United Services Automobile Association grew its holdings in Lumentum Holdings Inc (NASDAQ:LITE) by 17.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,298 shares of the technology company’s stock after buying an additional 1,672 shares during the quarter. United Services Automobile Association’s holdings in Lumentum were worth $475,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new position in shares of Lumentum during the 4th quarter worth approximately $25,000. Sapphire Star Partners LP acquired a new position in shares of Lumentum during the 4th quarter worth approximately $28,000. IFP Advisors Inc increased its position in shares of Lumentum by 121.7% during the 4th quarter. IFP Advisors Inc now owns 949 shares of the technology company’s stock worth $39,000 after purchasing an additional 521 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Lumentum by 70.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,349 shares of the technology company’s stock worth $57,000 after acquiring an additional 559 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Lumentum by 149.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,497 shares of the technology company’s stock worth $102,000 after acquiring an additional 897 shares during the last quarter. Institutional investors and hedge funds own 86.89% of the company’s stock.
Shares of LITE stock traded down $0.28 on Wednesday, hitting $61.81. The company had a trading volume of 674,241 shares, compared to its average volume of 1,590,632. Lumentum Holdings Inc has a twelve month low of $37.00 and a twelve month high of $69.95. The company has a current ratio of 4.17, a quick ratio of 3.24 and a debt-to-equity ratio of 0.53. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 1.15 and a beta of 0.65.
A number of research firms recently weighed in on LITE. Jefferies Financial Group restated a “buy” rating and issued a $70.00 price target on shares of Lumentum in a research note on Friday, March 29th. Northland Securities restated a “buy” rating and issued a $70.00 price target on shares of Lumentum in a research note on Monday. ValuEngine upgraded Lumentum from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. BidaskClub downgraded Lumentum from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 8th. Finally, Barclays reiterated a “buy” rating and set a $52.00 target price on shares of Lumentum in a research report on Friday, January 18th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Lumentum currently has an average rating of “Buy” and an average price target of $70.30.
In other news, Director Martin A. Kaplan sold 3,025 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $48.72, for a total value of $147,378.00. Following the transaction, the director now owns 18,902 shares in the company, valued at $920,905.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harold L. Covert sold 3,017 shares of the stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $46.01, for a total value of $138,812.17. Following the sale, the director now directly owns 20,000 shares of the company’s stock, valued at $920,200. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,617 shares of company stock worth $768,579. Corporate insiders own 0.55% of the company’s stock.
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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