Lumentum Holdings Inc (LITE) Shares Bought by Nationwide Fund Advisors
Nationwide Fund Advisors boosted its position in shares of Lumentum Holdings Inc (NASDAQ:LITE) by 9.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 101,098 shares of the technology company’s stock after buying an additional 9,070 shares during the quarter. Nationwide Fund Advisors owned approximately 0.16% of Lumentum worth $5,495,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Riverhead Capital Management LLC lifted its holdings in Lumentum by 71.8% during the 2nd 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Lumentum by 111.9% during the 2nd 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 in the last quarter. World Asset Management Inc acquired a new position in Lumentum during the 2nd quarter worth $211,000. Virtu KCG Holdings LLC acquired a new position in Lumentum during the 2nd quarter worth $226,000. Finally, Alpine Woods Capital Investors LLC acquired a new position in Lumentum during the 2nd quarter worth $229,000. 95.70% of the stock is currently owned by hedge funds and other institutional investors.
Lumentum Holdings Inc (NASDAQ:LITE) opened at $50.27 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 5.21 and a quick ratio of 4.38. The firm has a market capitalization of $3,208.50, a price-to-earnings ratio of 36.19, a PEG ratio of 0.91 and a beta of 0.83. Lumentum Holdings Inc has a 12 month low of $34.15 and a 12 month high of $68.63.
Several research analysts have issued reports on LITE shares. Zacks Investment Research downgraded Lumentum from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. BidaskClub downgraded Lumentum from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. Barclays upped their price objective on Lumentum from $59.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $80.00 price objective on shares of Lumentum in a report on Wednesday, September 6th. Finally, B. Riley reaffirmed a “buy” rating and set a $81.00 price objective on shares of Lumentum in a report on Thursday, September 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. Lumentum presently has a consensus rating of “Buy” and a consensus target price of $68.25.
In other news, 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 transaction, the chief operating officer now owns 110,770 shares of the company’s stock, valued at approximately $6,032,534.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Penny Herscher sold 822 shares of the stock in a transaction on Friday, December 8th. The shares were sold at an average price of $50.61, for a total value of $41,601.42. Following the completion of the transaction, the director now directly owns 34,793 shares in the company, valued at approximately $1,760,873.73. The disclosure for this sale can be found here. In the last three months, insiders sold 66,713 shares of company stock worth $3,717,034. 0.76% of the stock is currently owned by company insiders.
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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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