Tidal Investments LLC Has $1.18 Million Holdings in Lumentum Holdings Inc. (NASDAQ:LITE)

Tidal Investments LLC increased its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 35.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,669 shares of the technology company’s stock after acquiring an additional 4,899 shares during the period. Tidal Investments LLC’s holdings in Lumentum were worth $1,183,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Quarry LP grew its holdings in shares of Lumentum by 85.5% in the 3rd quarter. Quarry LP now owns 436 shares of the technology company’s stock valued at $28,000 after acquiring an additional 201 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Lumentum during the third quarter valued at approximately $33,000. Point72 DIFC Ltd bought a new position in Lumentum in the second quarter valued at approximately $36,000. Nomura Asset Management Co. Ltd. increased its position in shares of Lumentum by 67.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company’s stock worth $42,000 after purchasing an additional 270 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Lumentum by 141.6% during the 3rd quarter. GAMMA Investing LLC now owns 894 shares of the technology company’s stock worth $57,000 after purchasing an additional 524 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on LITE shares. Barclays lifted their price objective on shares of Lumentum from $40.00 to $80.00 and gave the company an “underweight” rating in a research report on Monday, November 11th. Raymond James lifted their price target on Lumentum from $70.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Morgan Stanley raised their price objective on Lumentum from $76.00 to $83.00 and gave the company an “equal weight” rating in a research report on Tuesday. Susquehanna lifted their target price on Lumentum from $80.00 to $115.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Finally, Rosenblatt Securities increased their price target on Lumentum from $69.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Three investment 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $75.38.

Insider Activity at Lumentum

In related news, CAO Matthew Joseph Sepe sold 8,172 shares of the 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 completion of the transaction, the chief accounting officer now directly owns 21,138 shares of the company’s stock, valued at $1,851,688.80. This represents a 27.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Vincent Retort sold 41,710 shares of Lumentum stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $89.52, for a total value of $3,733,879.20. Following the sale, the insider now owns 147,515 shares in the company, valued at $13,205,542.80. This represents a 22.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,797 shares of company stock valued at $8,881,428. Insiders own 0.19% of the company’s stock.

Lumentum Trading Up 0.8 %

Shares of LITE opened at $83.56 on Friday. Lumentum Holdings Inc. has a 1-year low of $38.28 and a 1-year high of $96.25. The company has a debt-to-equity ratio of 2.87, a current ratio of 5.36 and a quick ratio of 4.04. The company has a market capitalization of $5.74 billion, a P/E ratio of -10.09 and a beta of 0.95. The firm’s 50 day simple moving average is $79.00 and its 200 day simple moving average is $62.55.

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.