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

Mutual of America Capital Management LLC reduced its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 5.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,698 shares of the technology company’s stock after selling 2,008 shares during the period. Mutual of America Capital Management LLC’s holdings in Lumentum were worth $2,326,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LITE. Vanguard Group Inc. lifted its holdings in Lumentum by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 7,218,293 shares of the technology company’s stock worth $341,786,000 after buying an additional 22,088 shares during the period. Swedbank AB bought a new position in shares of Lumentum during the first quarter valued at approximately $71,025,000. International Assets Investment Management LLC lifted its stake in Lumentum by 6,238.0% in the third quarter. International Assets Investment Management LLC now owns 21,169 shares of the technology company’s stock worth $1,342,000 after acquiring an additional 20,835 shares during the period. DigitalBridge Group Inc. boosted its holdings in Lumentum by 10.9% in the second quarter. DigitalBridge Group Inc. now owns 554,529 shares of the technology company’s stock valued at $28,237,000 after acquiring an additional 54,703 shares in the last quarter. Finally, JB Capital LLC increased its position in Lumentum by 85.0% during the 2nd quarter. JB Capital LLC now owns 31,069 shares of the technology company’s stock valued at $1,582,000 after purchasing an additional 14,271 shares during the period. 94.05% of the stock is owned by institutional investors.

Lumentum Trading Up 4.1 %

Lumentum stock opened at $89.09 on Monday. The firm has a market cap of $6.12 billion, a PE ratio of -10.76 and a beta of 0.88. Lumentum Holdings Inc. has a 12 month low of $38.28 and a 12 month high of $90.51. The stock’s 50 day simple moving average is $69.43 and its two-hundred day simple moving average is $56.99. The company has a current ratio of 5.36, a quick ratio of 4.04 and a debt-to-equity ratio of 2.87.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Raymond James raised their target price on shares of Lumentum from $70.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. B. Riley raised their price objective on shares of Lumentum from $40.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. upped their target price on Lumentum from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Barclays raised their price target on Lumentum from $40.00 to $80.00 and gave the company an “underweight” rating in a report on Monday, November 11th. Finally, Jefferies Financial Group raised their target price on shares of Lumentum from $53.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Three investment 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, Lumentum currently has a consensus rating of “Hold” and a consensus price target of $74.85.

Insider Activity at Lumentum

In related news, CAO Matthew Joseph Sepe sold 8,172 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $87.60, for a total value of $715,867.20. Following the completion of the transaction, the chief accounting officer now owns 21,138 shares of the company’s stock, valued at approximately $1,851,688.80. This represents a 27.88 % 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 stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $87.17, for a total value of $1,307,550.00. Following the transaction, the director now owns 8,761 shares in the company, valued at $763,696.37. This represents a 63.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,142 shares of company stock worth $2,428,743 in the last three months. Company insiders own 0.19% of the company’s stock.

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.