Copper Rock Capital Partners LLC decreased its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 0.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 763,171 shares of the company’s stock after selling 7,080 shares during the period. Lumentum Holdings comprises about 2.0% of Copper Rock Capital Partners LLC’s investment portfolio, making the stock its 12th largest position. Copper Rock Capital Partners LLC owned 1.27% of Lumentum Holdings worth $31,565,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Legal & General Group Plc raised its position in Lumentum Holdings by 133.1% in the first quarter. Legal & General Group Plc now owns 4,109 shares of the company’s stock worth $111,000 after buying an additional 2,346 shares during the period. PineBridge Investments L.P. raised its position in Lumentum Holdings by 4.1% in the second quarter. PineBridge Investments L.P. now owns 6,015 shares of the company’s stock worth $146,000 after buying an additional 239 shares during the period. Teacher Retirement System of Texas raised its position in Lumentum Holdings by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 6,581 shares of the company’s stock worth $159,000 after buying an additional 799 shares during the period. Pacad Investment Ltd. bought a new position in Lumentum Holdings during the second quarter worth $160,000. Finally, ProShare Advisors LLC bought a new position in Lumentum Holdings during the second quarter worth $214,000. Hedge funds and other institutional investors own 74.97% of the company’s stock.

Institutional Ownership by Quarter for Lumentum Holdings (NASDAQ:LITE)

Lumentum Holdings Inc. (NASDAQ:LITE) traded up 1.71% during trading on Thursday, reaching $44.11. The company had a trading volume of 235,891 shares. The firm’s 50 day moving average is $37.76 and its 200-day moving average is $29.01. Lumentum Holdings Inc. has a 12 month low of $13.97 and a 12 month high of $44.17. The company’s market capitalization is $2.65 billion.

Lumentum Holdings (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.05. The company earned $241.70 million during the quarter, compared to the consensus estimate of $238.52 million. Lumentum Holdings had a return on equity of 11.91% and a net margin of 1.01%. Lumentum Holdings’s revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 earnings per share. On average, equities analysts expect that Lumentum Holdings Inc. will post $1.87 earnings per share for the current year.

A number of equities analysts have weighed in on LITE shares. Piper Jaffray Cos. reissued an “overweight” rating and set a $38.00 price objective on shares of Lumentum Holdings in a research note on Wednesday, September 7th. MKM Partners boosted their price objective on Lumentum Holdings from $37.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, September 26th. Jefferies Group boosted their price objective on Lumentum Holdings from $39.00 to $51.50 and gave the stock a “buy” rating in a research note on Monday. Needham & Company LLC reissued a “buy” rating and set a $35.00 price objective on shares of Lumentum Holdings in a research note on Wednesday, June 15th. Finally, Zacks Investment Research raised Lumentum Holdings from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective on the stock in a research note on Tuesday, August 16th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $38.54.

In other news, COO Vincent Retort sold 4,643 shares of Lumentum Holdings stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $41.84, for a total value of $194,263.12. Following the completion of the sale, the chief operating officer now owns 69,170 shares of the company’s stock, valued at $2,894,072.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Alan S. Lowe sold 174,222 shares of Lumentum Holdings stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $34.03, for a total value of $5,928,774.66. Following the completion of the sale, the chief executive officer now directly owns 38,880 shares of the company’s stock, valued at approximately $1,323,086.40. The disclosure for this sale can be found here. Company insiders own 0.76% of the company’s stock.

About Lumentum Holdings

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).

5 Day Chart for NASDAQ:LITE

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