Gilder Gagnon Howe & Co. LLC cut its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,064,892 shares of the technology company’s stock after selling 34,868 shares during the period. Lumentum Holdings makes up 1.6% of Gilder Gagnon Howe & Co. LLC’s holdings, making the stock its 13th biggest holding. Gilder Gagnon Howe & Co. LLC owned 3.33% of Lumentum Holdings worth $112,227,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. BlackRock Inc. boosted its holdings in Lumentum Holdings by 7.0% during the second quarter. BlackRock Inc. now owns 6,889,157 shares of the technology company’s stock worth $393,025,000 after purchasing an additional 448,077 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Lumentum Holdings by 2.3% during the second quarter. Vanguard Group Inc. now owns 5,330,153 shares of the technology company’s stock worth $304,085,000 after purchasing an additional 122,150 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Lumentum Holdings by 71.2% during the second quarter. Bank of New York Mellon Corp now owns 2,662,272 shares of the technology company’s stock worth $151,883,000 after purchasing an additional 1,107,107 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Lumentum Holdings by 14.5% during the second quarter. Alliancebernstein L.P. now owns 2,102,853 shares of the technology company’s stock worth $119,968,000 after purchasing an additional 265,723 shares during the last quarter. Finally, State Street Corp boosted its holdings in Lumentum Holdings by 16.3% during the second quarter. State Street Corp now owns 1,491,562 shares of the technology company’s stock worth $85,095,000 after purchasing an additional 208,872 shares during the last quarter. 95.69% of the stock is owned by institutional investors.

Shares of Lumentum Holdings Inc. (LITE) traded up $1.70 during mid-day trading on Monday, hitting $57.15. 1,363,600 shares of the company were exchanged, compared to its average volume of 1,828,473. The stock has a market cap of $3,560.00 and a PE ratio of 39.97. 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.

In related news, CEO Alan S. Lowe sold 4,364 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $54.59, for a total transaction of $238,230.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Penny Herscher sold 1,313 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $53.04, for a total transaction of $69,641.52. Following the sale, the director now directly owns 26,464 shares in the company, valued at approximately $1,403,650.56. 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 in the last ninety days. 0.76% of the stock is currently owned by insiders.

WARNING: This piece of content was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/11/13/gilder-gagnon-howe-co-llc-sells-34868-shares-of-lumentum-holdings-inc-lite.html.

A number of research analysts have weighed in on LITE shares. Needham & Company LLC reiterated a “strong-buy” rating and issued a $80.00 target price on shares of Lumentum Holdings in a research note on Wednesday, September 6th. B. Riley reiterated a “buy” rating and issued a $77.00 target price on shares of Lumentum Holdings in a research note on Thursday, August 3rd. UBS AG boosted their target price on shares of Lumentum Holdings from $66.00 to $70.00 in a research note on Wednesday, August 9th. Zacks Investment Research cut shares of Lumentum Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Finally, Rosenblatt Securities set a $70.00 target price on shares of Lumentum Holdings and gave the company a “buy” rating in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $68.06.

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).

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

Receive News & Stock Ratings for Lumentum Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumentum Holdings Inc. and related stocks with our FREE daily email newsletter.