boosted its position in Lumentum Holdings by 1,418.0% in the second quarter. Quentec Asset Management LLC now owns 880,525 shares of the company’s stock valued at $21,308,000 after buying an additional 822,519 shares during the period. Finally, Capital Research Global Investors boosted its position in Lumentum Holdings by 9.6% in the second quarter. Capital Research Global Investors now owns 6,441,454 shares of the company’s stock valued at $155,883,000 after buying an additional 564,000 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.
Shares of Lumentum Holdings Inc. (NASDAQ:LITE) traded up 0.12% during trading on Tuesday, reaching $41.35. The company had a trading volume of 425,393 shares. Lumentum Holdings Inc. has a 12-month low of $18.10 and a 12-month high of $45.25. The company has a market cap of $2.49 billion, a P/E ratio of 765.74 and a beta of 0.63. The firm has a 50-day moving average of $39.15 and a 200-day moving average of $32.68.
Lumentum Holdings (NASDAQ:LITE) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The company had revenue of $258.10 million for the quarter, compared to the consensus estimate of $251.95 million. Lumentum Holdings had a return on equity of 15.22% and a net margin of 0.62%. The firm’s revenue was up 21.4% compared to the same quarter last year. During the same period last year, the business posted $0.26 earnings per share. On average, equities research analysts anticipate that Lumentum Holdings Inc. will post $2.01 EPS for the current year.
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Several research analysts recently commented on LITE shares. Needham & Company LLC boosted their price target on Lumentum Holdings from $40.00 to $50.00 and gave the stock a “strong-buy” rating in a research note on Monday, September 19th. Zacks Investment Research upgraded Lumentum Holdings from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective on the stock in a research note on Tuesday, August 16th. Piper Jaffray Cos. restated an “overweight” rating and set a $38.00 price objective (up previously from $32.00) on shares of Lumentum Holdings in a research note on Saturday, August 13th. Goldman Sachs Group Inc. cut Lumentum Holdings from a “neutral” rating to a “sell” rating and set a $36.00 price objective on the stock. in a research note on Tuesday, October 11th. Finally, Jefferies Group upped their price objective on Lumentum Holdings from $39.00 to $51.50 and gave the company a “buy” rating in a research note on Monday, October 3rd. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $41.40.
In related news, CEO Alan S. Lowe sold 23,610 shares of the stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $35.45, for a total value of $836,974.50. Following the completion of the sale, the chief executive officer now owns 140,302 shares in the company, valued at $4,973,705.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Aaron Tachibana sold 5,180 shares of the stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $40.10, for a total transaction of $207,718.00. Following the completion of the sale, the chief financial officer now owns 47,548 shares of the company’s stock, valued at approximately $1,906,674.80. The disclosure for this sale can be found here. 0.76% of the stock is owned by insiders.
Lumentum Holdings Company 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).
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