Pathstone Family Office LLC Has $816,000 Position in Lumentum Holdings Inc. (NASDAQ:LITE)

Pathstone Family Office LLC grew its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE – Get Rating) by 7.2% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 11,745 shares of the technology company’s stock after buying an additional 786 shares during the period. Pathstone Family Office LLC’s holdings in Lumentum were worth $816,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in LITE. HighTower Advisors LLC raised its position in shares of Lumentum by 6.7% during the first quarter. HighTower Advisors LLC now owns 5,729 shares of the technology company’s stock valued at $557,000 after buying an additional 358 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Lumentum by 23.3% during the first quarter. Private Advisor Group LLC now owns 5,083 shares of the technology company’s stock valued at $496,000 after buying an additional 960 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Lumentum by 10.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,461 shares of the technology company’s stock valued at $2,583,000 after acquiring an additional 2,490 shares during the period. Great West Life Assurance Co. Can increased its stake in Lumentum by 7.4% in the first quarter. Great West Life Assurance Co. Can now owns 39,147 shares of the technology company’s stock valued at $3,926,000 after acquiring an additional 2,686 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Lumentum by 7.2% in the first quarter. Dimensional Fund Advisors LP now owns 805,662 shares of the technology company’s stock valued at $78,633,000 after acquiring an additional 53,978 shares during the period. Institutional investors and hedge funds own 92.46% of the company’s stock.

Lumentum Trading Down 1.8 %

Shares of NASDAQ LITE opened at $51.54 on Monday. The company’s 50 day simple moving average is $57.15 and its 200 day simple moving average is $63.03. Lumentum Holdings Inc. has a fifty-two week low of $48.73 and a fifty-two week high of $100.22. The firm has a market capitalization of $3.53 billion, a P/E ratio of 139.30, a P/E/G ratio of 1.69 and a beta of 1.10. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.06 and a quick ratio of 2.61.

Lumentum (NASDAQ:LITE – Get Rating) last announced its quarterly earnings data on Thursday, February 9th. The technology company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.20. Lumentum had a net margin of 1.56% and a return on equity of 17.77%. The business had revenue of $506.00 million for the quarter, compared to analyst estimates of $506.13 million. On average, analysts predict that Lumentum Holdings Inc. will post 3.59 EPS for the current year.

Analysts Set New Price Targets

LITE has been the topic of a number of analyst reports. Northland Securities lowered their target price on shares of Lumentum from $65.00 to $57.00 and set a “market perform” rating on the stock in a research note on Friday, February 10th. Stifel Nicolaus initiated coverage on shares of Lumentum in a research note on Thursday, December 1st. They set a “buy” rating and a $68.00 price objective on the stock. Rosenblatt Securities decreased their price objective on shares of Lumentum from $80.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday, January 18th. StockNews.com cut shares of Lumentum from a “buy” rating to a “hold” rating in a research note on Wednesday, November 16th. Finally, Raymond James decreased their price objective on shares of Lumentum from $85.00 to $84.00 and set an “outperform” rating on the stock in a research note on Friday, February 10th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.43.

About Lumentum

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Lumentum Holdings, Inc engages in the provision of optical and photonic products. It operates through the Optical Communications (OpComms) and Commercial Lasers segments. The OpComms segment includes a range of components, modules, and subsystems to support customers including carrier networks of access (local), metro (intracity), long-haul (city-to-city and worldwide), and submarine (undersea) applications.