Russell Investments Group Ltd. Sells 170,329 Shares of Lumentum Holdings Inc. (LITE)

Russell Investments Group Ltd. lessened its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 50.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 169,548 shares of the technology company’s stock after selling 170,329 shares during the period. Russell Investments Group Ltd. owned about 0.27% of Lumentum worth $9,216,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Kennedy Capital Management Inc. lifted its stake in shares of Lumentum by 24.2% in the 2nd quarter. Kennedy Capital Management Inc. now owns 383,304 shares of the technology company’s stock worth $21,867,000 after purchasing an additional 74,769 shares during the period. Shelton Capital Management bought a new position in shares of Lumentum in the 2nd quarter worth approximately $314,000. Alliancebernstein L.P. lifted its stake in shares of Lumentum by 14.5% in the 2nd quarter. Alliancebernstein L.P. now owns 2,102,853 shares of the technology company’s stock worth $119,968,000 after purchasing an additional 265,723 shares during the period. Chicago Equity Partners LLC lifted its stake in shares of Lumentum by 20.1% in the 2nd quarter. Chicago Equity Partners LLC now owns 14,655 shares of the technology company’s stock worth $836,000 after purchasing an additional 2,455 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in shares of Lumentum by 60.5% in the 2nd quarter. Wells Fargo & Company MN now owns 110,876 shares of the technology company’s stock worth $6,326,000 after purchasing an additional 41,808 shares during the period. Hedge funds and other institutional investors own 95.70% of the company’s stock.

Several equities analysts have recently weighed in on LITE shares. B. Riley reiterated a “buy” rating and issued a $81.00 price objective on shares of Lumentum in a research note on Tuesday, August 8th. UBS raised their target price on shares of Lumentum from $66.00 to $70.00 in a research note on Wednesday, August 9th. Craig Hallum restated a “buy” rating and set a $75.00 target price on shares of Lumentum in a research note on Wednesday, August 9th. Rosenblatt Securities set a $70.00 target price on shares of Lumentum and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $68.00 target price on shares of Lumentum in a research note on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. Lumentum presently has an average rating of “Buy” and a consensus target price of $68.06.

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) opened at $47.15 on Wednesday. The stock has a market cap of $2,923.30, a P/E ratio of 32.97, a PEG ratio of 0.86 and a beta of 0.83. The company has a current ratio of 5.21, a quick ratio of 4.38 and a debt-to-equity ratio of 0.50. Lumentum Holdings Inc. has a 1 year low of $34.15 and a 1 year high of $68.63.

In other news, COO Vincent Retort sold 30,706 shares of Lumentum stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $54.46, for a total transaction of $1,672,248.76. Following the sale, the chief operating officer now owns 110,770 shares in the company, valued at $6,032,534.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Aaron Tachibana sold 1,248 shares of Lumentum stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $60.00, for a total transaction of $74,880.00. Following the sale, the chief financial officer now owns 69,830 shares in the company, valued at approximately $4,189,800. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,891 shares of company stock worth $3,675,432. Company insiders own 0.76% of the company’s stock.

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About Lumentum

Lumentum Holdings Inc is a provider of optical and photonic products for a range of end market applications, including data communications (Datacom) and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Company operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers).

Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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