Hantz Financial Services Inc. Sells 10,320 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Hantz Financial Services Inc. cut its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 50.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,280 shares of the technology company’s stock after selling 10,320 shares during the period. Hantz Financial Services Inc.’s holdings in Lumentum were worth $652,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Capital Performance Advisors LLP bought a new stake in shares of Lumentum during the third quarter worth $33,000. Point72 DIFC Ltd acquired a new stake in shares of Lumentum during the second quarter worth about $36,000. GAMMA Investing LLC lifted its stake in Lumentum by 141.6% in the third quarter. GAMMA Investing LLC now owns 894 shares of the technology company’s stock valued at $57,000 after buying an additional 524 shares in the last quarter. Signaturefd LLC lifted its position in Lumentum by 93.9% in the 2nd quarter. Signaturefd LLC now owns 1,144 shares of the technology company’s stock valued at $58,000 after acquiring an additional 554 shares in the last quarter. Finally, nVerses Capital LLC boosted its position in shares of Lumentum by 416.7% during the second quarter. nVerses Capital LLC now owns 3,100 shares of the technology company’s stock worth $158,000 after buying an additional 2,500 shares during the period. 94.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on LITE shares. Susquehanna increased their target price on shares of Lumentum from $80.00 to $115.00 and gave the stock a “positive” rating in a report on Friday, November 8th. Morgan Stanley boosted their target price on Lumentum from $61.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Barclays increased their price target on shares of Lumentum from $40.00 to $80.00 and gave the company an “underweight” rating in a report on Monday, November 11th. Northland Securities increased their price objective on Lumentum from $45.00 to $60.00 and gave the stock a “market perform” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Lumentum from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $74.85.

Insiders Place Their Bets

In other Lumentum news, 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 transaction of $3,733,879.20. Following the transaction, the insider now owns 147,515 shares of the company’s stock, valued at $13,205,542.80. This trade represents a 22.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Julia Suzanne Johnson sold 2,058 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $85.82, for a total value of $176,617.56. Following the completion of the transaction, the director now directly owns 23,287 shares of the company’s stock, valued at approximately $1,998,490.34. This represents a 8.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,910 shares of company stock valued at $6,339,239. 0.19% of the stock is currently owned by insiders.

Lumentum Price Performance

LITE stock opened at $86.97 on Monday. The stock has a market cap of $5.97 billion, a price-to-earnings ratio of -10.50 and a beta of 0.88. 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 50 day simple moving average of $72.09 and a 200 day simple moving average of $58.36. Lumentum Holdings Inc. has a 1 year low of $38.28 and a 1 year high of $91.21.

Lumentum Company 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.