Charles Schwab Investment Management Inc. Acquires 37,109 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Charles Schwab Investment Management Inc. lifted its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 5.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 738,155 shares of the technology company’s stock after acquiring an additional 37,109 shares during the period. Charles Schwab Investment Management Inc. owned 1.08% of Lumentum worth $46,784,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of LITE. John G Ullman & Associates Inc. lifted its stake in shares of Lumentum by 1.7% in the third quarter. John G Ullman & Associates Inc. now owns 87,670 shares of the technology company’s stock valued at $5,557,000 after buying an additional 1,432 shares during the period. King Luther Capital Management Corp lifted its position in Lumentum by 6.2% during the 3rd quarter. King Luther Capital Management Corp now owns 82,331 shares of the technology company’s stock valued at $5,218,000 after purchasing an additional 4,809 shares during the period. Whalen Wealth Management Inc. boosted its position in shares of Lumentum by 15.4% in the 3rd quarter. Whalen Wealth Management Inc. now owns 10,962 shares of the technology company’s stock worth $695,000 after purchasing an additional 1,462 shares during the last quarter. Quest Partners LLC grew its position in shares of Lumentum by 776,400.0% during the 3rd quarter. Quest Partners LLC now owns 7,765 shares of the technology company’s stock worth $492,000 after buying an additional 7,764 shares during the period. Finally, Chesapeake Capital Corp IL acquired a new stake in Lumentum in the third quarter worth $335,000. Institutional investors own 94.05% of the company’s stock.

Lumentum Stock Performance

Shares of LITE stock opened at $86.97 on Monday. The business’s 50-day moving average price is $72.09 and its 200-day moving average price is $58.36. The company has a current ratio of 5.36, a quick ratio of 4.04 and a debt-to-equity ratio of 2.87. Lumentum Holdings Inc. has a 12 month low of $38.28 and a 12 month high of $91.21. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of -10.50 and a beta of 0.88.

Insider Activity

In other Lumentum news, insider Vincent Retort sold 41,710 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $89.52, for a total transaction of $3,733,879.20. Following the completion of the sale, the insider now owns 147,515 shares of the company’s stock, valued at approximately $13,205,542.80. This represents a 22.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Harold L. Covert sold 15,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $87.17, for a total transaction of $1,307,550.00. Following the completion of the transaction, the director now owns 8,761 shares in the company, valued at approximately $763,696.37. The trade was a 63.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,910 shares of company stock valued at $6,339,239. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Lumentum from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Morgan Stanley raised their price objective on Lumentum from $61.00 to $76.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Needham & Company LLC upped their price target on shares of Lumentum from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Susquehanna raised their price target on shares of Lumentum from $80.00 to $115.00 and gave the stock a “positive” rating in a research report on Friday, November 8th. Finally, Rosenblatt Securities raised their price target on Lumentum from $69.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $74.85.

Lumentum 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 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.