Pathstone Holdings LLC Sells 979 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Pathstone Holdings LLC decreased its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 1.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,583 shares of the technology company’s stock after selling 979 shares during the period. Pathstone Holdings LLC’s holdings in Lumentum were worth $3,269,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Signaturefd LLC boosted its position in Lumentum by 13.8% during the third quarter. Signaturefd LLC now owns 1,302 shares of the technology company’s stock valued at $83,000 after purchasing an additional 158 shares during the last quarter. Mcdonald Partners LLC boosted 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 buying an additional 318 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Lumentum by 2.5% in the second quarter. Arizona State Retirement System now owns 18,868 shares of the technology company’s stock valued at $961,000 after buying an additional 455 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Lumentum during the third quarter worth $33,000. Finally, GAMMA Investing LLC raised 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 acquiring an additional 524 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Lumentum Stock Up 4.1 %

NASDAQ LITE opened at $89.09 on Monday. The company has a current ratio of 5.36, a quick ratio of 4.04 and a debt-to-equity ratio of 2.87. The company has a market cap of $6.12 billion, a price-to-earnings ratio of -10.76 and a beta of 0.88. The company has a 50 day moving average of $69.43 and a 200-day moving average of $56.99. Lumentum Holdings Inc. has a 1-year low of $38.28 and a 1-year high of $90.51.

Insiders Place Their Bets

In other Lumentum news, CAO Matthew Joseph Sepe sold 8,172 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $87.60, for a total value of $715,867.20. Following the transaction, the chief accounting officer now directly owns 21,138 shares of the company’s stock, valued at $1,851,688.80. This trade represents a 27.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 that occurred 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 of the company’s stock, valued at $763,696.37. The trade was a 63.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,142 shares of company stock worth $2,428,743 in the last 90 days. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on LITE shares. JPMorgan Chase & Co. boosted their price objective on shares of Lumentum from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Rosenblatt Securities boosted 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. Northland Securities raised their price objective on Lumentum from $45.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, November 8th. B. Riley boosted their target price on Lumentum from $40.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Finally, Jefferies Financial Group raised their price target on 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 issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average 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.