Lumentum Holdings Inc. (LITE) Holdings Decreased by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 4.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,535,210 shares of the technology company’s stock after selling 127,062 shares during the quarter. Bank of New York Mellon Corp owned about 4.09% of Lumentum Holdings worth $137,789,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Riverhead Capital Management LLC increased its position in shares of Lumentum Holdings by 71.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,062 shares of the technology company’s stock worth $118,000 after purchasing an additional 862 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Lumentum Holdings by 111.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,662 shares of the technology company’s stock worth $152,000 after acquiring an additional 1,406 shares during the last quarter. Creative Planning increased its holdings in shares of Lumentum Holdings by 54.2% during the 2nd quarter. Creative Planning now owns 3,039 shares of the technology company’s stock worth $173,000 after acquiring an additional 1,068 shares during the last quarter. LS Investment Advisors LLC increased its holdings in shares of Lumentum Holdings by 2.1% during the 2nd quarter. LS Investment Advisors LLC now owns 3,569 shares of the technology company’s stock worth $204,000 after acquiring an additional 75 shares during the last quarter. Finally, World Asset Management Inc acquired a new position in shares of Lumentum Holdings during the 2nd quarter worth approximately $211,000. 95.69% of the stock is currently owned by hedge funds and other institutional investors.

In other news, COO Vincent Retort sold 30,706 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $54.46, for a total transaction of $1,672,248.76. Following the completion of the sale, the chief operating officer now directly owns 110,770 shares in the company, valued at approximately $6,032,534.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Alan S. Lowe sold 5,548 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $58.53, for a total value of $324,724.44. Following the sale, the chief executive officer now owns 231,763 shares of the company’s stock, valued at $13,565,088.39. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,643 shares of company stock valued at $3,435,462. Corporate insiders own 0.76% of the company’s stock.

A number of research firms recently weighed in on LITE. Jefferies Group LLC reissued a “buy” rating and set a $75.00 target price on shares of Lumentum Holdings in a report on Wednesday, November 1st. Craig Hallum reissued a “buy” rating and set a $85.00 target price (up from $75.00) on shares of Lumentum Holdings in a report on Wednesday, November 1st. Barclays PLC boosted their target price on Lumentum Holdings from $59.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. DA Davidson boosted their target price on Lumentum Holdings from $82.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Finally, MKM Partners boosted their target price on Lumentum Holdings to $71.00 and gave the stock a “neutral” rating in a report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $68.06.

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Shares of Lumentum Holdings Inc. (LITE) opened at $59.33 on Wednesday. The firm has a market capitalization of $3,680.00 and a price-to-earnings ratio of 40.52. The company has a current ratio of 5.21, a quick ratio of 4.38 and a debt-to-equity ratio of 0.50. Lumentum Holdings Inc. has a 1 year low of $34.15 and a 1 year high of $68.63.

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).

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

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