Strs Ohio Acquires 962 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Strs Ohio grew its position in Lumentum Holdings Inc. (NASDAQ:LITEGet Rating) by 7.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,348 shares of the technology company’s stock after buying an additional 962 shares during the period. Strs Ohio’s holdings in Lumentum were worth $915,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in LITE. Urban Wealth Management LLC bought a new stake in Lumentum during the 2nd quarter worth about $29,000. Assetmark Inc. bought a new position in Lumentum in the 2nd quarter valued at about $30,000. Private Trust Co. NA grew its position in shares of Lumentum by 187.7% during the 3rd quarter. Private Trust Co. NA now owns 397 shares of the technology company’s stock worth $27,000 after purchasing an additional 259 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new position in shares of Lumentum during the 2nd quarter worth approximately $46,000. Finally, CWM LLC grew its position in shares of Lumentum by 184.5% during the 2nd quarter. CWM LLC now owns 623 shares of the technology company’s stock worth $49,000 after purchasing an additional 404 shares in the last quarter. Institutional investors and hedge funds own 92.46% of the company’s stock.

Lumentum Price Performance

Lumentum stock opened at $57.58 on Friday. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 36.44, a PEG ratio of 2.33 and a beta of 0.93. The firm’s fifty day moving average is $54.50 and its 200 day moving average is $70.96. The company has a quick ratio of 2.58, a current ratio of 3.04 and a debt-to-equity ratio of 1.24. Lumentum Holdings Inc. has a 52-week low of $48.73 and a 52-week high of $106.65.

Lumentum (NASDAQ:LITEGet Rating) last posted its quarterly earnings data on Tuesday, November 8th. The technology company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. Lumentum had a net margin of 6.61% and a return on equity of 17.99%. The business had revenue of $506.80 million for the quarter, compared to analysts’ expectations of $505.55 million. Sell-side analysts forecast that Lumentum Holdings Inc. will post 3.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Bank of America lowered shares of Lumentum from a “buy” rating to a “neutral” rating and cut their target price for the company from $84.00 to $62.00 in a research report on Friday, November 11th. Susquehanna decreased their price target on shares of Lumentum from $100.00 to $85.00 in a research note on Wednesday, November 9th. Needham & Company LLC reduced their price objective on shares of Lumentum from $125.00 to $72.00 and set a “buy” rating for the company in a report on Wednesday, November 9th. Susquehanna Bancshares cut their price target on shares of Lumentum from $100.00 to $85.00 in a report on Wednesday, November 9th. Finally, Northland Securities reaffirmed a “market perform” rating and issued a $55.00 price objective (down previously from $120.00) on shares of Lumentum in a research report on Wednesday, November 9th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.64.

About Lumentum

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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.It offers tunable transponders, transceivers, and transmitter modules; tunable lasers, receivers, and modulators; transport products, such as reconfigurable optical add/drop multiplexers, amplifiers, and optical channel monitors, as well as components, including 980nm, multi-mode, and Raman pumps; and switches, attenuators, photodetectors, gain flattening filters, isolators, wavelength-division multiplexing filters, arrayed waveguide gratings, multiplex/de-multiplexers, and integrated passive modules.

See Also

Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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