Lumentum Holdings Inc. (NASDAQ:LITE) Shares Acquired by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lifted its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 67.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 670 shares of the technology company’s stock after purchasing an additional 270 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Lumentum were worth $42,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Atom Investors LP acquired a new position in shares of Lumentum in the 3rd quarter valued at $4,127,000. Two Sigma Advisers LP grew its holdings in shares of Lumentum by 24.7% in the third quarter. Two Sigma Advisers LP now owns 186,600 shares of the technology company’s stock valued at $11,827,000 after purchasing an additional 37,000 shares in the last quarter. West Tower Group LLC purchased a new stake in Lumentum during the 3rd quarter worth approximately $444,000. Quest Partners LLC lifted its holdings in Lumentum by 776,400.0% during the 3rd quarter. Quest Partners LLC now owns 7,765 shares of the technology company’s stock worth $492,000 after buying an additional 7,764 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Lumentum by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 738,155 shares of the technology company’s stock valued at $46,784,000 after buying an additional 37,109 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LITE has been the topic of a number of recent research reports. Morgan Stanley upped their price objective on Lumentum from $61.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Raymond James upped their price target on Lumentum from $70.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Barclays lifted their price objective on Lumentum from $40.00 to $80.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. Northland Securities upped their target price on shares of Lumentum from $45.00 to $60.00 and gave the stock a “market perform” rating in a research note on Friday, November 8th. Finally, Susquehanna lifted their price target on shares of Lumentum from $80.00 to $115.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Lumentum presently has an average rating of “Hold” and an average target price of $74.85.

Insider Buying and Selling at Lumentum

In other Lumentum news, Director Penny Herscher sold 1,625 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $81.09, for a total transaction of $131,771.25. Following the completion of the transaction, the director now owns 6,852 shares in the company, valued at approximately $555,628.68. This represents a 19.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vincent Retort sold 41,710 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.52, for a total transaction of $3,733,879.20. Following the completion of the sale, the insider now owns 147,515 shares of the company’s stock, valued at $13,205,542.80. This trade represents a 22.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,797 shares of company stock valued at $8,881,428 in the last ninety days. Insiders own 0.19% of the company’s stock.

Lumentum Price Performance

Shares of LITE opened at $92.92 on Monday. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of -11.22 and a beta of 0.95. Lumentum Holdings Inc. has a fifty-two week low of $38.28 and a fifty-two week high of $96.25. The firm has a 50-day simple moving average of $77.43 and a 200-day simple moving average of $61.59. The company has a debt-to-equity ratio of 2.87, a quick ratio of 4.04 and a current ratio of 5.36.

Lumentum 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.