11,965 Shares in Lumentum Holdings Inc. (NASDAQ:LITE) Acquired by Trexquant Investment LP
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.
COPYRIGHT VIOLATION WARNING: This news story was originally reported by Daily Political and is the sole property of of Daily Political. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of US and international trademark and copyright law. The legal version of this news story can be accessed at https://www.dailypolitical.com/2017/08/12/11965-shares-in-lumentum-holdings-inc-nasdaqlite-acquired-by-trexquant-investment-lp.html.
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).
Want to see what other hedge funds are holding LITE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lumentum Holdings Inc. (NASDAQ:LITE).
Receive News & Ratings for Lumentum Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumentum Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.