Victory Capital Management Inc. Has $798,000 Position in Lumentum Holdings Inc. (NASDAQ:LITE)

Victory Capital Management Inc. reduced its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 9.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,596 shares of the technology company’s stock after selling 1,248 shares during the quarter. Victory Capital Management Inc.’s holdings in Lumentum were worth $798,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LITE. Capital Performance Advisors LLP acquired a new stake in Lumentum during the 3rd quarter valued at $33,000. Point72 DIFC Ltd acquired a new position in shares of Lumentum in the second quarter worth $36,000. GAMMA Investing LLC increased its stake in shares of Lumentum by 141.6% in the third quarter. GAMMA Investing LLC now owns 894 shares of the technology company’s stock worth $57,000 after acquiring an additional 524 shares during the last quarter. Signaturefd LLC increased its stake in shares of Lumentum by 93.9% in the second quarter. Signaturefd LLC now owns 1,144 shares of the technology company’s stock worth $58,000 after acquiring an additional 554 shares during the last quarter. Finally, nVerses Capital LLC increased its stake in shares of Lumentum by 416.7% in the second quarter. nVerses Capital LLC now owns 3,100 shares of the technology company’s stock worth $158,000 after acquiring an additional 2,500 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lumentum

In other Lumentum news, insider Vincent Retort sold 41,710 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.52, for a total transaction of $3,733,879.20. Following the completion of the sale, the insider now directly owns 147,515 shares in the company, valued at $13,205,542.80. This represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Julia Suzanne Johnson sold 2,058 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $85.82, for a total transaction of $176,617.56. Following the sale, the director now owns 23,287 shares of the company’s stock, valued at $1,998,490.34. This trade represents a 8.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,910 shares of company stock worth $6,339,239 over the last ninety days. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

LITE has been the topic of a number of research reports. B. Riley upped their price target on shares of Lumentum from $40.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Susquehanna upped their price target on shares of Lumentum from $80.00 to $115.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Needham & Company LLC upped their price target on shares of Lumentum from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Morgan Stanley upped their price target on shares of Lumentum from $61.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Finally, Raymond James upped their price objective on shares of Lumentum from $70.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $74.85.

Lumentum Stock Down 3.7 %

LITE stock opened at $83.77 on Thursday. The company has a debt-to-equity ratio of 2.87, a current ratio of 5.36 and a quick ratio of 4.04. Lumentum Holdings Inc. has a 52-week low of $38.28 and a 52-week high of $91.21. The company has a 50-day moving average of $70.61 and a two-hundred day moving average of $57.60. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of -10.06 and a beta of 0.88.

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.