Intech Investment Management LLC Sells 6,113 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Intech Investment Management LLC lessened its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 54.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,208 shares of the technology company’s stock after selling 6,113 shares during the period. Intech Investment Management LLC’s holdings in Lumentum were worth $330,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LITE. Van Lanschot Kempen Investment Management N.V. lifted its stake in shares of Lumentum by 17.8% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,154,805 shares of the technology company’s stock worth $58,803,000 after buying an additional 174,828 shares in the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of Lumentum by 50.4% during the third quarter. Pinnacle Associates Ltd. now owns 407,789 shares of the technology company’s stock valued at $25,846,000 after purchasing an additional 136,659 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Lumentum by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,703,969 shares of the technology company’s stock valued at $86,760,000 after purchasing an additional 130,838 shares during the last quarter. Hodges Capital Management Inc. purchased a new position in shares of Lumentum during the second quarter valued at approximately $5,642,000. Finally, Caxton Associates LP raised its holdings in shares of Lumentum by 128.6% during the second quarter. Caxton Associates LP now owns 160,330 shares of the technology company’s stock valued at $8,164,000 after purchasing an additional 90,185 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Insider Buying and Selling

In related news, insider Vincent Retort sold 41,710 shares of the company’s stock in a transaction 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 transaction, the insider now owns 147,515 shares in the company, valued at approximately $13,205,542.80. This represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Penny Herscher sold 1,625 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $81.09, for a total transaction of $131,771.25. Following the transaction, the director now owns 6,852 shares of the company’s stock, valued at $555,628.68. This trade represents a 19.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,797 shares of company stock worth $8,881,428. 0.19% of the stock is owned by insiders.

Lumentum Price Performance

LITE opened at $88.70 on Wednesday. Lumentum Holdings Inc. has a 1-year low of $38.28 and a 1-year high of $91.21. The company has a 50 day simple moving average of $72.59 and a two-hundred day simple moving average of $58.73. The company has a current ratio of 5.36, a quick ratio of 4.04 and a debt-to-equity ratio of 2.87.

Analysts Set New Price Targets

LITE has been the subject of several research reports. Rosenblatt Securities boosted their price objective on shares of Lumentum from $69.00 to $110.00 and gave the company a “buy” rating in a report on Friday, November 8th. B. Riley boosted their price objective on shares of Lumentum from $40.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Northland Securities upped their target price on shares of Lumentum from $45.00 to $60.00 and gave the company a “market perform” rating in a report on Friday, November 8th. Susquehanna upped their target price on shares of Lumentum from $80.00 to $115.00 and gave the company a “positive” rating in a report on Friday, November 8th. Finally, Jefferies Financial Group upped their target price on shares of Lumentum from $53.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Three analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $74.85.

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.