Schwab Charles Investment Management Inc. boosted its position in shares of Lumentum Holdings Inc (NASDAQ:LITE) by 9.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 320,195 shares of the technology company’s stock after acquiring an additional 28,695 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.52% of Lumentum worth $17,403,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of LITE. Artemis Investment Management LLP increased its position in Lumentum by 676.1% during the third quarter. Artemis Investment Management LLP now owns 672,022 shares of the technology company’s stock valued at $36,541,000 after acquiring an additional 585,432 shares during the last quarter. BlackRock Inc. increased its position in Lumentum by 7.0% during the second quarter. BlackRock Inc. now owns 6,889,157 shares of the technology company’s stock valued at $393,025,000 after acquiring an additional 448,077 shares during the last quarter. Ameriprise Financial Inc. increased its position in Lumentum by 98.4% during the third quarter. Ameriprise Financial Inc. now owns 762,469 shares of the technology company’s stock valued at $41,441,000 after acquiring an additional 378,255 shares during the last quarter. Lord Abbett & CO. LLC increased its position in Lumentum by 169.4% during the second quarter. Lord Abbett & CO. LLC now owns 584,992 shares of the technology company’s stock valued at $33,374,000 after acquiring an additional 367,860 shares during the last quarter. Finally, FMR LLC increased its position in Lumentum by 38.8% during the second quarter. FMR LLC now owns 1,249,049 shares of the technology company’s stock valued at $71,259,000 after acquiring an additional 348,980 shares during the last quarter. Institutional investors own 95.70% of the company’s stock.

A number of research firms recently commented on LITE. B. Riley reiterated a “buy” rating and set a $89.00 price objective on shares of Lumentum in a research report on Wednesday, December 13th. BidaskClub upgraded Lumentum from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. Northland Securities upgraded Lumentum from a “market perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research report on Monday, December 11th. They noted that the move was a valuation call. Zacks Investment Research cut Lumentum from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Finally, Barclays upped their price target on Lumentum from $59.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $68.75.

Shares of Lumentum Holdings Inc (LITE) opened at $53.90 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 5.21 and a quick ratio of 4.38. The company has a market capitalization of $3,310.80, a PE ratio of 37.34, a price-to-earnings-growth ratio of 0.94 and a beta of 0.83. Lumentum Holdings Inc has a 1 year low of $34.15 and a 1 year high of $68.63.

In other news, COO Vincent Retort sold 30,706 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief operating officer now owns 110,770 shares of the company’s stock, valued at $6,032,534.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Martin A. Kaplan sold 15,000 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $57.07, for a total value of $856,050.00. Following the completion of the transaction, the director now directly owns 29,573 shares of the company’s stock, valued at approximately $1,687,731.11. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,713 shares of company stock valued at $3,717,034. Corporate insiders own 0.76% of the company’s stock.

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Lumentum 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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