Mutual of America Capital Management LLC Has $1.97 Million Stock Position in Lumentum Holdings Inc. (NASDAQ:LITE)

Mutual of America Capital Management LLC lessened its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 3.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,706 shares of the technology company’s stock after selling 1,452 shares during the quarter. Mutual of America Capital Management LLC owned 0.06% of Lumentum worth $1,971,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bridge City Capital LLC grew its position in shares of Lumentum by 0.7% during the 1st quarter. Bridge City Capital LLC now owns 32,607 shares of the technology company’s stock worth $1,544,000 after purchasing an additional 242 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Lumentum by 1.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 14,587 shares of the technology company’s stock worth $691,000 after acquiring an additional 260 shares during the period. Mcdonald Partners LLC raised its holdings in Lumentum by 1.6% in the 2nd quarter. Mcdonald Partners LLC now owns 19,830 shares of the technology company’s stock valued at $1,010,000 after acquiring an additional 318 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Lumentum by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 18,868 shares of the technology company’s stock valued at $961,000 after acquiring an additional 455 shares during the period. Finally, Texas Permanent School Fund Corp grew its holdings in shares of Lumentum by 0.9% during the 1st quarter. Texas Permanent School Fund Corp now owns 58,259 shares of the technology company’s stock worth $2,759,000 after purchasing an additional 496 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Craig Hallum boosted their target price on shares of Lumentum from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Bank of America boosted their price objective on shares of Lumentum from $45.00 to $50.00 and gave the company an “underperform” rating in a research report on Thursday, August 15th. Susquehanna raised their target price on Lumentum from $60.00 to $70.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Jefferies Financial Group boosted their price target on Lumentum from $53.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, Rosenblatt Securities raised their price objective on Lumentum from $65.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $59.08.

Lumentum Stock Performance

NASDAQ:LITE opened at $60.95 on Thursday. The company has a debt-to-equity ratio of 2.61, a quick ratio of 4.43 and a current ratio of 5.90. Lumentum Holdings Inc. has a fifty-two week low of $35.35 and a fifty-two week high of $62.21. The company has a 50 day simple moving average of $53.09 and a two-hundred day simple moving average of $49.31. The company has a market capitalization of $4.14 billion, a PE ratio of -11.61, a P/E/G ratio of 4.83 and a beta of 0.88.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Wednesday, August 14th. The technology company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. The company had revenue of $308.30 million during the quarter, compared to analysts’ expectations of $301.36 million. Lumentum had a negative net margin of 40.21% and a negative return on equity of 4.79%. Lumentum’s revenue for the quarter was down 16.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.12 earnings per share. Research analysts anticipate that Lumentum Holdings Inc. will post 0.22 earnings per share for the current year.

Lumentum Profile

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 through 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.