Counterpoint Mutual Funds LLC Invests $721,000 in Lumentum Holdings Inc. (NASDAQ:LITE)

Counterpoint Mutual Funds LLC acquired a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 8,592 shares of the technology company's stock, valued at approximately $721,000.

Other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. increased its position in shares of Lumentum by 301.2% during the 4th quarter. UMB Bank n.a. now owns 337 shares of the technology company's stock valued at $28,000 after purchasing an additional 253 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Lumentum by 54.2% in the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company's stock worth $31,000 after purchasing an additional 130 shares during the period. Quarry LP increased its stake in Lumentum by 85.5% in the 3rd quarter. Quarry LP now owns 436 shares of the technology company's stock worth $28,000 after purchasing an additional 201 shares during the period. J.Safra Asset Management Corp increased its stake in Lumentum by 31.1% in the 4th quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company's stock worth $43,000 after purchasing an additional 122 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its stake in Lumentum by 67.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company's stock worth $42,000 after purchasing an additional 270 shares during the period. 94.05% of the stock is currently owned by institutional investors.

Lumentum Stock Performance

NASDAQ:LITE traded down $2.43 during mid-day trading on Tuesday, hitting $65.88. 4,650,464 shares of the company traded hands, compared to its average volume of 1,678,531. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of -8.57 and a beta of 1.03. 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 stock's fifty day moving average price is $78.40 and its 200-day moving average price is $75.51. Lumentum Holdings Inc. has a one year low of $38.29 and a one year high of $104.00.

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Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share 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%. Research analysts anticipate that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Activity at Lumentum

In other Lumentum news, CFO Wajid Ali sold 2,172 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total transaction of $170,154.48. Following the sale, the chief financial officer now directly owns 51,976 shares in the company, valued at $4,071,799.84. This represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LITE. Stifel Nicolaus lifted 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. Barclays upgraded Lumentum from an "underweight" rating to an "overweight" rating and lifted their price objective for the stock from $80.00 to $125.00 in a research report on Friday, January 17th. Raymond James lifted their price objective on Lumentum from $94.00 to $96.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. B. Riley lifted their price objective on Lumentum from $62.00 to $75.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Finally, BNP Paribas upgraded Lumentum from a "neutral" rating to an "outperform" rating and set a $92.00 price objective on the stock in a research report on Tuesday, March 11th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.33.

Lumentum 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.