10,043 Shares in Lumentum Holdings Inc. (NASDAQ:LITE) Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,043 shares of the technology company's stock, valued at approximately $626,000.

A number of other institutional investors and hedge funds have also made changes to their positions in LITE. Peregrine Capital Management LLC boosted its position in Lumentum by 0.7% during the first quarter. Peregrine Capital Management LLC now owns 116,408 shares of the technology company's stock worth $7,257,000 after acquiring an additional 825 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Lumentum by 43.7% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 11,059 shares of the technology company's stock worth $689,000 after purchasing an additional 3,362 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in Lumentum by 103.2% during the 1st quarter. Golden State Wealth Management LLC now owns 512 shares of the technology company's stock worth $32,000 after acquiring an additional 260 shares in the last quarter. Lecap Asset Management Ltd. grew its holdings in shares of Lumentum by 15.7% during the first quarter. Lecap Asset Management Ltd. now owns 7,935 shares of the technology company's stock valued at $495,000 after purchasing an additional 1,078 shares during the last quarter. Finally, Asset Management One Co. Ltd. acquired a new stake in Lumentum in the 1st quarter valued at approximately $69,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Lumentum Stock Up 2.0%

Shares of NASDAQ:LITE traded up $1.99 during midday trading on Thursday, hitting $101.62. The stock had a trading volume of 1,831,444 shares, compared to its average volume of 2,159,033. The company has a market cap of $7.05 billion, a P/E ratio of -15.76 and a beta of 1.34. Lumentum Holdings Inc. has a 12 month low of $38.29 and a 12 month high of $104.00. The business's 50-day simple moving average is $83.93 and its 200-day simple moving average is $75.64. The company has a quick ratio of 3.53, a current ratio of 4.72 and a debt-to-equity ratio of 2.91.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.07. The business had revenue of $425.20 million for the quarter, compared to analyst estimates of $418.18 million. Lumentum had a negative net margin of 29.87% and a negative return on equity of 8.69%. Lumentum's quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 EPS. On average, sell-side analysts forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LITE shares. Northland Capmk raised Lumentum from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Raymond James Financial lifted their price objective on shares of Lumentum from $80.00 to $90.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, June 4th. Needham & Company LLC increased their target price on Lumentum from $100.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. JPMorgan Chase & Co. lifted their price target on Lumentum from $100.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Morgan Stanley raised their price objective on Lumentum from $76.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $87.07.

Insiders Place Their Bets

In other Lumentum news, Director Alan S. Lowe sold 20,000 shares of the firm's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $93.47, for a total value of $1,869,400.00. Following the transaction, the director directly owned 230,471 shares of the company's stock, valued at approximately $21,542,124.37. This trade represents a 7.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Yuen Wupen sold 4,716 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $76.87, for a total value of $362,518.92. Following the completion of the sale, the insider directly owned 82,957 shares of the company's stock, valued at approximately $6,376,904.59. This trade represents a 5.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,520 shares of company stock valued at $5,742,078 in the last ninety days. 0.19% of the stock is owned by corporate insiders.

Lumentum Company Profile

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 through 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.