Trexquant Investment LP purchased a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,965 shares of the technology company’s stock, valued at approximately $683,000.

Other institutional investors have also recently modified their holdings of the company. Creative Planning raised its position in shares of Lumentum Holdings by 15.1% in the first quarter. Creative Planning now owns 1,971 shares of the technology company’s stock valued at $105,000 after buying an additional 258 shares during the period. LS Investment Advisors LLC increased its stake in Lumentum Holdings by 69.1% in the first quarter. LS Investment Advisors LLC now owns 3,494 shares of the technology company’s stock worth $186,000 after buying an additional 1,428 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Lumentum Holdings during the first quarter worth approximately $206,000. World Asset Management Inc bought a new stake in Lumentum Holdings during the second quarter worth approximately $211,000. Finally, Thompson Davis & CO. Inc. increased its stake in Lumentum Holdings by 384.0% in the first quarter. Thompson Davis & CO. Inc. now owns 4,162 shares of the technology company’s stock worth $222,000 after buying an additional 3,302 shares in the last quarter. 95.06% of the stock is currently owned by institutional investors and hedge funds.

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) opened at 51.95 on Friday. The firm has a 50 day moving average price of $60.82 and a 200 day moving average price of $52.69. The company’s market capitalization is $3.19 billion. Lumentum Holdings Inc. has a one year low of $31.82 and a one year high of $68.63.

Lumentum Holdings (NASDAQ:LITE) last announced its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.18. The company had revenue of $222.70 million for the quarter, compared to the consensus estimate of $229.45 million. Lumentum Holdings had a positive return on equity of 18.12% and a negative net margin of 10.25%. The firm’s revenue was down 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 EPS. On average, equities research analysts predict that Lumentum Holdings Inc. will post $3.02 EPS for the current fiscal year.

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A number of equities research analysts recently commented on the company. Zacks Investment Research downgraded Lumentum Holdings from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 23rd. B. Riley reiterated a “buy” rating and issued a $58.00 price objective on shares of Lumentum Holdings in a report on Friday, May 5th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $68.00 price objective on shares of Lumentum Holdings in a report on Thursday. DA Davidson reiterated a “buy” rating and issued a $83.00 price objective (up previously from $77.00) on shares of Lumentum Holdings in a report on Thursday. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $72.00 price objective (up previously from $63.00) on shares of Lumentum Holdings in a report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $64.75.

In other news, COO Vincent Retort sold 2,029 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $54.26, for a total value of $110,093.54. Following the transaction, the chief operating officer now directly owns 68,448 shares of the company’s stock, valued at approximately $3,713,988.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alan S. Lowe sold 5,954 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $54.29, for a total value of $323,242.66. Following the completion of the transaction, the chief executive officer now directly owns 153,439 shares in the company, valued at $8,330,203.31. The disclosure for this sale can be found here. Insiders sold a total of 11,813 shares of company stock worth $648,776 over the last three months. 0.76% of the stock is owned by company 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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Institutional Ownership by Quarter for Lumentum Holdings (NASDAQ:LITE)

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