Teachers Retirement System of The State of Kentucky Buys 16,398 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Teachers Retirement System of The State of Kentucky boosted its holdings in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 73.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,738 shares of the technology company's stock after buying an additional 16,398 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.06% of Lumentum worth $2,415,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LITE. Capital World Investors boosted its stake in Lumentum by 108.3% during the fourth quarter. Capital World Investors now owns 3,600,132 shares of the technology company's stock worth $302,231,000 after buying an additional 1,871,572 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Lumentum by 1.4% during the 4th quarter. Alliancebernstein L.P. now owns 1,711,956 shares of the technology company's stock worth $143,719,000 after acquiring an additional 23,136 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Lumentum by 98.9% during the 4th quarter. Nuveen Asset Management LLC now owns 1,228,371 shares of the technology company's stock valued at $103,122,000 after acquiring an additional 610,938 shares in the last quarter. Geode Capital Management LLC increased its stake in Lumentum by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 1,195,605 shares of the technology company's stock valued at $100,402,000 after acquiring an additional 9,442 shares during the period. Finally, Fuller & Thaler Asset Management Inc. raised its position in Lumentum by 8.1% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 838,289 shares of the technology company's stock worth $70,374,000 after purchasing an additional 62,937 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Lumentum Trading Up 0.7%

LITE traded up $0.72 during trading on Thursday, reaching $102.85. 1,186,593 shares of the company's stock were exchanged, compared to its average volume of 2,254,280. The company's fifty day moving average price is $87.04 and its 200-day moving average price is $76.22. The company has a debt-to-equity ratio of 2.91, a quick ratio of 3.53 and a current ratio of 4.72. The firm has a market capitalization of $7.14 billion, a PE ratio of -15.95 and a beta of 1.34. Lumentum Holdings Inc. has a fifty-two week low of $38.28 and a fifty-two week high of $105.47.

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

Insider Activity at Lumentum

In other Lumentum news, insider Yuen Wupen sold 4,716 shares of the business's 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 sale, the insider owned 82,957 shares in the company, valued at approximately $6,376,904.59. The trade was a 5.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alan S. Lowe sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $93.47, for a total transaction of $1,869,400.00. Following the transaction, the director directly owned 230,471 shares of the company's stock, valued at $21,542,124.37. This represents a 7.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,784 shares of company stock worth $5,769,065. Corporate insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

LITE has been the subject of a number of recent research reports. Wolfe Research began coverage on Lumentum in a report on Tuesday, July 8th. They issued an "outperform" rating for the company. Northland Securities set a $80.00 price objective on Lumentum in a report on Wednesday, May 7th. Northland Capmk raised shares of Lumentum from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Needham & Company LLC lifted their price target on shares of Lumentum from $100.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Finally, Susquehanna upped their price objective on shares of Lumentum from $95.00 to $125.00 and gave the stock a "positive" rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Lumentum currently has an average rating of "Moderate Buy" and a consensus target price of $87.73.

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.