Lumentum Holdings Inc (LITE) : Summit Partners Public Asset Management added new position in Lumentum Holdings Inc during the most recent quarter end. The investment management firm now holds 300,000 shares of Lumentum Holdings Inc which is valued at $9,816,000 , the company said in a statement filed on Aug 15, 2016 with the SEC.Lumentum Holdings Inc makes up approximately 3.37% of Summit Partners Public Asset Management’s portfolio.
Other Hedge Funds, Including , Voya Investment Management boosted its stake in LITE in the latest quarter, The investment management firm added 7,327 additional shares and now holds a total of 22,270 shares of Lumentum Holdings Inc which is valued at $728,674.Pinebridge Investments boosted its stake in LITE in the latest quarter, The investment management firm added 239 additional shares and now holds a total of 6,015 shares of Lumentum Holdings Inc which is valued at $196,811. Lumentum Holdings Inc makes up approx 0.01% of Pinebridge Investments’s portfolio.Focused Wealth Management Inc reduced its stake in LITE by selling 71 shares or 50.0% in the most recent quarter. The Hedge Fund company now holds 71 shares of LITE which is valued at $2,323.Skylands Capital boosted its stake in LITE in the latest quarter, The investment management firm added 3,450 additional shares and now holds a total of 20,150 shares of Lumentum Holdings Inc which is valued at $623,240. Lumentum Holdings Inc makes up approx 0.10% of Skylands Capital’s portfolio. Old Mutual Global Investors (uk) Ltd. sold out all of its stake in LITE during the most recent quarter. The investment firm sold 85,446 shares of LITE which is valued $2,348,911.
On the company’s financial health, Lumentum Holdings Inc reported $0.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.36. The company had revenue of $241.70 million for the quarter, compared to analysts expectations of $238.52 million. The company’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS.
Many Wall Street Analysts have commented on Lumentum Holdings Inc. Lumentum Holdings Inc was Downgraded by Morgan Stanley to ” Underweight” on Aug 11, 2016. Company shares were Reiterated by Barclays on Aug 10, 2016 to “Underweight”, Firm has raised the Price Target to $ 30 from a previous price target of $23 .Company shares were Reiterated by Stifel on Aug 10, 2016 to “Buy”, Firm has raised the Price Target to $ 42 from a previous price target of $31 .
Lumentum Holdings Inc. (Lumentum) is a provider of optical and photonic products. The Company’s products are used in a range of end markets including data communications (Datacom) and telecommunications (Telecom) networking and industrial and commercial lasers (commercial lasers) for manufacturing inspection and life-sciences applications. The Company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The Companys OpComms segment portfolio includes products used by Telecom and Datacom nanoelectromechanical systems (NEMs) and both traditional and cloud/data center service providers. The Companys Lasers segment products serve its customers in markets and applications such as manufacturing biotechnology graphics and imaging remote sensing and precision machining such as drilling in printed circuit boards wafer singulation and solar cell scribing.