Canada Pension Plan Investment Board reduced its stake in Lumentum Holdings Inc (NASDAQ:LITE) by 26.2% in the 2nd quarter, Holdings Channel reports. The firm owned 14,400 shares of the technology company’s stock after selling 5,100 shares during the period. Canada Pension Plan Investment Board’s holdings in Lumentum were worth $834,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Chicago Equity Partners LLC lifted its holdings in Lumentum by 5.0% in the 1st quarter. Chicago Equity Partners LLC now owns 17,460 shares of the technology company’s stock worth $1,114,000 after purchasing an additional 830 shares during the last quarter. King Luther Capital Management Corp lifted its holdings in Lumentum by 6.2% in the 1st quarter. King Luther Capital Management Corp now owns 17,100 shares of the technology company’s stock worth $1,091,000 after purchasing an additional 1,000 shares during the last quarter. Xact Kapitalforvaltning AB lifted its holdings in Lumentum by 11.9% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 9,402 shares of the technology company’s stock worth $544,000 after purchasing an additional 1,000 shares during the last quarter. Mason Street Advisors LLC lifted its holdings in Lumentum by 7.4% in the 1st quarter. Mason Street Advisors LLC now owns 17,311 shares of the technology company’s stock worth $1,104,000 after purchasing an additional 1,199 shares during the last quarter. Finally, Tygh Capital Management Inc. lifted its holdings in Lumentum by 1.1% in the 1st quarter. Tygh Capital Management Inc. now owns 114,192 shares of the technology company’s stock worth $7,285,000 after purchasing an additional 1,233 shares during the last quarter.

Several research firms recently weighed in on LITE. ValuEngine lowered Lumentum from a “buy” rating to a “hold” rating in a report on Tuesday. Piper Jaffray Companies restated an “overweight” rating and issued a $85.00 target price on shares of Lumentum in a report on Wednesday, August 8th. Cascend Securities initiated coverage on Lumentum in a report on Tuesday, July 17th. They issued a “buy” rating and a $70.00 target price for the company. BidaskClub lowered Lumentum from a “buy” rating to a “hold” rating in a report on Wednesday, May 23rd. Finally, JPMorgan Chase & Co. set a $80.00 price target on Lumentum and gave the stock a “hold” rating in a report on Tuesday. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $80.20.

LITE opened at $65.80 on Friday. The company has a market cap of $4.31 billion, a PE ratio of 20.37, a PEG ratio of 1.03 and a beta of 0.13. The company has a current ratio of 5.27, a quick ratio of 4.55 and a debt-to-equity ratio of 0.36. Lumentum Holdings Inc has a 1 year low of $41.95 and a 1 year high of $74.40.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.30. The business had revenue of $301.10 million for the quarter, compared to analysts’ expectations of $288.56 million. Lumentum had a return on equity of 25.10% and a net margin of 19.86%. Lumentum’s quarterly revenue was up 35.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 earnings per share. research analysts predict that Lumentum Holdings Inc will post 3.66 earnings per share for the current year.

In other news, Director Penny Herscher sold 1,313 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $58.85, for a total transaction of $77,270.05. Following the sale, the director now directly owns 18,910 shares in the company, valued at $1,112,853.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Christopher W. Coldren sold 3,416 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $64.36, for a total value of $219,853.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,690 shares of company stock worth $670,238. 0.76% of the stock is currently owned by company insiders.

Lumentum Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. It operates through two segments, Optical Communications and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.

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Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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