6,686 Shares in Lumentum Holdings (LITE) Purchased by Alps Advisors Inc.

Alps Advisors Inc. purchased a new position in shares of Lumentum Holdings (NASDAQ:LITE) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,686 shares of the technology company’s stock, valued at approximately $427,000.

Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Lumentum by 3.6% during the 4th quarter. BlackRock Inc. now owns 7,756,216 shares of the technology company’s stock worth $379,279,000 after acquiring an additional 268,849 shares during the period. Bank of New York Mellon Corp increased its position in Lumentum by 58.0% during the 4th quarter. Bank of New York Mellon Corp now owns 4,005,797 shares of the technology company’s stock worth $195,883,000 after purchasing an additional 1,470,587 shares in the last quarter. Whale Rock Capital Management LLC increased its position in Lumentum by 8.6% during the 4th quarter. Whale Rock Capital Management LLC now owns 1,726,516 shares of the technology company’s stock worth $84,427,000 after purchasing an additional 136,157 shares in the last quarter. AXA increased its position in Lumentum by 48.4% during the 4th quarter. AXA now owns 1,411,087 shares of the technology company’s stock worth $69,002,000 after purchasing an additional 460,315 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC increased its position in Lumentum by 13.3% during the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 1,278,826 shares of the technology company’s stock worth $62,535,000 after purchasing an additional 150,222 shares in the last quarter.

In other Lumentum news, CEO Alan S. Lowe sold 8,272 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $58.66, for a total value of $485,235.52. Following the completion of the transaction, the chief executive officer now directly owns 238,998 shares in the company, valued at approximately $14,019,622.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Judy G. Hamel sold 953 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $58.80, for a total transaction of $56,036.40. Following the completion of the transaction, the general counsel now owns 28,816 shares of the company’s stock, valued at $1,694,380.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,116 shares of company stock valued at $3,507,810. Corporate insiders own 0.76% of the company’s stock.

Shares of NASDAQ LITE opened at $62.75 on Friday. The company has a quick ratio of 4.81, a current ratio of 5.56 and a debt-to-equity ratio of 0.38. Lumentum Holdings has a 52-week low of $63.05 and a 52-week high of $64.15. The company has a market capitalization of $3.98 billion and a price-to-earnings ratio of 39.47.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Wednesday, May 2nd. The technology company reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.07. Lumentum had a net margin of 13.63% and a return on equity of 23.35%. The firm had revenue of $299.00 million during the quarter, compared to analysts’ expectations of $292.30 million. During the same period in the prior year, the company posted $0.49 EPS. The company’s revenue was up 16.8% on a year-over-year basis. research analysts expect that Lumentum Holdings will post 2.89 earnings per share for the current year.

A number of research firms recently issued reports on LITE. Stifel Nicolaus reiterated a “buy” rating and set a $79.00 price objective on shares of Lumentum in a research report on Thursday, March 15th. UBS began coverage on shares of Lumentum in a research report on Wednesday, January 31st. They set a “buy” rating and a $57.00 price objective for the company. Barclays upped their price objective on shares of Lumentum from $67.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 2nd. DA Davidson upped their price objective on shares of Lumentum to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Finally, Zacks Investment Research upgraded shares of Lumentum from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Friday, May 4th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Lumentum presently has a consensus rating of “Buy” and a consensus price target of $81.29.

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. It 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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