Hood River Capital Management LLC increased its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 117.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 618,792 shares of the technology company’s stock after buying an additional 334,775 shares during the period. Lumentum Holdings comprises about 2.1% of Hood River Capital Management LLC’s portfolio, making the stock its 7th biggest position. Hood River Capital Management LLC owned 1.00% of Lumentum Holdings worth $33,631,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LITE. Riverhead Capital Management LLC increased its stake in shares of Lumentum Holdings by 71.8% during the second quarter. Riverhead Capital Management LLC now owns 2,062 shares of the technology company’s stock worth $118,000 after buying an additional 862 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Lumentum Holdings by 111.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,662 shares of the technology company’s stock worth $152,000 after buying an additional 1,406 shares during the period. Creative Planning increased its stake in shares of Lumentum Holdings by 54.2% during the second quarter. Creative Planning now owns 3,039 shares of the technology company’s stock worth $173,000 after buying an additional 1,068 shares during the period. LS Investment Advisors LLC increased its stake in shares of Lumentum Holdings by 2.1% during the second quarter. LS Investment Advisors LLC now owns 3,569 shares of the technology company’s stock worth $204,000 after buying an additional 75 shares during the period. Finally, World Asset Management Inc purchased a new stake in shares of Lumentum Holdings during the second quarter worth approximately $211,000. Hedge funds and other institutional investors own 95.69% of the company’s stock.

In related news, CEO Alan S. Lowe sold 4,364 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $54.59, for a total transaction of $238,230.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Vincent Retort sold 30,706 shares of the stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $54.46, for a total value of $1,672,248.76. Following the sale, the chief operating officer now directly owns 110,770 shares of the company’s stock, valued at $6,032,534.20. The disclosure for this sale can be found here. Insiders sold 93,040 shares of company stock valued at $4,972,395 over the last three months. Corporate insiders own 0.76% of the company’s stock.

Lumentum Holdings Inc. (NASDAQ:LITE) traded up $0.65 during mid-day trading on Thursday, hitting $56.45. The stock had a trading volume of 1,008,700 shares, compared to its average volume of 1,818,077. The firm has a market capitalization of $3,500.00 and a P/E ratio of 39.02. Lumentum Holdings Inc. has a 1-year low of $34.15 and a 1-year high of $68.63. The company has a debt-to-equity ratio of 0.50, a current ratio of 5.21 and a quick ratio of 4.38.

A number of research firms recently weighed in on LITE. Zacks Investment Research upgraded shares of Lumentum Holdings from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Friday, November 3rd. Barclays PLC upped their price target on Lumentum Holdings from $59.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. MKM Partners upped their price target on Lumentum Holdings to $71.00 and gave the company a “neutral” rating in a report on Thursday, November 2nd. DA Davidson upped their price target on Lumentum Holdings from $82.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $85.00 price target (up from $75.00) on shares of Lumentum Holdings in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $68.06.

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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).

Institutional Ownership by Quarter for Lumentum Holdings (NASDAQ:LITE)

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