Oregon Public Employees Retirement Fund Sells 600 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Oregon Public Employees Retirement Fund trimmed its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITEGet Rating) by 2.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,156 shares of the technology company’s stock after selling 600 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Lumentum were worth $1,382,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Whale Rock Capital Management LLC bought a new stake in shares of Lumentum in the 2nd quarter valued at $68,549,000. Dimensional Fund Advisors LP boosted its stake in shares of Lumentum by 7.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 805,662 shares of the technology company’s stock valued at $78,633,000 after purchasing an additional 53,978 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Lumentum by 35.5% in the 1st quarter. Northern Trust Corp now owns 801,223 shares of the technology company’s stock valued at $78,198,000 after purchasing an additional 209,728 shares during the last quarter. Earnest Partners LLC boosted its stake in shares of Lumentum by 576.4% in the 1st quarter. Earnest Partners LLC now owns 680,435 shares of the technology company’s stock valued at $66,410,000 after purchasing an additional 579,835 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Lumentum by 3.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 642,701 shares of the technology company’s stock valued at $62,728,000 after purchasing an additional 20,036 shares during the last quarter. 92.46% of the stock is owned by institutional investors.

Lumentum Stock Performance

Shares of LITE stock opened at $58.84 on Friday. The firm has a 50-day moving average of $54.36 and a 200-day moving average of $70.26. The company has a market cap of $4.01 billion, a P/E ratio of 37.24, a P/E/G ratio of 2.34 and a beta of 0.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.04 and a quick ratio of 2.58. Lumentum Holdings Inc. has a one year low of $48.73 and a one year high of $105.05.

Lumentum (NASDAQ:LITEGet Rating) last posted its quarterly earnings data on Tuesday, November 8th. The technology company reported $1.19 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $505.55 million. Equities research analysts forecast that Lumentum Holdings Inc. will post 3.14 EPS for the current fiscal year.

Analysts Set New Price Targets

LITE has been the topic of a number of analyst reports. Stifel Nicolaus initiated coverage on shares of Lumentum in a research note on Thursday, December 1st. They issued a “buy” rating and a $68.00 price objective on the stock. Raymond James cut their target price on shares of Lumentum from $107.00 to $85.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 9th. Susquehanna cut their target price on shares of Lumentum from $100.00 to $85.00 in a research note on Wednesday, November 9th. TheStreet lowered shares of Lumentum from a “b-” rating to a “c” rating in a research note on Tuesday, November 8th. Finally, Rosenblatt Securities lowered their price objective on shares of Lumentum from $80.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lumentum has an average rating of “Moderate Buy” and an average price target of $72.21.

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.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

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Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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