Advisors Preferred LLC purchased a new stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,105 shares of the technology company's stock, valued at approximately $865,000.
Other institutional investors have also recently bought and sold shares of the company. JB Capital LLC raised its holdings in shares of Lumentum by 2.4% during the 4th quarter. JB Capital LLC now owns 33,418 shares of the technology company's stock valued at $2,805,000 after purchasing an additional 788 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in Lumentum in the 4th quarter worth $301,000. Robeco Institutional Asset Management B.V. bought a new position in Lumentum during the fourth quarter valued at about $646,000. R Squared Ltd bought a new stake in shares of Lumentum during the fourth quarter valued at approximately $86,000. Finally, First Citizens Bank & Trust Co. increased its holdings in Lumentum by 13.6% in the 4th quarter. First Citizens Bank & Trust Co. now owns 4,647 shares of the technology company's stock valued at $390,000 after buying an additional 558 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Lumentum
In other Lumentum news, Director Harold L. Covert sold 3,345 shares of the business's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $81.78, for a total transaction of $273,554.10. Following the sale, the director now directly owns 8,729 shares of the company's stock, valued at $713,857.62. The trade was a 27.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Julia Suzanne Johnson sold 2,058 shares of Lumentum stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $85.82, for a total transaction of $176,617.56. Following the transaction, the director now owns 23,287 shares in the company, valued at approximately $1,998,490.34. This trade represents a 8.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,797 shares of company stock valued at $7,573,878. 0.19% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on LITE. Rosenblatt Securities reissued a "buy" rating and issued a $110.00 target price on shares of Lumentum in a report on Friday. Raymond James boosted their price objective on Lumentum from $94.00 to $96.00 and gave the stock an "outperform" rating in a report on Friday. Northland Securities increased their price target on shares of Lumentum from $60.00 to $70.00 and gave the company a "market perform" rating in a research report on Friday. UBS Group raised their target price on shares of Lumentum from $93.00 to $96.00 and gave the stock a "neutral" rating in a report on Friday. Finally, Needham & Company LLC reissued a "buy" rating and issued a $110.00 price objective on shares of Lumentum in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $88.07.
Read Our Latest Stock Analysis on Lumentum
Lumentum Stock Performance
NASDAQ:LITE traded down $2.33 during mid-day trading on Tuesday, hitting $79.60. 2,519,530 shares of the stock were exchanged, compared to its average volume of 2,494,102. The company has a debt-to-equity ratio of 2.87, a quick ratio of 4.04 and a current ratio of 5.36. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of -10.35 and a beta of 0.94. Lumentum Holdings Inc. has a fifty-two week low of $38.28 and a fifty-two week high of $104.00. The firm's 50-day simple moving average is $87.59 and its 200 day simple moving average is $71.95.
Lumentum (NASDAQ:LITE - Get Free Report) last issued its quarterly earnings results 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 7.00% and a negative net margin of 36.98%. As a group, equities analysts anticipate that Lumentum Holdings Inc. will post -0.04 EPS for the current fiscal year.
About Lumentum
(
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.
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