Xact Kapitalforvaltning AB Takes $293,000 Position in Lumentum Holdings Inc (LITE)

Xact Kapitalforvaltning AB bought a new position in Lumentum Holdings Inc (NASDAQ:LITE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,002 shares of the technology company’s stock, valued at approximately $293,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. OppenheimerFunds Inc. grew its holdings in shares of Lumentum by 7.7% in the 4th quarter. OppenheimerFunds Inc. now owns 13,675 shares of the technology company’s stock worth $669,000 after acquiring an additional 974 shares during the last quarter. Tyers Asset Management LLC grew its holdings in shares of Lumentum by 26.6% in the 4th quarter. Tyers Asset Management LLC now owns 4,720 shares of the technology company’s stock worth $231,000 after acquiring an additional 992 shares during the last quarter. Virginia Retirement Systems ET AL grew its holdings in shares of Lumentum by 22.9% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 5,900 shares of the technology company’s stock worth $321,000 after acquiring an additional 1,100 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Lumentum by 42.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,797 shares of the technology company’s stock worth $186,000 after acquiring an additional 1,135 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in shares of Lumentum by 6.9% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 18,660 shares of the technology company’s stock worth $912,000 after acquiring an additional 1,200 shares during the last quarter.

A number of equities analysts recently issued reports on LITE shares. Zacks Investment Research cut Lumentum from a “hold” rating to a “sell” rating in a report on Saturday, January 27th. BidaskClub upgraded Lumentum from a “sell” rating to a “hold” rating in a report on Saturday, January 13th. DA Davidson lifted their price target on Lumentum to $101.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. B. Riley reiterated a “buy” rating and set a $89.00 price target on shares of Lumentum in a report on Friday, January 5th. Finally, Morgan Stanley set a $60.00 price target on Lumentum and gave the company a “hold” rating in a report on Friday, March 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $81.38.



In related news, COO Vincent Retort sold 12,111 shares of Lumentum stock in a transaction on Monday, March 12th. The stock was sold at an average price of $71.00, for a total transaction of $859,881.00. Following the completion of the sale, the chief operating officer now owns 77,318 shares of the company’s stock, valued at $5,489,578. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Judy G. Hamel sold 2,000 shares of Lumentum stock in a transaction on Monday, March 12th. The shares were sold at an average price of $71.00, for a total value of $142,000.00. Following the sale, the general counsel now directly owns 26,773 shares of the company’s stock, valued at approximately $1,900,883. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,150 shares of company stock valued at $3,800,816. Insiders own 0.76% of the company’s stock.

LITE opened at $63.50 on Thursday. The firm has a market cap of $3,647.87, a P/E ratio of 39.94, a PEG ratio of 1.13 and a beta of -0.08. Lumentum Holdings Inc has a 1 year low of $40.35 and a 1 year high of $74.40. The company has a quick ratio of 4.16, a current ratio of 4.84 and a debt-to-equity ratio of 0.38.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.67. The firm had revenue of $404.60 million during the quarter, compared to analysts’ expectations of $357.03 million. Lumentum had a return on equity of 24.06% and a net margin of 8.97%. The business’s revenue for the quarter was up 52.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 earnings per share. analysts predict that Lumentum Holdings Inc will post 2.82 earnings per share for the current year.

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Lumentum Company Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. It operates through two segments, Optical Communications and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.

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Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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