AXA boosted its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 95.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 663,512 shares of the technology company’s stock after buying an additional 323,975 shares during the period. AXA owned 1.10% of Lumentum Holdings worth $35,398,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in LITE. Riggs Asset Managment Co. Inc. boosted its position in shares of Lumentum Holdings by 0.6% in the first quarter. Riggs Asset Managment Co. Inc. now owns 36,569 shares of the technology company’s stock worth $1,951,000 after buying an additional 229 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Lumentum Holdings by 3.9% in the first quarter. State of Alaska Department of Revenue now owns 6,150 shares of the technology company’s stock worth $328,000 after buying an additional 230 shares during the period. Texas Permanent School Fund boosted its position in shares of Lumentum Holdings by 0.6% in the first quarter. Texas Permanent School Fund now owns 40,160 shares of the technology company’s stock worth $2,143,000 after buying an additional 249 shares during the period. Creative Planning boosted its position in shares of Lumentum Holdings by 15.1% in the first quarter. Creative Planning now owns 1,971 shares of the technology company’s stock worth $105,000 after buying an additional 258 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in shares of Lumentum Holdings by 2.7% in the first quarter. Louisiana State Employees Retirement System now owns 22,620 shares of the technology company’s stock worth $1,207,000 after buying an additional 600 shares during the period. 95.61% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of Lumentum Holdings Inc. (LITE) traded up 2.52% during mid-day trading on Friday, reaching $63.10. 1,932,356 shares of the company traded hands. The firm’s market capitalization is $3.86 billion. Lumentum Holdings Inc. has a 52 week low of $22.04 and a 52 week high of $67.30. The firm has a 50-day moving average price of $55.27 and a 200 day moving average price of $46.55.

Lumentum Holdings (NASDAQ:LITE) last released its quarterly earnings results on Thursday, May 4th. The technology company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.12. Lumentum Holdings had a positive return on equity of 19.55% and a negative net margin of 3.28%. The business had revenue of $255.80 million during the quarter, compared to analysts’ expectations of $257.22 million. During the same quarter in the prior year, the business earned $0.32 earnings per share. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, analysts anticipate that Lumentum Holdings Inc. will post $1.90 earnings per share for the current year.

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A number of brokerages recently issued reports on LITE. B. Riley reissued a “buy” rating and set a $58.00 price target on shares of Lumentum Holdings in a research report on Friday, May 5th. Needham & Company LLC lifted their target price on shares of Lumentum Holdings from $56.00 to $80.00 and gave the stock a “strong-buy” rating in a report on Monday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $57.50 target price (up from $45.00) on shares of Lumentum Holdings in a report on Thursday, February 16th. MKM Partners reaffirmed a “neutral” rating and issued a $50.00 target price on shares of Lumentum Holdings in a report on Monday, February 27th. They noted that the move was a valuation call. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $62.00 target price on shares of Lumentum Holdings in a report on Friday, May 5th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $54.33.

In other Lumentum Holdings news, CEO Alan S. Lowe sold 5,954 shares of the stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $54.29, for a total value of $323,242.66. Following the completion of the transaction, the chief executive officer now owns 153,439 shares in the company, valued at $8,330,203.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Vincent Retort sold 2,029 shares of the stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $54.26, for a total value of $110,093.54. Following the completion of the transaction, the chief operating officer now owns 68,448 shares of the company’s stock, valued at approximately $3,713,988.48. The disclosure for this sale can be found here. Insiders have sold 11,813 shares of company stock valued at $648,776 in the last 90 days. Company insiders own 0.76% of the company’s stock.

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).

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