The most recent 13F filing that Lumentum Holdings Inc. made with the Securities and Exchange Commission revealed that during the third quarter of 2018, the State of New Jersey Common Pension Fund D reduced its stake in Lumentum Holdings Inc. (NASDAQ: LITE) by 9.5%. Following the sale of 3,889 technology company stock shares throughout the period, the institutional investor held 36,993 shares at the end. Nearly 0.05% of Lumentum, which had a market value of $2,537,000 at the end of the most recent reporting period, was owned by the State of New Jersey Common Pension Fund D.
During the most recent few months, the company’s stocks have been actively traded between various hedge funds. In the second quarter, approximately 68,549,000 dollars were put forth by Whale Rock Capital Management LLC to increase its percentage of ownership in Lumentum. During the first three months of the year, Dimensional Fund Advisors LP saw a 7.2% increase in the value of its holdings in Lumentum. After purchasing 53,978 additional shares during the most recent fiscal quarter, Dimensional Fund Advisors LP now owns 805,662 of the technology company’s shares, which have a value of $78,633,000. These shares were acquired to bring the total number of shares owned by the firm to 805,662. The Northern Trust Corporation acquired an additional 35.5 percent of Lumentum during the first three months of the year. Northern Trust Corp. now has a total of 801,223 shares of the technology company’s stock, which are currently valued at $78,198 after the company made an additional purchase of 209,728 shares during the most recent quarter. During the first three months of 2018, Earnest Partners LLC’s holding portfolio saw an increase of 576.4% in the number of shares of Lumentum. After making purchases totaling 579,835 shares during the most recent quarter, Earnest Partners LLC now has a total of 680,435 shares of the stock held by the technology company. The total value of the stock holdings owned by Earnest Partners LLC is $66,410,000. In the first three months of 2018, Charles Schwab Investment Management Inc. increased the amount of Lumentum stock owned by 3.2%, which brings us to our last point. Charles Schwab Investment Management Inc. now has a total of 642,701 shares of the technology company’s stock after purchasing an additional 20,036 shares during the most recent quarter. The stock has an estimated market value of $62,728,000, and Charles Schwab Investment Management Inc. owns 92.46% of the company’s shares. Hedge funds and other institutional investors are the owners of those shares.
Recent scholarly articles have identified LITE as a research topic, and they have focused their attention on it. Northland Securities reaffirmed their “market perform” rating on shares of Lumentum on Wednesday, November 9th and lowered their price objective for the company to $55.00 (it was previously set at $120.00). Northland Securities also lowered its price objective for the company. B. Riley stated their intention to reduce their price target for Lumentum from $119.00 to $90.00 in a research note published on November 9th. In a research note published on November 9th, Rosenblatt Securities lowered their “buy” rating and price objective on Lumentum from $125.00 to $80.00. The previous price objective was $125.00. Bank of America lowered their price target for Lumentum from $80.00 to $62.00 and changed their rating for the company from “buy” to “neutral” in a research note published on Friday, November 11th. In a research note published on Tuesday, December 13th, Morgan Stanley lowered their price objective on Lumentum from $75 to $66 and classified the stock as “equal weight.” Seven market analysts have assigned the company a buy rating, while six have suggested that shareholders maintain their current holdings of the company’s stock. According to Bloomberg.com, the general opinion regarding the stock is that it is currently a “Moderate Buy,” and the general opinion regarding the price objective for the stock is that it is currently a consensus of $72.64.
LITE trading began Monday for $57.58 when it opened for business. The company has a price-to-earnings ratio of 36.44, a price-to-earnings-growth ratio of 2.34, and a beta value is 0.93. These ratios measure how much a company’s share price relates to its earnings per share. The company currently has a market capitalization of 3.93 billion dollars. The stock price has reached $54.50 on its moving average over the past 50 days, while the price has reached $70.89 on its moving average over the past 200 days. There is a ratio of 1.24 for debt to equity, a ratio of 2.58 for the quick ratio to the current ratio, a ratio of 3.04 for the current ratio to the quick ratio, and so on. Lumentum Holdings Inc. hit a low of $48.73 over the past year, while the company reached a high of $106.65 over the same period.
Lumentum (NASDAQ: LITE) gave the public its most recent earnings report on November 8th, which was released to the public. The technology company reported earnings per share (EPS) of $1.19 for the quarter, which is $0.01 higher than the consensus projection that analysts had made, which was $1.18. The return on equity for Lumentum is 17.99%, and the net margin for the company is 6.61%. The company’s sales for the quarter came in at $506.80 million, which is substantially higher than the industry analysts’ predictions, which were $505.55 million for the company sales quarter. Lumentum Holdings Inc. is projected to achieve earnings of $3.14 per share in 2018, according to projections made available by equity analysts.
Lumentum Holdings Inc. is in charge of producing optical and photonic products and their sales in the Americas, Asia-Pacific, Europe, the Middle East, and Africa. The business comprises commercial lasers and optical communications (OpComms), both divisions of the same company (lasers). It is possible to communicate and transport video, audio, and data across high-capacity fiber optic cables due to the components, modules, and subsystems that are a part of the OpComms division. These can be found in the OpComms division. Additionally, in addition to tunable transponders, transceivers, and transmitter modules, it offers tunable lasers, receivers, and modulators. In addition, it provides products such as switches, attenuators, photodetectors, gain flattening filters, isolators, wavelength-division multiplexing filters, arrayed waveguide gratings, multiplexers, and de-multiplexers. Furthermore, it offers transport products such as reconfigurable optical add-drop multiplexers, amplifiers, and optical channel monitors.
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