Capital Research Global Investors Purchases New Shares in Lumentum Holdings Inc. (NASDAQ:LITE)

Capital Research Global Investors acquired a new stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 505,237 shares of the technology company's stock, valued at approximately $42,415,000. Capital Research Global Investors owned approximately 0.74% of Lumentum at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. UMB Bank n.a. grew its holdings in shares of Lumentum by 301.2% in the fourth quarter. UMB Bank n.a. now owns 337 shares of the technology company's stock worth $28,000 after acquiring an additional 253 shares during the period. Jones Financial Companies Lllp raised its holdings in Lumentum by 54.2% during the fourth quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company's stock valued at $31,000 after acquiring an additional 130 shares during the period. J.Safra Asset Management Corp lifted its position in shares of Lumentum by 31.1% in the fourth quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company's stock valued at $43,000 after acquiring an additional 122 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in Lumentum by 27.2% in the 4th quarter. Quadrant Capital Group LLC now owns 766 shares of the technology company's stock worth $64,000 after purchasing an additional 164 shares during the period. Finally, Daiwa Securities Group Inc. bought a new position in shares of Lumentum during the fourth quarter worth $67,000. 94.05% of the stock is owned by institutional investors.

Insider Activity at Lumentum

In related news, CFO Wajid Ali sold 2,172 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total transaction of $170,154.48. Following the sale, the chief financial officer now owns 51,976 shares in the company, valued at approximately $4,071,799.84. This trade represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by insiders.

Lumentum Stock Up 2.1 %

Shares of Lumentum stock traded up $1.23 during trading on Friday, reaching $60.00. The company's stock had a trading volume of 1,466,852 shares, compared to its average volume of 1,891,801. Lumentum Holdings Inc. has a 1-year low of $38.29 and a 1-year high of $104.00. The company has a market cap of $4.15 billion, a price-to-earnings ratio of -7.80 and a beta of 1.14. The company has a quick ratio of 3.60, a current ratio of 4.76 and a debt-to-equity ratio of 2.94. The company has a 50-day simple moving average of $62.32 and a two-hundred day simple moving average of $74.99.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of $0.27 by ($0.41). Lumentum had a negative return on equity of 7.25% and a negative net margin of 36.98%. As a group, equities analysts forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. BNP Paribas raised Lumentum from a "neutral" rating to an "outperform" rating and set a $92.00 price objective on the stock in a report on Tuesday, March 11th. Stifel Nicolaus raised their price target on Lumentum from $95.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Morgan Stanley reduced their price target on shares of Lumentum from $83.00 to $81.00 and set an "equal weight" rating on the stock in a research note on Friday, January 31st. B. Riley lifted their price target on shares of Lumentum from $62.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Finally, UBS Group upped their target price on Lumentum from $93.00 to $96.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $82.60.

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.