Lumentum Holdings Inc. $LITE Shares Purchased by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB raised its holdings in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 944.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,061 shares of the technology company's stock after purchasing an additional 22,661 shares during the quarter. E. Ohman J or Asset Management AB's holdings in Lumentum were worth $21,504,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LITE. Hilton Head Capital Partners LLC acquired a new stake in shares of Lumentum in the 1st quarter valued at approximately $25,000. Sachetta LLC boosted its stake in shares of Lumentum by 118.8% during the 1st quarter. Sachetta LLC now owns 35 shares of the technology company's stock worth $25,000 after acquiring an additional 19 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Lumentum in the 4th quarter worth approximately $28,000. Truvestments Capital LLC grew its holdings in shares of Lumentum by 300.0% in the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company's stock worth $28,000 after acquiring an additional 57 shares during the period. Finally, Triumph Capital Management purchased a new position in Lumentum in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Analyst Ratings Changes

LITE has been the subject of several research reports. Zacks Research cut Lumentum from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Needham & Company LLC restated a "buy" rating and issued a $1,040.00 price target on shares of Lumentum in a research report on Tuesday, June 9th. Barclays lifted their price target on Lumentum from $750.00 to $1,000.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 6th. Stifel Nicolaus boosted their price objective on shares of Lumentum from $800.00 to $1,100.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Finally, Craig Hallum increased their price objective on shares of Lumentum from $900.00 to $1,150.00 in a research note on Wednesday, May 6th. Fourteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Lumentum currently has a consensus rating of "Moderate Buy" and an average target price of $1,012.67.

Insider Buying and Selling

In other news, Director Ian Small sold 4,954 shares of the company's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the completion of the transaction, the director owned 21,008 shares of the company's stock, valued at $18,236,414.56. This represents a 19.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Vincent Retort sold 3,183 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $3,036,422.85. Following the transaction, the insider owned 89,563 shares in the company, valued at approximately $85,438,623.85. The trade was a 3.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 23,827 shares of company stock worth $22,051,069 over the last ninety days. Insiders own 0.43% of the company's stock.

Lumentum Stock Performance

Lumentum stock opened at $813.51 on Tuesday. The stock has a fifty day moving average price of $813.40 and a 200 day moving average price of $760.16. Lumentum Holdings Inc. has a 52 week low of $111.20 and a 52 week high of $1,085.68. The firm has a market capitalization of $63.29 billion, a P/E ratio of 150.65 and a beta of 1.50. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01.

About Lumentum

Lumentum Holdings Inc, headquartered in San Jose, California, is a leading provider of photonic technologies that enable high-speed optical communication networks and advanced industrial applications. The company designs and manufactures a broad range of lasers, optical modules and subsystems tailored to the evolving requirements of telecommunications carriers, cloud data centers and enterprise networking.

Its core product portfolio includes tunable and fixed-wavelength laser transmitters, coherent optical engines, transceivers for long-haul, metro and data center interconnects, as well as test and measurement instruments.

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