King Luther Capital Management Corp Acquires 4,809 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

King Luther Capital Management Corp grew its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 6.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 82,331 shares of the technology company’s stock after acquiring an additional 4,809 shares during the quarter. King Luther Capital Management Corp owned about 0.12% of Lumentum worth $5,218,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Lumentum by 0.3% during the first quarter. Vanguard Group Inc. now owns 7,218,293 shares of the technology company’s stock valued at $341,786,000 after acquiring an additional 22,088 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Lumentum during the first quarter worth $112,000. Keeley Teton Advisors LLC grew its position in shares of Lumentum by 15.2% during the 1st quarter. Keeley Teton Advisors LLC now owns 31,937 shares of the technology company’s stock valued at $1,512,000 after acquiring an additional 4,209 shares during the period. Earnest Partners LLC grew its holdings in Lumentum by 6.0% in the first quarter. Earnest Partners LLC now owns 1,690,117 shares of the technology company’s stock valued at $80,027,000 after purchasing an additional 95,428 shares during the period. Finally, Caxton Associates LP purchased a new stake in Lumentum in the 1st quarter worth $3,321,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Wall Street Analysts Forecast Growth

LITE has been the subject of several research reports. B. Riley boosted their price target on Lumentum from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Morgan Stanley raised their target price on Lumentum from $61.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Craig Hallum boosted their price target on shares of Lumentum from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Barclays upped their price target on Lumentum from $40.00 to $80.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th. Finally, Northland Securities increased their price target on shares of Lumentum from $45.00 to $60.00 and gave the stock a “market perform” rating in a research report on Friday, November 8th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $74.85.

Insider Activity at Lumentum

In other Lumentum news, CAO Matthew Joseph Sepe sold 8,172 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 21,138 shares in the company, valued at $1,851,688.80. This represents a 27.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Penny Herscher sold 1,625 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $81.09, for a total transaction of $131,771.25. Following the sale, the director now directly owns 6,852 shares in the company, valued at approximately $555,628.68. The trade was a 19.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,797 shares of company stock valued at $2,155,188 over the last quarter. 0.19% of the stock is owned by insiders.

Lumentum Trading Up 3.8 %

Shares of NASDAQ:LITE opened at $85.62 on Friday. The company has a market cap of $5.88 billion, a PE ratio of -10.34 and a beta of 0.88. The company’s 50 day moving average is $68.76 and its two-hundred day moving average is $56.47. Lumentum Holdings Inc. has a 52 week low of $38.28 and a 52 week high of $90.51. 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 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.