Quentec Asset Management buys $28,810,778 stake in Lumentum Holdings Inc (LITE)

Lumentum Holdings Inc (LITE) : Quentec Asset Management scooped up 822,519 additional shares in Lumentum Holdings Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 880,525 shares of Lumentum Holdings Inc which is valued at $28,810,778.Lumentum Holdings Inc makes up approximately 6.39% of Quentec Asset Management’s portfolio.

Other Hedge Funds, Including , Two Sigma Investments Lp reduced its stake in LITE by selling 120,396 shares or 21.35% in the most recent quarter. The Hedge Fund company now holds 443,443 shares of LITE which is valued at $14,509,455. Lumentum Holdings Inc makes up approx 0.07% of Two Sigma Investments Lp’s portfolio. Nicholas Investment Partners Lp sold out all of its stake in LITE during the most recent quarter. The investment firm sold 141,272 shares of LITE which is valued $4,622,420.Timpani Capital Management reduced its stake in LITE by selling 15,154 shares or 14.7% in the most recent quarter. The Hedge Fund company now holds 87,958 shares of LITE which is valued at $2,877,986. Lumentum Holdings Inc makes up approx 1.15% of Timpani Capital Management’s portfolio.Ubs Asset Management Americas Inc boosted its stake in LITE in the latest quarter, The investment management firm added 239,857 additional shares and now holds a total of 374,697 shares of Lumentum Holdings Inc which is valued at $11,919,112. Lumentum Holdings Inc makes up approx 0.01% of Ubs Asset Management Americas Inc’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. Lumentum Holdings Inc was Downgraded by Morgan Stanley to ” Underweight” on Aug 11, 2016. 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 .

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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