Cambridge Investment Research Advisors Inc. Buys 17,562 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Cambridge Investment Research Advisors Inc. lifted its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 234.0% in the second quarter, HoldingsChannel reports. The fund owned 25,066 shares of the technology company’s stock after acquiring an additional 17,562 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Lumentum were worth $2,056,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Dorsey & Whitney Trust CO LLC grew its stake in shares of Lumentum by 5.8% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 2,799 shares of the technology company’s stock valued at $256,000 after acquiring an additional 153 shares during the period. Arizona State Retirement System grew its stake in shares of Lumentum by 0.7% during the 1st quarter. Arizona State Retirement System now owns 21,967 shares of the technology company’s stock valued at $2,007,000 after acquiring an additional 159 shares during the period. Xponance Inc. grew its stake in shares of Lumentum by 1.9% during the 1st quarter. Xponance Inc. now owns 8,900 shares of the technology company’s stock valued at $813,000 after acquiring an additional 167 shares during the period. IFP Advisors Inc grew its stake in shares of Lumentum by 32.5% during the 2nd quarter. IFP Advisors Inc now owns 758 shares of the technology company’s stock valued at $61,000 after acquiring an additional 186 shares during the period. Finally, Kovack Advisors Inc. grew its stake in shares of Lumentum by 6.3% during the 2nd quarter. Kovack Advisors Inc. now owns 3,720 shares of the technology company’s stock valued at $305,000 after acquiring an additional 219 shares during the period. Institutional investors own 87.83% of the company’s stock.

A number of research analysts recently commented on the company. MKM Partners boosted their price target on Lumentum from $86.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, August 19th. Craig Hallum boosted their price target on Lumentum from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 19th. Loop Capital boosted their price target on Lumentum from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 19th. Rosenblatt Securities boosted their price target on Lumentum from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, August 19th. Finally, Zacks Investment Research raised Lumentum from a “sell” rating to a “hold” rating in a report on Tuesday, July 20th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $96.76.

NASDAQ:LITE opened at $86.58 on Friday. The stock’s fifty day moving average is $84.19 and its 200 day moving average is $84.38. Lumentum Holdings Inc. has a fifty-two week low of $65.67 and a fifty-two week high of $112.08. The firm has a market capitalization of $6.29 billion, a PE ratio of 17.14 and a beta of 0.92. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.37 and a current ratio of 3.67.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, August 17th. The technology company reported $1.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.09. Lumentum had a return on equity of 20.42% and a net margin of 22.80%. The company had revenue of $392.10 million for the quarter, compared to analyst estimates of $382.17 million. During the same quarter in the prior year, the firm posted $1.18 EPS. Lumentum’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities analysts forecast that Lumentum Holdings Inc. will post 4.58 EPS for the current year.

In other Lumentum news, CFO Wajid Ali sold 5,659 shares of the company’s stock in a transaction on Friday, August 20th. The stock was sold at an average price of $85.05, for a total value of $481,297.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Matthew Joseph Sepe sold 3,145 shares of the company’s stock in a transaction on Monday, August 23rd. The shares were sold at an average price of $86.37, for a total value of $271,633.65. The disclosure for this sale can be found here. Insiders have sold a total of 25,146 shares of company stock worth $2,144,141 in the last 90 days. 0.32% of the stock is currently owned by insiders.

Lumentum Company Profile

Lumentum Holdings, Inc engages in the provision of optical and photonic products. It operates through the Optical Communications (OpComms) and Commercial Lasers segments. The OpComms segment includes a range of components, modules, and subsystems to support customers including carrier networks of access (local), metro (intracity), long-haul (city-to-city and worldwide), and submarine (undersea) applications.

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Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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