National Bank of Canada FI Has $28,000 Stock Position in Lumentum Holdings Inc. (NASDAQ:LITE)

National Bank of Canada FI cut its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 40.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 447 shares of the technology company’s stock after selling 300 shares during the quarter. National Bank of Canada FI’s holdings in Lumentum were worth $28,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Atom Investors LP bought a new position in shares of Lumentum during the third quarter worth approximately $4,127,000. Two Sigma Advisers LP increased its position in Lumentum by 24.7% during the 3rd quarter. Two Sigma Advisers LP now owns 186,600 shares of the technology company’s stock worth $11,827,000 after buying an additional 37,000 shares during the period. West Tower Group LLC bought a new position in Lumentum during the 3rd quarter worth $444,000. Quest Partners LLC lifted its holdings in shares of Lumentum by 776,400.0% during the third 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Lumentum by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 738,155 shares of the technology company’s stock valued at $46,784,000 after acquiring an additional 37,109 shares during the period. Institutional investors own 94.05% of the company’s stock.

Lumentum Stock Down 6.8 %

Shares of NASDAQ LITE opened at $82.90 on Thursday. The company has a market cap of $5.70 billion, a price-to-earnings ratio of -10.01 and a beta of 0.95. 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 $96.25. The stock has a 50-day moving average price of $78.67 and a two-hundred day moving average price of $62.40.

Insider Activity at Lumentum

In other news, Director Julia Suzanne Johnson sold 2,058 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $85.82, for a total transaction of $176,617.56. Following the sale, the director now directly owns 23,287 shares in the company, valued at approximately $1,998,490.34. The trade was a 8.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Harold L. Covert sold 15,000 shares of the company’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 value of $1,307,550.00. Following the completion of the transaction, the director now directly owns 8,761 shares of the company’s stock, valued at $763,696.37. This represents a 63.13 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,797 shares of company stock valued at $8,881,428. 0.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on LITE. Raymond James lifted their price objective on shares of Lumentum from $70.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Barclays raised 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. Susquehanna boosted their price target on Lumentum from $80.00 to $115.00 and gave the company a “positive” rating in a research note on Friday, November 8th. Northland Securities raised their price objective on Lumentum from $45.00 to $60.00 and gave the stock a “market perform” rating in a research note on Friday, November 8th. Finally, Rosenblatt Securities lifted their price objective on Lumentum from $69.00 to $110.00 and gave the company a “buy” rating in a report on Friday, November 8th. Three analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $75.38.

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.