Lumentum Holdings Inc. (NASDAQ:LITE) Stock Position Reduced by United Capital Financial Advisers LLC

United Capital Financial Advisers LLC lessened its position in shares of Lumentum Holdings Inc. (NASDAQ:LITEGet Rating) by 4.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 60,725 shares of the technology company’s stock after selling 3,014 shares during the period. United Capital Financial Advisers LLC owned about 0.09% of Lumentum worth $4,823,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in LITE. Urban Wealth Management LLC bought a new stake in shares of Lumentum in the 2nd quarter worth approximately $29,000. Assetmark Inc. bought a new stake in shares of Lumentum in the 2nd quarter worth approximately $30,000. Twin Tree Management LP bought a new stake in shares of Lumentum in the 1st quarter worth approximately $36,000. SeaCrest Wealth Management LLC bought a new stake in shares of Lumentum in the 2nd quarter worth approximately $46,000. Finally, CWM LLC lifted its holdings in shares of Lumentum by 184.5% in the 2nd quarter. CWM LLC now owns 623 shares of the technology company’s stock worth $49,000 after purchasing an additional 404 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Rosenblatt Securities lowered their target price on Lumentum from $125.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, November 9th. Needham & Company LLC lowered their target price on Lumentum from $125.00 to $72.00 and set a “buy” rating on the stock in a research report on Wednesday, November 9th. TheStreet cut Lumentum from a “b-” rating to a “c” rating in a research report on Tuesday, November 8th. B. Riley lowered their target price on Lumentum from $119.00 to $90.00 in a research report on Wednesday, November 9th. Finally, Susquehanna Bancshares lowered their price target on Lumentum from $100.00 to $85.00 in a research report on Wednesday, November 9th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Lumentum has a consensus rating of “Moderate Buy” and an average price target of $79.08.

Insider Transactions at Lumentum

In other news, CAO Matthew Joseph Sepe sold 3,030 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $86.20, for a total value of $261,186.00. Following the completion of the sale, the chief accounting officer now owns 25,288 shares of the company’s stock, valued at $2,179,825.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.50% of the stock is currently owned by insiders.

Lumentum Stock Performance

Shares of Lumentum stock opened at $55.32 on Thursday. The stock has a market cap of $3.77 billion, a PE ratio of 35.01, a price-to-earnings-growth ratio of 2.20 and a beta of 0.99. The business has a fifty day simple moving average of $68.15 and a 200-day simple moving average of $78.94. The company has a quick ratio of 2.58, a current ratio of 3.04 and a debt-to-equity ratio of 1.24. Lumentum Holdings Inc. has a 12 month low of $54.40 and a 12 month high of $108.90.

Lumentum Company Profile

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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 in 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.It offers tunable transponders, transceivers, and transmitter modules; tunable lasers, receivers, and modulators; transport products, such as reconfigurable optical add/drop multiplexers, amplifiers, and optical channel monitors, as well as components, including 980nm, multi-mode, and Raman pumps; and switches, attenuators, photodetectors, gain flattening filters, isolators, wavelength-division multiplexing filters, arrayed waveguide gratings, multiplex/de-multiplexers, and integrated passive modules.

Further Reading

Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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