Mutual of America Capital Management LLC Cuts Holdings in Lumentum Holdings Inc. (NASDAQ:LITE)

Mutual of America Capital Management LLC decreased its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,698 shares of the technology company’s stock after selling 2,008 shares during the period. Mutual of America Capital Management LLC owned 0.05% of Lumentum worth $2,326,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Lumentum by 0.3% during the first quarter. Vanguard Group Inc. now owns 7,218,293 shares of the technology company’s stock worth $341,786,000 after acquiring an additional 22,088 shares during the period. Kennedy Capital Management LLC boosted its holdings in shares of Lumentum by 23.0% in the 1st quarter. Kennedy Capital Management LLC now owns 75,513 shares of the technology company’s stock worth $3,576,000 after buying an additional 14,132 shares during the last quarter. Swedbank AB bought a new position in Lumentum during the first quarter valued at about $71,025,000. Keynote Financial Services LLC purchased a new stake in Lumentum during the first quarter worth about $361,000. Finally, Thompson Investment Management Inc. raised its position in Lumentum by 63.0% in the second quarter. Thompson Investment Management Inc. now owns 116,410 shares of the technology company’s stock worth $5,928,000 after acquiring an additional 44,981 shares during the period. Institutional investors own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Craig Hallum raised their price target on shares of Lumentum from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. boosted their target price on Lumentum from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Susquehanna increased their price target on Lumentum from $80.00 to $115.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Raymond James boosted their price objective on Lumentum from $70.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, B. Riley increased their target price on shares of Lumentum from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Three 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $74.85.

Lumentum Trading Up 4.1 %

Lumentum stock opened at $89.09 on Monday. The company has a debt-to-equity ratio of 2.87, a quick ratio of 4.04 and a current ratio of 5.36. Lumentum Holdings Inc. has a fifty-two week low of $38.28 and a fifty-two week high of $90.51. The stock has a market cap of $6.12 billion, a P/E ratio of -10.76 and a beta of 0.88. The firm’s fifty day moving average price is $69.43 and its 200-day moving average price is $56.99.

Insiders Place Their Bets

In related news, Director Harold L. Covert sold 15,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $87.17, for a total value of $1,307,550.00. Following the completion of the transaction, the director now directly owns 8,761 shares in the company, valued at approximately $763,696.37. The trade was a 63.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Penny Herscher sold 1,625 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $81.09, for a total value of $131,771.25. Following the sale, the director now owns 6,852 shares in the company, valued at $555,628.68. The trade was a 19.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,142 shares of company stock worth $2,428,743 in the last ninety days. 0.19% of the stock is currently owned by insiders.

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.