Ao Asset Management Lowers stake in Lumentum Holdings Inc (LITE)

Lumentum Holdings Inc (LITE) : Ao Asset Management reduced its stake in Lumentum Holdings Inc by 31.09% during the most recent quarter end. The investment management company now holds a total of 576,100 shares of Lumentum Holdings Inc which is valued at $17,726,597 after selling 259,900 shares in Lumentum Holdings Inc , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Lumentum Holdings Inc makes up approximately 4.37% of Ao Asset Management’s portfolio.

Other Hedge Funds, Including , California Public Employees Retirement System reduced its stake in LITE by selling 3,900 shares or 3.02% in the most recent quarter. The Hedge Fund company now holds 125,100 shares of LITE which is valued at $3,849,327. Lumentum Holdings Inc makes up approx 0.01% of California Public Employees Retirement System’s portfolio.Hood River Capital Management boosted its stake in LITE in the latest quarter, The investment management firm added 117,474 additional shares and now holds a total of 591,173 shares of Lumentum Holdings Inc which is valued at $17,882,983. Lumentum Holdings Inc makes up approx 2.16% of Hood River Capital Management’s portfolio.Rs Investment Management Co boosted its stake in LITE in the latest quarter, The investment management firm added 1,311,042 additional shares and now holds a total of 1,395,702 shares of Lumentum Holdings Inc which is valued at $43,169,063. Lumentum Holdings Inc makes up approx 0.42% of Rs Investment Management Co’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.Lasalle Street Capital Management boosted its stake in LITE in the latest quarter, The investment management firm added 292 additional shares and now holds a total of 9,441 shares of Lumentum Holdings Inc which is valued at $256,701. Lumentum Holdings Inc makes up approx 0.24% of Lasalle Street Capital Management’s portfolio.

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. 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 .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 .

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 Company’s OpComms segment portfolio includes products used by Telecom and Datacom nanoelectromechanical systems (NEMs) and both traditional and cloud/data center service providers. The Company’s 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.

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