Alpine Woods Capital Investors LLC increased its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 149.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,006 shares of the technology company’s stock after acquiring an additional 6,000 shares during the period. Alpine Woods Capital Investors LLC’s holdings in Lumentum were worth $544,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in Lumentum by 71.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,662,272 shares of the technology company’s stock worth $151,883,000 after purchasing an additional 1,107,107 shares during the period. Columbus Circle Investors bought a new stake in shares of Lumentum during the 2nd quarter valued at $34,743,000. Artemis Investment Management LLP grew its position in shares of Lumentum by 676.1% during the 3rd quarter. Artemis Investment Management LLP now owns 672,022 shares of the technology company’s stock valued at $36,541,000 after acquiring an additional 585,432 shares during the period. BlackRock Inc. grew its position in shares of Lumentum by 7.0% during the 2nd quarter. BlackRock Inc. now owns 6,889,157 shares of the technology company’s stock valued at $393,025,000 after acquiring an additional 448,077 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC grew its position in shares of Lumentum by 23.4% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 2,099,760 shares of the technology company’s stock valued at $119,791,000 after acquiring an additional 397,622 shares during the period. Institutional investors own 95.70% of the company’s stock.
A number of equities research analysts have recently issued reports on LITE shares. Zacks Investment Research raised shares of Lumentum from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Friday, November 3rd. Stifel Nicolaus restated a “buy” rating and set a $73.00 target price on shares of Lumentum in a research note on Thursday, September 7th. DA Davidson boosted their price target on shares of Lumentum from $82.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. MKM Partners boosted their price target on shares of Lumentum to $71.00 and gave the stock a “neutral” rating in a research note on Thursday, November 2nd. Finally, Rosenblatt Securities set a $75.00 price target on shares of Lumentum and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $68.06.
In other Lumentum news, Director Martin A. Kaplan sold 3,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $55.03, for a total value of $165,090.00. Following the completion of the transaction, the director now owns 26,573 shares of the company’s stock, valued at $1,462,312.19. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Aaron Tachibana sold 1,248 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $60.00, for a total transaction of $74,880.00. Following the completion of the sale, the chief financial officer now owns 69,830 shares in the company, valued at approximately $4,189,800. The disclosure for this sale can be found here. Insiders have sold 65,891 shares of company stock valued at $3,675,432 in the last three months. 0.76% of the stock is currently owned by corporate insiders.
Lumentum Holdings Inc. (NASDAQ LITE) traded up $2.15 during trading hours on Thursday, reaching $48.55. 3,527,103 shares of the company were exchanged, compared to its average volume of 1,826,840. Lumentum Holdings Inc. has a 12 month low of $34.15 and a 12 month high of $68.63. The company has a debt-to-equity ratio of 0.50, a current ratio of 5.21 and a quick ratio of 4.38. The stock has a market capitalization of $2,923.30, a PE ratio of 32.97, a price-to-earnings-growth ratio of 0.86 and a beta of 0.83.
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Lumentum Holdings Inc is a provider of optical and photonic products for a range of end market applications, including data communications (Datacom) and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Company operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers).
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