Institutional investors own 95.74% of the company's stock.
A number of other hedge funds also recently made changes to their positions in the stock. Kennedy Capital Management Inc. grew its stake in Lumentum Holdings by 24.2% in the 2nd quarter. The stock's price to sales ratio for trailing twelve months is 3.40 and price to book ratio for most recent quarter is 5.44, whereas price to cash per share for the most recent quarter is 6.13. Ao Asset Management, LLC now holds 227,200 shares worth $12,962,000. Micron Technology, Inc. has 1.11 billion shares outstanding, and in the last trade has seen ATR around 1.04. Alliancebernstein raised its holdings in Lumentum Holdings by 14.5% through out the 2nd period. For the last month, company shares are -2.83%. Lastly, Gilder Gagnon Howe raised its holdings in Lumentum Holdings by 23.4% through out the 2nd period. LLC now owns 2,099,760 shares of the technology company's stock worth $119,791,000 after buying an additional 397,622 shares in the last quarter. Developed by hedge fund manager Joel Greenblatt, the intention of the formula is to spot high quality companies that are trading at an attractive price.
In other news, Director Harold L. Covert sold 12,000 shares of the firm's stock in a transaction that occurred on Friday, February 10th.
Aaron Tachibana, CFO sold $290,523 worth of shares at an average price of $52.88 on Thursday the 17th. Following the completion of the transaction, the chief operating officer now directly owns 92,694 shares of the company's stock, valued at approximately $4,782,083.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Vincent Retort sold 14,875 shares of the business's stock in a transaction that occurred on Wednesday, August 23rd. If we take a long term observation, shares have been trading at a distance of -7.60% from the 200-day moving average. The PEG ratio is used to determine a stock's value while taking the company's earnings growth into account, and is considered to provide a more complete picture than the P/E ratio. The disclosure for this sale can be found here.
Lumentum Holdings Inc. (NasdaqGS:LITE) has a current MF Rank of 7597. (NASDAQ:LITE) has an average volume of 1.96 Million. The 50 day moving average was down $-3.65 and the 200 day average went down $-3.65 or -6.27%.
The company is so far trading up by 7.38% percent from yesterday's close and is one of the top gainers in today's market.
Lumentum Holdings (NASDAQ:LITE) previously released its fiscal periodic earnings information on early Wed, Aug 9th.
Lumentum Holdings Inc. on 6/29/2017 reported its EPS as $0.49 with the analysts projecting the EPS of the stock as $0.44. Lumentum Holdings had a negative net margin of 10.25% and a positive return on equity of 18.12%. The expected future growth in earnings per share ("EPS") is an incredibly important factor.in identifying an under-valued stock. While in the same Quarter Previous year, the Actual EPS was $0.49. The company's quarterly revenue was down 7.9% compared to the same quarter previous year.
On a similar note, analysts expect EPS of $1.73 in August 2017 quarter and $1.67 in November 2017 quarter, representing -3560% and 496.43% growth, respectively. UBS AG raised their target price on Lumentum Holdings from $66.00 to $70.00 in a research report on Wednesday, August 9th. The consensus analyst target price is $44.69. BidaskClub downgraded Lumentum Holdings from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 1st.
The consensus recommendation, according to Zacks Investment research, is 1.5. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Lumentum Holdings Inc.is headquartered in Milpitas, California. "(LITE)" was originally reported by Equities Focus and is owned by of Equities Focus.
Lumentum Holdings Inc.is a provider of optical and photonic products for a range of end market applications, including data communications and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Company operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers).