Lumentum Holdings Inc (LITE) : Thompson Investment Management reduced its stake in Lumentum Holdings Inc by 0.54% during the most recent quarter end. The investment management company now holds a total of 130,873 shares of Lumentum Holdings Inc which is valued at $4,026,962 after selling 710 shares in Lumentum Holdings Inc , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Lumentum Holdings Inc makes up approximately 0.79% of Thompson Investment Management’s portfolio.
Other Hedge Funds, Including , Gilder Gagnon Howe Co boosted its stake in LITE in the latest quarter, The investment management firm added 439 additional shares and now holds a total of 1,865 shares of Lumentum Holdings Inc which is valued at $57,386. Spectrum Management Group sold out all of its stake in LITE during the most recent quarter. The investment firm sold 1 shares of LITE which is valued $30.Meeder Asset Management Inc reduced its stake in LITE by selling 31,041 shares or 86.66% in the most recent quarter. The Hedge Fund company now holds 4,778 shares of LITE which is valued at $131,347. Lumentum Holdings Inc makes up approx 0.01% of Meeder Asset Management Inc’s portfolio. Kanaly Trust Co sold out all of its stake in LITE during the most recent quarter. The investment firm sold 1 shares of LITE which is valued $27.
On the company’s financial health, Lumentum Holdings Inc reported $0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Feb 4, 2016. Analyst had a consensus of $0.28. The company had revenue of $218.30 million for the quarter, compared to analysts expectations of $218.14 million. The company’s revenue was up 3.7% compared to the same quarter last year.
Many Wall Street Analysts have commented on Lumentum Holdings Inc. Company shares were Upgraded by Needham on Jul 25, 2016 to ” Strong Buy”, Firm has raised the Price Target to $ 40 from a previous price target of $35 .Company shares were Reiterated by MKM Partners on Jul 20, 2016 to “Buy”, Firm has raised the Price Target to $ 32 from a previous price target of $28 .Lumentum Holdings Inc was Upgraded by Raymond James to ” Outperform” on May 31, 2016.
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.