SeaCrest Wealth Management LLC acquired a new stake in Lumentum Holdings Inc. (NASDAQ:LITE – Get Rating) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 585 shares of the technology company’s stock, valued at approximately $46,000.
Other large investors also recently modified their holdings of the company. Urban Wealth Management LLC bought a new position in shares of Lumentum in the second quarter valued at about $29,000. Twin Tree Management LP acquired a new position in shares of Lumentum in the first quarter valued at about $36,000. Assetmark Inc. acquired a new position in shares of Lumentum in the second quarter valued at about $30,000. CWM LLC grew its stake in shares of Lumentum by 184.5% in the second quarter. CWM LLC now owns 623 shares of the technology company’s stock valued at $49,000 after acquiring an additional 404 shares in the last quarter. Finally, Elequin Capital LP acquired a new position in shares of Lumentum in the first quarter valued at about $80,000. 95.49% of the stock is owned by institutional investors.
Lumentum Stock Up 1.3 %
LITE stock opened at $56.20 on Monday. The firm has a 50-day moving average price of $69.65 and a 200-day moving average price of $79.59. The stock has a market capitalization of $3.83 billion, a P/E ratio of 35.57, a price-to-earnings-growth ratio of 2.24 and a beta of 0.99. Lumentum Holdings Inc. has a 12 month low of $54.40 and a 12 month high of $108.90. The company has a current ratio of 3.04, a quick ratio of 2.58 and a debt-to-equity ratio of 1.24.
Insider Activity at Lumentum
Analyst Ratings Changes
Several research firms recently commented on LITE. Susquehanna decreased their price target on shares of Lumentum from $100.00 to $85.00 in a research note on Wednesday, November 9th. B. Riley reduced their price objective on shares of Lumentum from $119.00 to $90.00 in a research note on Wednesday, November 9th. Northland Securities reiterated a “market perform” rating and set a $55.00 price objective (down from $120.00) on shares of Lumentum in a research note on Wednesday, November 9th. Raymond James reduced their price objective on shares of Lumentum from $107.00 to $85.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 9th. Finally, Bank of America downgraded shares of Lumentum from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $84.00 to $62.00 in a research note on Friday, November 11th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $79.08.
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 in 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.It offers tunable transponders, transceivers, and transmitter modules; tunable lasers, receivers, and modulators; transport products, such as reconfigurable optical add/drop multiplexers, amplifiers, and optical channel monitors, as well as components, including 980nm, multi-mode, and Raman pumps; and switches, attenuators, photodetectors, gain flattening filters, isolators, wavelength-division multiplexing filters, arrayed waveguide gratings, multiplex/de-multiplexers, and integrated passive modules.
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