Pacer Advisors Inc. boosted its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE – Free Report) by 252.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,100 shares of the technology company’s stock after purchasing an additional 8,668 shares during the period. Pacer Advisors Inc.’s holdings in Lumentum were worth $686,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Assetmark Inc. lifted its holdings in Lumentum by 35.3% in the fourth quarter. Assetmark Inc. now owns 694 shares of the technology company’s stock valued at $36,000 after acquiring an additional 181 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Lumentum by 24.1% during the 4th quarter. Quadrant Capital Group LLC now owns 901 shares of the technology company’s stock worth $47,000 after purchasing an additional 175 shares during the period. BOKF NA acquired a new stake in shares of Lumentum during the 1st quarter worth about $56,000. Itau Unibanco Holding S.A. purchased a new stake in Lumentum in the 1st quarter valued at about $78,000. Finally, Captrust Financial Advisors lifted its position in Lumentum by 39.2% in the first quarter. Captrust Financial Advisors now owns 1,574 shares of the technology company’s stock valued at $154,000 after buying an additional 443 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.
Lumentum Trading Up 0.5 %
NASDAQ:LITE opened at $45.18 on Friday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 3.74 and a current ratio of 4.38. Lumentum Holdings Inc. has a 1 year low of $42.00 and a 1 year high of $75.56. The stock has a market cap of $3.03 billion, a P/E ratio of -23.53, a P/E/G ratio of 26.19 and a beta of 1.05. The stock has a 50-day simple moving average of $50.01 and a 200-day simple moving average of $50.60.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on LITE shares. UBS Group boosted their price target on shares of Lumentum from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Friday, August 18th. Needham & Company LLC restated a “buy” rating and set a $59.00 price target on shares of Lumentum in a research note on Friday, August 18th. JPMorgan Chase & Co. lowered their price target on Lumentum from $64.00 to $57.00 and set an “overweight” rating for the company in a research report on Friday, August 18th. Raymond James lowered their target price on Lumentum from $64.00 to $51.50 and set an “outperform” rating for the company in a report on Thursday, August 17th. Finally, Bank of America lowered shares of Lumentum from a “neutral” rating to an “underperform” rating and set a $50.00 price target on the stock. in a research note on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $54.90.
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.
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