Baader Bank Aktiengesellschaft Acquires Shares of 3,596 Lumentum Holdings Inc. (NASDAQ:LITE)

Baader Bank Aktiengesellschaft bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,596 shares of the technology company's stock, valued at approximately $301,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Quarry LP increased its position in shares of Lumentum by 85.5% during the third quarter. Quarry LP now owns 436 shares of the technology company's stock worth $28,000 after acquiring an additional 201 shares in the last quarter. UMB Bank n.a. increased its holdings in Lumentum by 301.2% during the 4th quarter. UMB Bank n.a. now owns 337 shares of the technology company's stock worth $28,000 after purchasing an additional 253 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Lumentum in the 3rd quarter valued at about $33,000. Point72 DIFC Ltd bought a new stake in shares of Lumentum in the second quarter valued at about $36,000. Finally, Nomura Asset Management Co. Ltd. boosted its position 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 buying an additional 270 shares during the period. 94.05% of the stock is owned by institutional investors and hedge funds.

Lumentum Trading Up 4.5 %

NASDAQ LITE traded up $3.74 during mid-day trading on Friday, reaching $87.72. 263,825 shares of the stock were exchanged, compared to its average volume of 1,991,125. The stock has a market cap of $6.03 billion, a P/E ratio of -10.60 and a beta of 0.94. The company has a debt-to-equity ratio of 2.87, a current ratio of 5.36 and a quick ratio of 4.04. Lumentum Holdings Inc. has a one year low of $38.28 and a one year high of $104.00. The stock has a 50 day simple moving average of $87.56 and a 200-day simple moving average of $70.21.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.48). Lumentum had a negative return on equity of 6.79% and a negative net margin of 40.70%. The business had revenue of $336.90 million during the quarter, compared to the consensus estimate of $326.94 million. During the same period last year, the business posted ($0.10) earnings per share. On average, analysts anticipate that Lumentum Holdings Inc. will post -0.02 EPS for the current year.

Insiders Place Their Bets

In other Lumentum news, insider Vincent Retort sold 41,710 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $89.52, for a total value of $3,733,879.20. Following the completion of the sale, the insider now owns 147,515 shares of the company's stock, valued at approximately $13,205,542.80. This trade represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Wajid Ali sold 29,887 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $85.06, for a total value of $2,542,188.22. Following the completion of the transaction, the chief financial officer now owns 56,492 shares in the company, valued at approximately $4,805,209.52. This represents a 34.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,797 shares of company stock worth $8,881,428. Corporate insiders own 0.19% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LITE shares. Rosenblatt Securities raised their price target on shares of Lumentum from $69.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Barclays raised shares of Lumentum from an "underweight" rating to an "overweight" rating and lifted their target price for the stock from $80.00 to $125.00 in a report on Friday, January 17th. Northland Securities boosted their target price on shares of Lumentum from $45.00 to $60.00 and gave the company a "market perform" rating in a research report on Friday, November 8th. Susquehanna increased their target price on shares of Lumentum from $80.00 to $115.00 and gave the stock a "positive" rating in a research report on Friday, November 8th. Finally, Morgan Stanley lowered their price objective on shares of Lumentum from $83.00 to $81.00 and set an "equal weight" rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Lumentum presently has a consensus rating of "Moderate Buy" and an average target price of $81.77.

About Lumentum

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.