Creative Planning Buys Shares of 3,655 Lumentum Holdings Inc (LITE)

Creative Planning bought a new stake in shares of Lumentum Holdings Inc (NASDAQ:LITE) in the 1st quarter, HoldingsChannel.com reports. The fund bought 3,655 shares of the technology company’s stock, valued at approximately $207,000.

A number of other large investors have also bought and sold shares of the business. Meeder Asset Management Inc. purchased a new stake in shares of Lumentum during the fourth quarter worth about $25,000. Sapphire Star Partners LP purchased a new stake in shares of Lumentum during the fourth quarter worth about $28,000. Oregon Public Employees Retirement Fund grew its holdings in shares of Lumentum by 4,834.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,231,145 shares of the technology company’s stock worth $29,000 after buying an additional 1,206,194 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Lumentum by 121.7% during the fourth quarter. IFP Advisors Inc now owns 949 shares of the technology company’s stock worth $39,000 after buying an additional 521 shares in the last quarter. Finally, SevenBridge Financial Group LLC purchased a new stake in shares of Lumentum during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 88.11% of the company’s stock.

A number of equities research analysts have recently commented on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $70.00 price target on shares of Lumentum in a report on Friday, March 29th. Northland Securities reiterated a “buy” rating and set a $70.00 price target on shares of Lumentum in a report on Monday, April 22nd. DA Davidson reiterated a “buy” rating and set a $90.00 price target on shares of Lumentum in a report on Monday, May 6th. Rosenblatt Securities reiterated a “buy” rating and set a $80.00 price target on shares of Lumentum in a report on Tuesday, May 7th. Finally, Piper Jaffray Companies lifted their price target on shares of Lumentum to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $70.37.



LITE opened at $57.35 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.24 and a current ratio of 3.96. Lumentum Holdings Inc has a 1 year low of $37.00 and a 1 year high of $69.95. The company has a market capitalization of $4.54 billion, a P/E ratio of 17.70, a P/E/G ratio of 1.14 and a beta of 0.68.

Lumentum (NASDAQ:LITE) last released its earnings results on Tuesday, May 7th. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.22. Lumentum had a net margin of 1.57% and a return on equity of 19.94%. The business had revenue of $433.00 million for the quarter, compared to analysts’ expectations of $428.33 million. During the same period last year, the company earned $0.78 earnings per share. The company’s quarterly revenue was up 44.8% on a year-over-year basis. As a group, equities research analysts anticipate that Lumentum Holdings Inc will post 3.27 EPS for the current year.

In other Lumentum news, Director Harold L. Covert sold 3,017 shares of Lumentum stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $46.01, for a total transaction of $138,812.17. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $920,200. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Judy G. Hamel sold 1,429 shares of Lumentum stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $58.64, for a total transaction of $83,796.56. Following the transaction, the senior vice president now directly owns 44,793 shares in the company, valued at $2,626,661.52. The disclosure for this sale can be found here. Insiders sold 17,046 shares of company stock worth $852,375 over the last three months. Corporate insiders own 0.55% of the company’s stock.

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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 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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