Counterpoint Mutual Funds LLC bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 8,592 shares of the technology company's stock, valued at approximately $721,000.
Other hedge funds also recently bought and sold shares of the company. Quarry LP increased its stake in shares of Lumentum by 85.5% during 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 last quarter. UMB Bank n.a. boosted its stake in shares of Lumentum by 301.2% in 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 in the last quarter. Jones Financial Companies Lllp increased its holdings 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 in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Lumentum by 67.5% during the third 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 last quarter. Finally, J.Safra Asset Management Corp increased its holdings in 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 purchasing an additional 122 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, CFO Wajid Ali sold 2,172 shares of Lumentum stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total transaction of $170,154.48. Following the transaction, the chief financial officer now directly owns 51,976 shares of the company's stock, valued at $4,071,799.84. The trade was a 4.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by corporate insiders.
Lumentum Trading Up 5.5 %
NASDAQ LITE opened at $63.61 on Monday. Lumentum Holdings Inc. has a 12 month low of $38.29 and a 12 month high of $104.00. The company has a current ratio of 4.76, a quick ratio of 3.60 and a debt-to-equity ratio of 2.94. The stock's fifty day moving average price is $79.26 and its 200-day moving average price is $75.37. The stock has a market cap of $4.40 billion, a P/E ratio of -8.27 and a beta of 1.03.
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 (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. As a group, equities analysts forecast that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on LITE shares. UBS Group increased their price target on Lumentum from $93.00 to $96.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Barclays upgraded Lumentum from an "underweight" rating to an "overweight" rating and increased their target price for the stock from $80.00 to $125.00 in a report on Friday, January 17th. Raymond James upped their price objective on shares of Lumentum from $94.00 to $96.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Stifel Nicolaus boosted their target price on shares of Lumentum from $95.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Finally, BNP Paribas raised shares of Lumentum from a "neutral" rating to an "outperform" rating and set a $92.00 price target on the stock in a research report on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $88.33.
View Our Latest Stock Report on LITE
Lumentum Profile
(
Free Report)
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.
Further Reading
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