Lumentum Holdings Inc. (LITE) Shares Bought by Voya Investment Management LLC

Voya Investment Management LLC grew its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 30.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,243 shares of the technology company’s stock after buying an additional 6,537 shares during the quarter. Voya Investment Management LLC’s holdings in Lumentum Holdings were worth $1,611,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of LITE. Riverhead Capital Management LLC grew its stake in Lumentum Holdings by 71.8% during the second quarter. Riverhead Capital Management LLC now owns 2,062 shares of the technology company’s stock worth $118,000 after buying an additional 862 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Lumentum Holdings by 111.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,662 shares of the technology company’s stock worth $152,000 after buying an additional 1,406 shares during the last quarter. Creative Planning grew its stake in Lumentum Holdings by 54.2% during the second quarter. Creative Planning now owns 3,039 shares of the technology company’s stock worth $173,000 after buying an additional 1,068 shares during the last quarter. LS Investment Advisors LLC grew its stake in Lumentum Holdings by 2.1% during the second quarter. LS Investment Advisors LLC now owns 3,569 shares of the technology company’s stock worth $204,000 after buying an additional 75 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in Lumentum Holdings during the first quarter worth about $206,000. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have weighed in on the stock. B. Riley reaffirmed a “buy” rating and set a $77.00 price objective (up from $58.00) on shares of Lumentum Holdings in a research note on Tuesday, June 27th. Barclays PLC upped their price objective on shares of Lumentum Holdings from $50.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $68.00 price objective on shares of Lumentum Holdings in a research note on Thursday, August 10th. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $80.00 price objective on shares of Lumentum Holdings in a research note on Thursday, August 10th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $72.00 price objective (up from $63.00) on shares of Lumentum Holdings in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $66.31.

In related news, CEO Alan S. Lowe sold 7,916 shares of Lumentum Holdings stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $52.62, for a total transaction of $416,539.92. Following the sale, the chief executive officer now directly owns 141,162 shares of the company’s stock, valued at approximately $7,427,944.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Alan S. Lowe sold 28,095 shares of Lumentum Holdings stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $51.20, for a total transaction of $1,438,464.00. Following the sale, the chief executive officer now directly owns 249,655 shares in the company, valued at $12,782,336. The disclosure for this sale can be found here. Insiders have sold a total of 87,269 shares of company stock worth $4,602,526 over the last ninety days. 0.76% of the stock is currently owned by insiders.

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Lumentum Holdings Inc. (LITE) opened at 56.05 on Friday. Lumentum Holdings Inc. has a 12 month low of $32.90 and a 12 month high of $68.63. The stock’s 50 day moving average is $56.45 and its 200-day moving average is $56.45. The firm’s market capitalization is $3.45 billion.

Lumentum Holdings (NASDAQ:LITE) last announced its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.18. The company had revenue of $222.70 million for the quarter, compared to analyst estimates of $229.45 million. Lumentum Holdings had a negative net margin of 10.25% and a positive return on equity of 18.12%. The firm’s revenue was down 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 EPS. Equities analysts anticipate that Lumentum Holdings Inc. will post $3.07 earnings per share for the current fiscal year.

Lumentum Holdings Company Profile

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 Holdings (NASDAQ:LITE)

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