13,798 Shares of Lumentum Holdings Inc. $LITE Bought by Vestor Capital LLC

Vestor Capital LLC acquired a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 13,798 shares of the technology company’s stock, valued at approximately $13,401,000.

A number of other institutional investors also recently modified their holdings of the stock. Jupiter Topco LLC acquired a new position in shares of Lumentum during the second quarter worth approximately $1,621,396,000. Amundi increased its holdings in shares of Lumentum by 188.7% in the second quarter. Amundi now owns 658,427 shares of the technology company’s stock valued at $564,970,000 after purchasing an additional 430,355 shares in the last quarter. WT Asset Management Ltd acquired a new stake in shares of Lumentum in the second quarter valued at approximately $494,688,000. Janus Henderson Group PLC increased its holdings in shares of Lumentum by 163.2% in the first quarter. Janus Henderson Group PLC now owns 567,182 shares of the technology company’s stock valued at $398,590,000 after purchasing an additional 351,676 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in shares of Lumentum in the second quarter valued at approximately $376,539,000. 94.05% of the stock is owned by institutional investors.

Lumentum Stock Performance

Shares of LITE stock opened at $596.16 on Tuesday. The stock has a market cap of $54.07 billion, a PE ratio of -7.57 and a beta of 1.64. The stock has a 50-day moving average of $888.15 and a 200-day moving average of $802.77. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.61 and a quick ratio of 1.40. Lumentum Holdings Inc. has a one year low of $215.35 and a one year high of $1,143.00.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Monday, November 2nd. The technology company reported $4.57 earnings per share for the quarter, topping analysts’ consensus estimates of $4.22 by $0.35. Lumentum had a negative net margin of 175.82% and a positive return on equity of 28.85%. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the firm posted $1.10 earnings per share. The business’s quarterly revenue was up 136.5% compared to the same quarter last year. As a group, sell-side analysts expect that Lumentum Holdings Inc. will post 19.93 earnings per share for the current year.

Wall Street Analyst Weigh In

LITE has been the subject of several research analyst reports. Sanford C. Bernstein assumed coverage on shares of Lumentum in a research report on Wednesday, September 30th. They issued an “outperform” rating and a $1,220.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on Lumentum from $1,165.00 to $1,280.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Morgan Stanley lifted their target price on Lumentum from $900.00 to $1,000.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 12th. Mizuho set a $1,132.00 target price on Lumentum in a research report on Monday, November 2nd. Finally, B. Riley Financial downgraded Lumentum from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $1,142.00 to $770.00 in a research report on Tuesday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,081.61.

Insider Transactions at Lumentum

In other news, CFO Wajid Ali sold 24,542 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $1,048.50, for a total transaction of $25,732,287.00. Following the sale, the chief financial officer owned 75,074 shares of the company’s stock, valued at $78,715,089. This trade represents a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vincent Retort sold 38,663 shares of Lumentum stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $852.59, for a total value of $32,963,687.17. Following the transaction, the insider owned 78,440 shares in the company, valued at $66,877,159.60. This trade represents a 33.02% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 94,496 shares of company stock valued at $85,978,498. Insiders own 0.28% of the company’s stock.

Lumentum Company Profile

Lumentum Holdings Inc develops and manufactures optical and photonic products used in communications networks and industrial applications. Its offerings include optical components, modules and lasers that help transmit and process data across telecommunications and data center networks.

The company also supplies lasers and related technologies for industrial uses, including precision manufacturing and semiconductor production. Its products serve customers in markets around the world.

Lumentum became an independent public company in 2015 through a spin-off from JDSU, now Viavi Solutions.