Great West Life Assurance Co. Can Sells 26,524 Shares of Lumentum Holdings Inc (NASDAQ:LITE)

Great West Life Assurance Co. Can reduced its holdings in Lumentum Holdings Inc (NASDAQ:LITE) by 36.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 46,677 shares of the technology company’s stock after selling 26,524 shares during the quarter. Great West Life Assurance Co. Can owned approximately 0.06% of Lumentum worth $2,637,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Ellis Investment Partners LLC increased its position in Lumentum by 5,816.5% in the 1st quarter. Ellis Investment Partners LLC now owns 1,488,472 shares of the technology company’s stock valued at $1,488,000 after acquiring an additional 1,463,314 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Lumentum by 4,834.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,231,145 shares of the technology company’s stock worth $29,000 after buying an additional 1,206,194 shares during the period. Northern Trust Corp increased its position in shares of Lumentum by 16.3% during the fourth quarter. Northern Trust Corp now owns 1,158,996 shares of the technology company’s stock worth $48,688,000 after buying an additional 162,095 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Lumentum by 31.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,131,377 shares of the technology company’s stock worth $47,529,000 after buying an additional 272,165 shares during the period. Finally, Eagle Asset Management Inc. increased its position in shares of Lumentum by 2.2% during the first quarter. Eagle Asset Management Inc. now owns 877,374 shares of the technology company’s stock worth $49,606,000 after buying an additional 19,045 shares during the period. Hedge funds and other institutional investors own 95.29% of the company’s stock.

In related news, SVP Judy G. Hamel sold 1,429 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $58.64, for a total transaction of $83,796.56. Following the transaction, the senior vice president now directly owns 44,793 shares of the company’s stock, valued at $2,626,661.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.55% of the stock is owned by company insiders.

Shares of Lumentum stock traded up $0.98 during trading hours on Friday, reaching $53.41. The company’s stock had a trading volume of 4,233,917 shares, compared to its average volume of 1,363,558. The company has a quick ratio of 3.20, a current ratio of 3.96 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $47.63. Lumentum Holdings Inc has a one year low of $37.00 and a one year high of $69.95. The stock has a market cap of $4.01 billion, a P/E ratio of 16.48, a P/E/G ratio of 1.19 and a beta of 1.13.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.22. Lumentum had a net margin of 1.57% and a return on equity of 19.94%. The company had revenue of $433.00 million for the quarter, compared to analyst estimates of $428.33 million. During the same period last year, the firm earned $0.78 earnings per share. The firm’s revenue was up 44.8% on a year-over-year basis. As a group, equities analysts forecast that Lumentum Holdings Inc will post 3.15 earnings per share for the current year.

Several equities research analysts have recently weighed in on LITE shares. TheStreet upgraded shares of Lumentum from a “c+” rating to a “b-” rating in a research report on Wednesday, April 17th. Rosenblatt Securities set a $80.00 target price on shares of Lumentum and gave the stock a “buy” rating in a research note on Thursday, March 7th. Northland Securities reissued a “buy” rating and set a $64.00 target price on shares of Lumentum in a research note on Wednesday, March 6th. BidaskClub lowered shares of Lumentum from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 21st. Finally, Jefferies Financial Group reissued a “buy” rating and set a $70.00 target price on shares of Lumentum in a research note on Friday, March 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Lumentum currently has a consensus rating of “Buy” and a consensus target price of $66.39.

Lumentum 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 and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.

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Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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