State of Alaska Department of Revenue increased its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 78.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,989 shares of the technology company’s stock after buying an additional 4,839 shares during the period. State of Alaska Department of Revenue’s holdings in Lumentum Holdings were worth $626,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Lumentum Holdings by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 578,301 shares of the technology company’s stock valued at $22,352,000 after buying an additional 30,570 shares in the last quarter. FMR LLC increased its stake in Lumentum Holdings by 118.8% in the fourth quarter. FMR LLC now owns 697,786 shares of the technology company’s stock valued at $26,970,000 after buying an additional 378,919 shares in the last quarter. Guggenheim Capital LLC increased its stake in Lumentum Holdings by 464.3% in the fourth quarter. Guggenheim Capital LLC now owns 83,617 shares of the technology company’s stock valued at $3,231,000 after buying an additional 68,798 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Lumentum Holdings by 10.8% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 17,460 shares of the technology company’s stock valued at $675,000 after buying an additional 1,700 shares in the last quarter. Finally, Norges Bank acquired a new stake in Lumentum Holdings during the fourth quarter valued at $20,182,000. 95.14% of the stock is owned by institutional investors.

Lumentum Holdings Inc. (LITE) opened at 60.45 on Friday. The firm has a 50 day moving average of $61.12 and a 200-day moving average of $50.03. Lumentum Holdings Inc. has a 52-week low of $26.51 and a 52-week high of $67.30. The stock’s market cap is $3.70 billion.

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

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Several research firms have weighed in on LITE. Barclays PLC reissued a “hold” rating on shares of Lumentum Holdings in a research note on Friday, July 14th. B. Riley reissued a “buy” rating and issued a $77.00 price target (up from $58.00) on shares of Lumentum Holdings in a research note on Tuesday, June 27th. Stifel Nicolaus reissued a “buy” rating and issued a $73.00 price target (up from $53.00) on shares of Lumentum Holdings in a research note on Thursday, June 22nd. DA Davidson began coverage on shares of Lumentum Holdings in a research note on Thursday, June 22nd. They issued a “neutral” rating and a $77.00 price target for the company. Finally, BidaskClub raised shares of Lumentum Holdings from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $59.64.

In other news, COO Vincent Retort sold 805 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $58.15, for a total value of $46,810.75. Following the completion of the sale, the chief operating officer now owns 66,755 shares in the company, valued at approximately $3,881,803.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Aaron Tachibana sold 1,521 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $54.40, for a total transaction of $82,742.40. Following the completion of the sale, the chief financial officer now owns 45,495 shares of the company’s stock, valued at approximately $2,474,928. The disclosure for this sale can be found here. Insiders sold a total of 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.

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).

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

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