Westfield Capital Management Co. LP cut its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 1.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 188,200 shares of the technology company’s stock after selling 3,605 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.30% of Lumentum worth $10,229,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Suntrust Banks Inc. raised its holdings in Lumentum by 0.4% in the second quarter. Suntrust Banks Inc. now owns 9,468 shares of the technology company’s stock worth $539,000 after purchasing an additional 37 shares in the last quarter. Arizona State Retirement System raised its holdings in Lumentum by 0.7% in the second quarter. Arizona State Retirement System now owns 29,060 shares of the technology company’s stock worth $1,658,000 after purchasing an additional 200 shares in the last quarter. Stifel Financial Corp raised its holdings in Lumentum by 6.6% in the second quarter. Stifel Financial Corp now owns 7,271 shares of the technology company’s stock worth $415,000 after purchasing an additional 447 shares in the last quarter. Texas Permanent School Fund raised its holdings in Lumentum by 1.2% in the second quarter. Texas Permanent School Fund now owns 40,628 shares of the technology company’s stock worth $2,318,000 after purchasing an additional 468 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its holdings in Lumentum by 5.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 13,150 shares of the technology company’s stock worth $750,000 after purchasing an additional 650 shares in the last quarter. Institutional investors and hedge funds own 95.70% of the company’s stock.

A number of brokerages have commented on LITE. BidaskClub downgraded shares of Lumentum from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Investment Research upgraded Lumentum from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research note on Friday, November 3rd. Barclays boosted their price target on Lumentum from $59.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 2nd. MKM Partners boosted their price target on Lumentum to $71.00 and gave the stock a “neutral” rating in a research note on Thursday, November 2nd. Finally, DA Davidson boosted their price target on Lumentum from $82.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. Lumentum currently has a consensus rating of “Buy” and an average target price of $68.06.

In related news, COO Vincent Retort sold 30,706 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $54.46, for a total value of $1,672,248.76. Following the sale, the chief operating officer now owns 110,770 shares in the company, valued at $6,032,534.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Aaron Tachibana sold 1,248 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $60.00, for a total value of $74,880.00. Following the completion of the sale, the chief financial officer now owns 69,830 shares in the company, valued at approximately $4,189,800. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,891 shares of company stock worth $3,675,432. 0.76% of the stock is owned by insiders.

Shares of Lumentum Holdings Inc. (NASDAQ LITE) opened at $47.15 on Wednesday. The company has a market capitalization of $2,923.30, a P/E ratio of 32.97, a P/E/G ratio of 0.86 and a beta of 0.83. Lumentum Holdings Inc. has a 52-week low of $34.15 and a 52-week high of $68.63. The company has a debt-to-equity ratio of 0.50, a current ratio of 5.21 and a quick ratio of 4.38.

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

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