Falcon Point Capital adds Lumentum Holdings Inc (LITE) to its portfolio

Lumentum Holdings Inc (LITE) : Falcon Point Capital added new position in Lumentum Holdings Inc during the most recent quarter end. The investment management firm now holds 214,963 shares of Lumentum Holdings Inc which is valued at $6,648,806 , the company said in a statement filed on Jul 26, 2016 with the SEC.Lumentum Holdings Inc makes up approximately 1.12% of Falcon Point Capital’s portfolio.

Other Hedge Funds, Including , American Century Companies Inc added LITE to its portfolio by purchasing 14,632 company shares during the most recent quarter which is valued at $452,568.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.Capstone Asset Management Co reduced its stake in LITE by selling 80 shares or 0.57% in the most recent quarter. The Hedge Fund company now holds 13,870 shares of LITE which is valued at $343,144. Lumentum Holdings Inc makes up approx 0.01% of Capstone Asset Management Co’s portfolio.Fisher Asset Management reduced its stake in LITE by selling 26,709 shares or 24.2% in the most recent quarter. The Hedge Fund company now holds 83,637 shares of LITE which is valued at $2,069,179.

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 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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