Geode Capital Management LLC Has $75.20 Million Holdings in Lumentum Holdings Inc. (NASDAQ:LITE)

Geode Capital Management LLC grew its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,186,163 shares of the technology company’s stock after purchasing an additional 15,799 shares during the quarter. Geode Capital Management LLC owned about 1.73% of Lumentum worth $75,198,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in LITE. Dimensional Fund Advisors LP grew its holdings in Lumentum by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,703,969 shares of the technology company’s stock valued at $86,760,000 after buying an additional 130,838 shares in the last quarter. Atreides Management LP boosted its stake in shares of Lumentum by 28.5% in the third quarter. Atreides Management LP now owns 1,691,017 shares of the technology company’s stock valued at $107,177,000 after buying an additional 375,389 shares during the period. Divisar Capital Management LLC increased its stake in Lumentum by 5.8% during the 2nd quarter. Divisar Capital Management LLC now owns 961,574 shares of the technology company’s stock worth $48,963,000 after acquiring an additional 52,300 shares during the period. Charles Schwab Investment Management Inc. raised its stake in 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 purchasing an additional 37,109 shares in the last quarter. Finally, DigitalBridge Group Inc. lifted its holdings in shares of Lumentum by 10.9% during the 2nd quarter. DigitalBridge Group Inc. now owns 554,529 shares of the technology company’s stock worth $28,237,000 after acquiring an additional 54,703 shares during the period. Institutional investors own 94.05% of the company’s stock.

Insiders Place Their Bets

In other Lumentum news, insider Vincent Retort sold 41,710 shares of the business’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 sale, the insider now owns 147,515 shares in the company, valued at approximately $13,205,542.80. The trade was a 22.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Wajid Ali sold 29,887 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $85.06, for a total transaction of $2,542,188.22. Following the completion of the transaction, the chief financial officer now directly owns 56,492 shares in the company, valued at $4,805,209.52. This trade represents a 34.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,797 shares of company stock worth $8,881,428. 0.19% of the stock is currently owned by company insiders.

Analyst Ratings Changes

LITE has been the topic of a number of research analyst reports. Rosenblatt Securities raised their target price on Lumentum from $69.00 to $110.00 and gave the company a “buy” rating in a report on Friday, November 8th. Morgan Stanley boosted their price objective on Lumentum from $76.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Barclays increased their target price on Lumentum from $40.00 to $80.00 and gave the company an “underweight” rating in a research report on Monday, November 11th. Raymond James upped 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, Northland Securities boosted their target price on shares of Lumentum from $45.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, November 8th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $75.38.

Lumentum Price Performance

Shares of LITE opened at $85.08 on Friday. The firm has a market cap of $5.84 billion, a PE ratio of -10.28 and a beta of 0.95. Lumentum Holdings Inc. has a 52-week low of $38.28 and a 52-week high of $96.25. The company has a debt-to-equity ratio of 2.87, a quick ratio of 4.04 and a current ratio of 5.36. The business’s 50 day moving average price is $79.00 and its two-hundred day moving average price is $62.55.

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.