NWQ Investment Management Company LLC Cuts Holdings in Lumentum Holdings Inc. (LITE)

NWQ Investment Management Company LLC lessened its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 3.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,788 shares of the technology company’s stock after selling 2,841 shares during the period. NWQ Investment Management Company LLC owned approximately 0.14% of Lumentum worth $4,771,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Allianz Asset Management GmbH grew its stake in Lumentum by 17.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,231,582 shares of the technology company’s stock worth $66,937,000 after buying an additional 180,426 shares in the last quarter. B. Riley Financial Inc. grew its stake in Lumentum by 31.4% in the 3rd quarter. B. Riley Financial Inc. now owns 23,349 shares of the technology company’s stock worth $1,287,000 after buying an additional 5,574 shares in the last quarter. Cramer Rosenthal Mcglynn LLC grew its stake in Lumentum by 51.5% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 1,139,914 shares of the technology company’s stock worth $61,954,000 after buying an additional 387,290 shares in the last quarter. Pier Capital LLC purchased a new position in Lumentum in the 3rd quarter worth approximately $6,594,000. Finally, Stifel Financial Corp grew its stake in Lumentum by 24.9% in the 3rd quarter. Stifel Financial Corp now owns 9,084 shares of the technology company’s stock worth $490,000 after buying an additional 1,813 shares in the last quarter. 95.70% of the stock is owned by institutional investors and hedge funds.

In related news, COO Vincent Retort sold 30,706 shares of the company’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $54.46, for a total transaction of $1,672,248.76. Following the completion of the sale, the chief operating officer now directly owns 110,770 shares in the company, valued at approximately $6,032,534.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Aaron Tachibana sold 1,248 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $60.00, for a total transaction of $74,880.00. Following the sale, the chief financial officer now owns 69,830 shares of the company’s stock, valued at $4,189,800. The disclosure for this sale can be found here. Insiders have sold a total of 65,891 shares of company stock valued at $3,675,432 over the last quarter. 0.76% of the stock is currently owned by company insiders.

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) opened at $49.60 on Friday. Lumentum Holdings Inc. has a 1-year low of $34.15 and a 1-year high of $68.63. The company has a current ratio of 5.21, a quick ratio of 4.38 and a debt-to-equity ratio of 0.50. The company has a market cap of $2,876.80, a price-to-earnings ratio of 32.45, a P/E/G ratio of 0.85 and a beta of 0.83.

A number of equities research analysts have recently weighed in on the stock. B. Riley restated a “buy” rating and issued a $81.00 price objective on shares of Lumentum in a report on Thursday, September 14th. Stifel Nicolaus restated a “buy” rating and issued a $73.00 price objective on shares of Lumentum in a report on Thursday, September 7th. Piper Jaffray Companies restated a “buy” rating and issued a $68.00 price objective on shares of Lumentum in a report on Monday, October 9th. Jefferies Group restated a “buy” rating and issued a $75.00 price objective on shares of Lumentum in a report on Friday, October 6th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $75.00 price objective (up from $70.00) on shares of Lumentum in a report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $68.06.

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About Lumentum

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).

Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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