Mutual of America Capital Management LLC Has $2.58 Million Position in Lumentum Holdings Inc. (NASDAQ:LITE)

Mutual of America Capital Management LLC reduced its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 22.1% 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 47,389 shares of the technology company’s stock after selling 13,465 shares during the quarter. Mutual of America Capital Management LLC owned about 0.08% of Lumentum Holdings worth $2,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Lord Abbett & CO. LLC boosted its stake in Lumentum Holdings by 169.4% during the second quarter. Lord Abbett & CO. LLC now owns 584,992 shares of the technology company’s stock worth $33,374,000 after buying an additional 367,860 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Lumentum Holdings during the second quarter worth $311,000. WINTON GROUP Ltd lifted its position in shares of Lumentum Holdings by 28.4% during the second quarter. WINTON GROUP Ltd now owns 25,319 shares of the technology company’s stock worth $1,444,000 after purchasing an additional 5,594 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Lumentum Holdings by 2,773.3% during the second quarter. Public Employees Retirement System of Ohio now owns 51,576 shares of the technology company’s stock worth $2,942,000 after purchasing an additional 49,781 shares during the last quarter. Finally, Piedmont Investment Advisors LLC bought a new stake in shares of Lumentum Holdings during the second quarter worth $686,000. 95.69% of the stock is owned by institutional investors and hedge funds.

In other Lumentum Holdings news, CEO Alan S. Lowe sold 4,364 shares of Lumentum Holdings stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $54.59, for a total value of $238,230.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $416,539.92. Following the completion of the sale, the chief executive officer now owns 141,162 shares in the company, valued at $7,427,944.44. The disclosure for this sale can be found here. Insiders have sold a total of 100,956 shares of company stock worth $5,388,935 in the last three months. Corporate insiders own 0.76% of the company’s stock.

Several analysts recently weighed in on LITE shares. Zacks Investment Research downgraded Lumentum Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. BidaskClub downgraded Lumentum Holdings from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. Barclays PLC boosted their target price on shares of Lumentum Holdings from $59.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. Needham & Company LLC reiterated a “strong-buy” rating and issued a $80.00 target price on shares of Lumentum Holdings in a report on Wednesday, September 6th. Finally, B. Riley reiterated a “buy” rating and issued a $81.00 target price on shares of Lumentum Holdings in a report on Thursday, September 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $68.06.

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Shares of Lumentum Holdings Inc. (NASDAQ LITE) traded up $0.50 during trading on Tuesday, reaching $57.65. The company had a trading volume of 828,000 shares, compared to its average volume of 1,823,905. The company has a quick ratio of 4.38, a current ratio of 5.21 and a debt-to-equity ratio of 0.50. Lumentum Holdings Inc. has a 12 month low of $34.15 and a 12 month high of $68.63. The stock has a market cap of $3,460.00 and a PE ratio of 39.97.

Lumentum Holdings 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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