Fisher Asset Management LLC Sells 808 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Fisher Asset Management LLC lowered its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 0.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 578,571 shares of the technology company’s stock after selling 808 shares during the period. Fisher Asset Management LLC owned 0.84% of Lumentum worth $36,670,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in LITE. Signaturefd LLC lifted its stake in Lumentum by 13.8% in the third quarter. Signaturefd LLC now owns 1,302 shares of the technology company’s stock valued at $83,000 after acquiring an additional 158 shares during the last quarter. Mcdonald Partners LLC raised its holdings in shares of Lumentum by 1.6% in the 2nd quarter. Mcdonald Partners LLC now owns 19,830 shares of the technology company’s stock valued at $1,010,000 after purchasing an additional 318 shares during the period. Arizona State Retirement System lifted its stake in Lumentum by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 18,868 shares of the technology company’s stock valued at $961,000 after purchasing an additional 455 shares during the last quarter. Capital Performance Advisors LLP bought a new position in Lumentum during the third quarter worth about $33,000. Finally, GAMMA Investing LLC increased its position in Lumentum by 141.6% during the third quarter. GAMMA Investing LLC now owns 894 shares of the technology company’s stock worth $57,000 after buying an additional 524 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Lumentum Price Performance

Lumentum stock opened at $86.98 on Wednesday. The firm has a market cap of $5.98 billion, a PE ratio of -10.50 and a beta of 0.88. The company has a debt-to-equity ratio of 2.87, a current ratio of 5.36 and a quick ratio of 4.04. The stock’s fifty day moving average price is $70.04 and its two-hundred day moving average price is $57.30. Lumentum Holdings Inc. has a one year low of $38.28 and a one year high of $91.21.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Rosenblatt Securities raised their price objective on Lumentum from $69.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Northland Securities lifted their price objective on shares of Lumentum from $45.00 to $60.00 and gave the stock a “market perform” rating in a research report on Friday, November 8th. Susquehanna increased their price objective on shares of Lumentum from $80.00 to $115.00 and gave the company a “positive” rating in a research report on Friday, November 8th. Barclays lifted their target price on shares of Lumentum from $40.00 to $80.00 and gave the stock an “underweight” rating in a report on Monday, November 11th. Finally, Bank of America increased their price target on shares of Lumentum from $45.00 to $50.00 and gave the company an “underperform” rating in a report on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Lumentum currently has an average rating of “Hold” and an average target price of $74.85.

Insider Buying and Selling

In other Lumentum news, Director Julia Suzanne Johnson sold 2,058 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $85.82, for a total value of $176,617.56. Following the sale, the director now owns 23,287 shares of the company’s stock, valued at approximately $1,998,490.34. This trade represents a 8.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Harold L. Covert sold 15,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $87.17, for a total value of $1,307,550.00. Following the transaction, the director now directly owns 8,761 shares of the company’s stock, valued at $763,696.37. This trade represents a 63.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,910 shares of company stock worth $6,339,239. Company insiders own 0.19% of the company’s stock.

About Lumentum

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.