Point72 DIFC Ltd acquired a new stake in Lumentum Holdings Inc. (NASDAQ:LITE – Free Report) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 698 shares of the technology company’s stock, valued at approximately $36,000.
A number of other hedge funds also recently added to or reduced their stakes in LITE. Vanguard Group Inc. raised its holdings in shares of Lumentum by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 7,218,293 shares of the technology company’s stock valued at $341,786,000 after purchasing an additional 22,088 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Lumentum by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,703,969 shares of the technology company’s stock worth $86,760,000 after buying an additional 130,838 shares in the last quarter. Earnest Partners LLC lifted its holdings in Lumentum by 6.0% during the first quarter. Earnest Partners LLC now owns 1,690,117 shares of the technology company’s stock worth $80,027,000 after buying an additional 95,428 shares during the period. Swedbank AB bought a new stake in Lumentum during the 1st quarter valued at $71,025,000. Finally, Van Lanschot Kempen Investment Management N.V. increased its holdings in shares of Lumentum by 17.8% in the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,154,805 shares of the technology company’s stock valued at $58,803,000 after acquiring an additional 174,828 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.
Lumentum Price Performance
NASDAQ LITE opened at $66.16 on Friday. The company has a market cap of $4.47 billion, a price-to-earnings ratio of -12.51, a PEG ratio of 4.83 and a beta of 0.88. The company has a debt-to-equity ratio of 2.61, a current ratio of 5.90 and a quick ratio of 4.43. The stock’s fifty day moving average price is $54.01 and its 200 day moving average price is $49.92. Lumentum Holdings Inc. has a 1 year low of $35.35 and a 1 year high of $66.22.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the company. Needham & Company LLC upped their price objective on Lumentum from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Bank of America raised their price target on shares of Lumentum from $45.00 to $50.00 and gave the company an “underperform” rating in a report on Thursday, August 15th. Barclays boosted their price objective on shares of Lumentum from $38.00 to $40.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. Jefferies Financial Group raised their target price on shares of Lumentum from $53.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, B. Riley lifted their price target on shares of Lumentum from $40.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $59.08.
Check Out Our Latest Stock Analysis on LITE
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.
Featured Articles
- Five stocks we like better than Lumentum
- What Are Some of the Best Large-Cap Stocks to Buy?
- When Is the Best Time to Invest in Mutual Funds?
- What is a support level?
- Is NVIDIA Stock in a Correction or Consolidation?
- The 3 Best Retail Stocks to Shop for in August
- 3 Oversold Stocks with Big RSI Rebound Potential
Want to see what other hedge funds are holding LITE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lumentum Holdings Inc. (NASDAQ:LITE – Free Report).
Receive News & Ratings for Lumentum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumentum and related companies with MarketBeat.com's FREE daily email newsletter.