Mutual of America Capital Management LLC Reduces Stake in Lumentum Holdings Inc. (NASDAQ:LITE)

Mutual of America Capital Management LLC lowered its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,852 shares of the technology company’s stock after selling 958 shares during the period. Mutual of America Capital Management LLC owned approximately 0.19% of Lumentum worth $11,683,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new position in Lumentum in the third quarter worth about $33,000. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Lumentum during the third quarter valued at approximately $50,000. NuWave Investment Management LLC boosted its position in shares of Lumentum by 1,196.4% during the third quarter. NuWave Investment Management LLC now owns 726 shares of the technology company’s stock valued at $61,000 after buying an additional 670 shares during the period. Global Retirement Partners LLC boosted its position in shares of Lumentum by 21.7% during the third quarter. Global Retirement Partners LLC now owns 907 shares of the technology company’s stock valued at $76,000 after buying an additional 162 shares during the period. Finally, Herold Advisors Inc. purchased a new position in shares of Lumentum during the third quarter valued at approximately $91,000. Institutional investors own 89.58% of the company’s stock.

In other Lumentum news, CEO Alan S. Lowe sold 26,514 shares of the company’s stock in a transaction on Monday, November 8th. The shares were sold at an average price of $92.11, for a total value of $2,442,204.54. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Penny Herscher sold 1,066 shares of the company’s stock in a transaction dated Friday, November 19th. The stock was sold at an average price of $90.56, for a total transaction of $96,536.96. The disclosure for this sale can be found here. Insiders have sold 50,421 shares of company stock worth $4,643,499 over the last three months. Corporate insiders own 0.32% of the company’s stock.

NASDAQ LITE opened at $106.36 on Friday. The firm’s fifty day simple moving average is $97.68 and its two-hundred day simple moving average is $88.83. The company has a current ratio of 3.96, a quick ratio of 3.62 and a debt-to-equity ratio of 0.41. Lumentum Holdings Inc. has a 12-month low of $65.67 and a 12-month high of $108.90. The firm has a market capitalization of $7.69 billion, a P/E ratio of 20.18 and a beta of 0.85.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Thursday, November 4th. The technology company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.24. The firm had revenue of $448.40 million for the quarter, compared to analyst estimates of $439.95 million. Lumentum had a net margin of 23.68% and a return on equity of 19.82%. The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.53 earnings per share. As a group, sell-side analysts predict that Lumentum Holdings Inc. will post 4.83 earnings per share for the current fiscal year.

LITE has been the subject of several recent analyst reports. Susquehanna boosted their target price on Lumentum from $100.00 to $120.00 and gave the company a “positive” rating in a research report on Wednesday, December 15th. Morgan Stanley lifted their price target on shares of Lumentum from $81.00 to $91.00 and gave the company an “equal weight” rating in a research note on Friday, November 5th. Craig Hallum lifted their price target on shares of Lumentum from $110.00 to $130.00 in a research note on Tuesday, January 4th. Zacks Investment Research downgraded shares of Lumentum from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Raymond James downgraded shares of Lumentum from a “strong-buy” rating to an “outperform” rating and set a $96.00 price target for the company. in a research note on Tuesday, October 12th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $103.24.

Lumentum Profile

Lumentum Holdings, Inc engages in the provision of optical and photonic products. It operates through the Optical Communications (OpComms) and Commercial Lasers segments. The OpComms segment includes a range of components, modules, and subsystems to support customers including carrier networks of access (local), metro (intracity), long-haul (city-to-city and worldwide), and submarine (undersea) applications.

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Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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