Lumentum Holdings Inc. (LITE) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 464,243 shares of the technology company’s stock after acquiring an additional 7,534 shares during the period. Principal Financial Group Inc. owned 0.76% of Lumentum Holdings worth $26,485,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. boosted its stake in shares of Lumentum Holdings by 151,490.5% during the first quarter. BlackRock Inc. now owns 6,441,080 shares of the technology company’s stock valued at $343,632,000 after purchasing an additional 6,436,831 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Lumentum Holdings by 10.4% during the first quarter. Vanguard Group Inc. now owns 5,208,003 shares of the technology company’s stock valued at $277,848,000 after purchasing an additional 491,391 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Lumentum Holdings by 71.2% during the second quarter. Bank of New York Mellon Corp now owns 2,662,272 shares of the technology company’s stock valued at $151,883,000 after purchasing an additional 1,107,107 shares in the last quarter. Gilder Gagnon Howe & Co. LLC boosted its stake in shares of Lumentum Holdings by 23.4% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 2,099,760 shares of the technology company’s stock valued at $119,791,000 after purchasing an additional 397,622 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Lumentum Holdings by 2,347.2% during the first quarter. Alliancebernstein L.P. now owns 1,837,130 shares of the technology company’s stock valued at $98,011,000 after purchasing an additional 1,762,060 shares in the last quarter. Institutional investors and hedge funds own 95.74% of the company’s stock.

Shares of Lumentum Holdings Inc. (NASDAQ LITE) opened at 56.40 on Monday. The firm has a 50-day moving average of $57.97 and a 200 day moving average of $54.40. Lumentum Holdings Inc. has a 52 week low of $32.90 and a 52 week high of $68.63. The firm’s market capitalization is $3.47 billion.

Lumentum Holdings (NASDAQ:LITE) last posted its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.21 by $0.18. Lumentum Holdings had a negative net margin of 10.25% and a positive return on equity of 18.12%. The company had revenue of $222.70 million during the quarter, compared to analysts’ expectations of $229.45 million. During the same quarter in the previous year, the business posted $0.41 EPS. The firm’s revenue was down 7.9% on a year-over-year basis. On average, equities research analysts expect that Lumentum Holdings Inc. will post $3.02 EPS for the current fiscal year.

A number of equities analysts have recently issued reports on the stock. B. Riley reiterated a “buy” rating and set a $77.00 price objective (up from $58.00) on shares of Lumentum Holdings in a research note on Tuesday, June 27th. Barclays PLC increased their price objective on shares of Lumentum Holdings from $50.00 to $59.00 and gave the company an “equal weight” rating in a research note on Thursday, August 10th. Piper Jaffray Companies reiterated an “overweight” rating and set a $68.00 price objective on shares of Lumentum Holdings in a research note on Thursday, August 10th. Needham & Company LLC reiterated a “strong-buy” rating and set a $80.00 price objective on shares of Lumentum Holdings in a research note on Thursday, August 10th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $72.00 price objective (up from $63.00) on shares of Lumentum Holdings in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Lumentum Holdings has a consensus rating of “Buy” and a consensus target price of $64.75.

In other news, COO Vincent Retort sold 14,875 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $51.59, for a total value of $767,401.25. Following the completion of the transaction, the chief operating officer now owns 92,694 shares in the company, valued at approximately $4,782,083.46. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Alan S. Lowe sold 28,095 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $51.20, for a total transaction of $1,438,464.00. Following the completion of the transaction, the chief executive officer now owns 249,655 shares of the company’s stock, valued at approximately $12,782,336. The disclosure for this sale can be found here. Insiders have sold a total of 52,199 shares of company stock valued at $2,692,047 in the last quarter. 0.76% of the stock is currently owned by company insiders.

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About Lumentum Holdings

Lumentum Holdings Inc is a provider of optical and photonic products for a range of end market applications, including data communications (Datacom) and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Company operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers).

Institutional Ownership by Quarter for Lumentum Holdings (NASDAQ:LITE)

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