Lumentum Holdings Inc. $LITE Shares Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC lifted its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 22.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 820,230 shares of the technology company’s stock after acquiring an additional 149,962 shares during the period. Fisher Asset Management LLC’s holdings in Lumentum were worth $77,971,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FNY Investment Advisers LLC purchased a new stake in Lumentum during the 2nd quarter worth $38,000. SVB Wealth LLC purchased a new position in Lumentum in the first quarter valued at about $40,000. MAI Capital Management lifted its stake in shares of Lumentum by 27.0% during the second quarter. MAI Capital Management now owns 452 shares of the technology company’s stock worth $43,000 after purchasing an additional 96 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Lumentum by 36.8% in the first quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock worth $59,000 after buying an additional 254 shares during the period. Finally, Hantz Financial Services Inc. grew its stake in shares of Lumentum by 224.4% in the second quarter. Hantz Financial Services Inc. now owns 704 shares of the technology company’s stock valued at $67,000 after buying an additional 487 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insiders Place Their Bets

In other news, Director Isaac Hosojiro Harris sold 7,200 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $243.32, for a total transaction of $1,751,904.00. Following the transaction, the director owned 9,764 shares of the company’s stock, valued at approximately $2,375,776.48. This trade represents a 42.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jae Kim sold 170 shares of Lumentum stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $246.00, for a total value of $41,820.00. Following the completion of the transaction, the senior vice president owned 38,400 shares of the company’s stock, valued at $9,446,400. This trade represents a 0.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 28,612 shares of company stock worth $7,317,398. Company insiders own 0.43% of the company’s stock.

Lumentum Trading Down 2.2%

NASDAQ LITE opened at $317.93 on Tuesday. The company has a market capitalization of $22.54 billion, a price-to-earnings ratio of 213.38 and a beta of 1.52. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.37 and a quick ratio of 1.02. Lumentum Holdings Inc. has a 12 month low of $45.65 and a 12 month high of $325.46. The company’s fifty day moving average price is $206.41 and its two-hundred day moving average price is $142.34.

Wall Street Analyst Weigh In

Several research firms recently commented on LITE. Mizuho boosted their price target on Lumentum to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 25th. Wolfe Research reissued an “outperform” rating and set a $240.00 target price on shares of Lumentum in a research report on Wednesday, November 5th. Wall Street Zen lowered shares of Lumentum from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $280.00 price target on shares of Lumentum in a research note on Monday, November 24th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Lumentum from $145.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $202.50.

Lumentum Company Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.