Cetera Advisor Networks LLC Invests $729,000 in Lumentum Holdings Inc. (NASDAQ:LITE)

Cetera Advisor Networks LLC acquired a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITEGet Rating) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,474 shares of the technology company’s stock, valued at approximately $729,000.

Other large investors also recently made changes to their positions in the company. Greenleaf Trust grew its position in Lumentum by 2.3% in the first quarter. Greenleaf Trust now owns 5,417 shares of the technology company’s stock valued at $529,000 after purchasing an additional 124 shares in the last quarter. AE Wealth Management LLC grew its position in Lumentum by 6.2% in the first quarter. AE Wealth Management LLC now owns 2,951 shares of the technology company’s stock valued at $288,000 after purchasing an additional 173 shares in the last quarter. Green Alpha Advisors LLC grew its position in Lumentum by 1.8% in the first quarter. Green Alpha Advisors LLC now owns 12,979 shares of the technology company’s stock valued at $1,267,000 after purchasing an additional 234 shares in the last quarter. Louisiana State Employees Retirement System grew its position in Lumentum by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the technology company’s stock valued at $1,662,000 after purchasing an additional 300 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in Lumentum by 122.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 557 shares of the technology company’s stock valued at $58,000 after purchasing an additional 307 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LITE. Barclays cut their price target on shares of Lumentum from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, July 25th. Craig Hallum increased their price target on shares of Lumentum to $125.00 in a research note on Monday, August 15th. JPMorgan Chase & Co. cut their price target on shares of Lumentum from $115.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, July 14th. Morgan Stanley increased their price target on shares of Lumentum from $94.00 to $98.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 17th. Finally, StockNews.com lowered shares of Lumentum from a “buy” rating to a “hold” rating in a research report on Saturday. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Lumentum presently has an average rating of “Moderate Buy” and an average price target of $111.75.

Insider Activity at Lumentum

In related news, CFO Wajid Ali sold 8,781 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $92.47, for a total transaction of $811,979.07. Following the completion of the transaction, the chief financial officer now owns 31,194 shares of the company’s stock, valued at approximately $2,884,509.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Lumentum news, CEO Alan S. Lowe sold 8,809 shares of Lumentum stock in a transaction on Monday, August 15th. The stock was sold at an average price of $94.94, for a total value of $836,326.46. Following the completion of the sale, the chief executive officer now owns 139,946 shares of the company’s stock, valued at approximately $13,286,473.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Wajid Ali sold 8,781 shares of Lumentum stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $92.47, for a total value of $811,979.07. Following the completion of the sale, the chief financial officer now directly owns 31,194 shares of the company’s stock, valued at approximately $2,884,509.18. The disclosure for this sale can be found here. Insiders sold a total of 20,620 shares of company stock valued at $1,909,492 in the last 90 days. Corporate insiders own 0.30% of the company’s stock.

Lumentum Price Performance

Shares of Lumentum stock opened at $78.44 on Wednesday. The company has a current ratio of 4.38, a quick ratio of 4.03 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $5.34 billion, a PE ratio of 29.38 and a beta of 0.94. The business’s 50-day moving average price is $85.74 and its 200-day moving average price is $88.12. Lumentum Holdings Inc. has a 12 month low of $73.97 and a 12 month high of $108.90.

Lumentum (NASDAQ:LITEGet Rating) last released its quarterly earnings data on Tuesday, August 16th. The technology company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.08. Lumentum had a return on equity of 18.66% and a net margin of 11.61%. The business had revenue of $422.10 million during the quarter, compared to analysts’ expectations of $417.99 million. During the same quarter last year, the business posted $0.84 EPS. The business’s revenue was up 7.7% on a year-over-year basis. Sell-side analysts forecast that Lumentum Holdings Inc. will post 4.93 EPS for the current fiscal year.

Lumentum Company Profile

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

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Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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