Lumentum Holdings Inc. (NASDAQ:LITE) Shares Purchased by Quarry LP

Quarry LP lifted its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 85.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 436 shares of the technology company’s stock after buying an additional 201 shares during the quarter. Quarry LP’s holdings in Lumentum were worth $28,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Signaturefd LLC lifted its holdings in shares of Lumentum by 13.8% in the 3rd quarter. Signaturefd LLC now owns 1,302 shares of the technology company’s stock valued at $83,000 after purchasing an additional 158 shares during the last quarter. Arizona State Retirement System lifted its stake in Lumentum by 2.5% in the second quarter. Arizona State Retirement System now owns 18,868 shares of the technology company’s stock valued at $961,000 after buying an additional 455 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Lumentum in the third quarter valued at approximately $33,000. GAMMA Investing LLC grew its position in shares of Lumentum by 141.6% during 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. Finally, State of Alaska Department of Revenue increased its holdings in shares of Lumentum by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 7,848 shares of the technology company’s stock valued at $497,000 after acquiring an additional 535 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Lumentum Stock Up 2.9 %

Shares of NASDAQ:LITE opened at $90.75 on Friday. The company has a quick ratio of 4.04, a current ratio of 5.36 and a debt-to-equity ratio of 2.87. The company has a market capitalization of $6.23 billion, a P/E ratio of -10.96 and a beta of 0.95. Lumentum Holdings Inc. has a 52-week low of $38.28 and a 52-week high of $95.92. The stock’s fifty day simple moving average is $76.94 and its 200-day simple moving average is $61.02.

Insider Buying and Selling at Lumentum

In related news, insider Vincent Retort sold 41,710 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 147,515 shares of the company’s stock, valued at approximately $13,205,542.80. This represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Wajid Ali sold 29,887 shares of Lumentum stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $85.06, for a total transaction of $2,542,188.22. Following the completion of the sale, the chief financial officer now directly owns 56,492 shares of the company’s stock, valued at $4,805,209.52. The trade was a 34.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,797 shares of company stock worth $8,881,428. Corporate insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Jefferies Financial Group lifted their target price on Lumentum from $53.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Rosenblatt Securities upped their price objective on shares of Lumentum from $69.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Bank of America lifted their target price on shares of Lumentum from $45.00 to $50.00 and gave the company an “underperform” rating in a report on Thursday, August 15th. Needham & Company LLC raised their price objective 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. Finally, Susquehanna increased their target price on Lumentum from $80.00 to $115.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Lumentum has an average rating of “Hold” and an average target price of $74.85.

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. 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.