American Century Companies Inc. boosted its stake in Lumentum Holdings Inc (NASDAQ:LITE) by 47.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,058 shares of the technology company’s stock after buying an additional 14,556 shares during the period. American Century Companies Inc.’s holdings in Lumentum were worth $2,609,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of LITE. Fortaleza Asset Management Inc. purchased a new stake in Lumentum in the second quarter worth about $110,000. Mount Yale Investment Advisors LLC purchased a new stake in Lumentum in the first quarter worth about $121,000. Summit Trail Advisors LLC lifted its holdings in Lumentum by 4,901.2% in the first quarter. Summit Trail Advisors LLC now owns 161,989 shares of the technology company’s stock worth $162,000 after buying an additional 158,750 shares during the period. Cerebellum GP LLC purchased a new stake in Lumentum in the second quarter worth about $184,000. Finally, FNY Investment Advisers LLC purchased a new stake in Lumentum in the second quarter worth about $190,000.

Shares of LITE opened at $65.80 on Friday. The company has a market cap of $4.11 billion, a P/E ratio of 20.31, a PEG ratio of 0.98 and a beta of 0.13. The company has a quick ratio of 4.55, a current ratio of 5.27 and a debt-to-equity ratio of 0.36. Lumentum Holdings Inc has a twelve month low of $41.95 and a twelve month high of $74.40.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Wednesday, August 8th. The technology company reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.30. Lumentum had a net margin of 19.86% and a return on equity of 25.10%. The company had revenue of $301.10 million during the quarter, compared to the consensus estimate of $288.56 million. During the same quarter last year, the firm earned $0.39 earnings per share. The firm’s quarterly revenue was up 35.2% compared to the same quarter last year. sell-side analysts anticipate that Lumentum Holdings Inc will post 3.66 EPS for the current fiscal year.

In other Lumentum news, CFO Christopher W. Coldren sold 3,416 shares of Lumentum 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Matthew Joseph Sepe sold 2,000 shares of Lumentum stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $64.91, for a total transaction of $129,820.00. Following the completion of the sale, the insider now directly owns 15,332 shares of the company’s stock, valued at approximately $995,200.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,690 shares of company stock valued at $670,238. 0.76% of the stock is currently owned by insiders.

LITE has been the subject of several research analyst reports. BidaskClub lowered shares of Lumentum from a “buy” rating to a “hold” rating in a report on Wednesday, May 23rd. JPMorgan Chase & Co. lifted their target price on shares of Lumentum from $74.00 to $78.00 and gave the company a “hold” rating in a report on Wednesday, May 23rd. Rosenblatt Securities reiterated a “buy” rating and set a $80.00 target price on shares of Lumentum in a report on Tuesday, June 5th. Goldman Sachs Group upgraded shares of Lumentum from a “neutral” rating to a “buy” rating and set a $79.00 target price for the company in a report on Wednesday, June 20th. Finally, Craig Hallum set a $85.00 target price on shares of Lumentum and gave the company a “buy” rating in a report on Monday, July 9th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $80.20.

About Lumentum

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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