Fisher Asset Management LLC Sells 808 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Fisher Asset Management LLC trimmed its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 0.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 578,571 shares of the technology company’s stock after selling 808 shares during the period. Fisher Asset Management LLC’s holdings in Lumentum were worth $36,670,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in Lumentum in the 3rd quarter worth about $33,000. Point72 DIFC Ltd acquired a new position in shares of Lumentum in the second quarter valued at approximately $36,000. GAMMA Investing LLC raised its holdings in Lumentum by 141.6% in the 3rd quarter. GAMMA Investing LLC now owns 894 shares of the technology company’s stock valued at $57,000 after buying an additional 524 shares during the last quarter. Signaturefd LLC grew its holdings in Lumentum by 93.9% during the 2nd quarter. Signaturefd LLC now owns 1,144 shares of the technology company’s stock worth $58,000 after acquiring an additional 554 shares during the last quarter. Finally, nVerses Capital LLC increased its position in Lumentum by 416.7% in the 2nd quarter. nVerses Capital LLC now owns 3,100 shares of the technology company’s stock valued at $158,000 after acquiring an additional 2,500 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Activity at Lumentum

In related news, CAO Matthew Joseph Sepe sold 8,172 shares of Lumentum stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $87.60, for a total value of $715,867.20. Following the completion of the sale, the chief accounting officer now owns 21,138 shares of the company’s stock, valued at approximately $1,851,688.80. This trade represents a 27.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Vincent Retort sold 41,710 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $89.52, for a total transaction of $3,733,879.20. Following the sale, the insider now owns 147,515 shares of the company’s stock, valued at $13,205,542.80. This trade represents a 22.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,910 shares of company stock valued at $6,339,239 in the last three months. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on LITE shares. Rosenblatt Securities lifted their price target on shares of Lumentum from $69.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Needham & Company LLC upped their price target on Lumentum from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. raised their price objective on Lumentum from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Raymond James upped their target price on Lumentum from $70.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Morgan Stanley raised their price target on shares of Lumentum from $61.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Three analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, Lumentum currently has an average rating of “Hold” and an average price target of $74.85.

Lumentum Trading Down 0.3 %

LITE opened at $86.98 on Wednesday. The company has a fifty day moving average price of $70.04 and a two-hundred day moving average price of $57.30. Lumentum Holdings Inc. has a 1-year low of $38.28 and a 1-year high of $91.21. The company has a market cap of $5.98 billion, a P/E ratio of -10.50 and a beta of 0.88. The company has a current ratio of 5.36, a quick ratio of 4.04 and a debt-to-equity ratio of 2.87.

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 (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.