Lumentum Holdings Inc. (NASDAQ:LITE) Shares Acquired by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP raised its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 131.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 88,662 shares of the technology company's stock after buying an additional 50,317 shares during the quarter. ExodusPoint Capital Management LP owned about 0.13% of Lumentum worth $7,443,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Alliancebernstein L.P. increased its holdings in shares of Lumentum by 1.4% during the fourth quarter. Alliancebernstein L.P. now owns 1,711,956 shares of the technology company's stock valued at $143,719,000 after acquiring an additional 23,136 shares in the last quarter. Geode Capital Management LLC grew its position in Lumentum by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 1,195,605 shares of the technology company's stock worth $100,402,000 after purchasing an additional 9,442 shares during the last quarter. Norges Bank acquired a new position in Lumentum during the 4th quarter valued at approximately $68,962,000. Fisher Asset Management LLC raised its holdings in shares of Lumentum by 18.8% in the fourth quarter. Fisher Asset Management LLC now owns 687,311 shares of the technology company's stock worth $57,700,000 after buying an additional 108,740 shares during the last quarter. Finally, Emerald Advisers LLC lifted its stake in shares of Lumentum by 12.3% during the fourth quarter. Emerald Advisers LLC now owns 425,079 shares of the technology company's stock worth $35,685,000 after buying an additional 46,544 shares during the period. 94.05% of the stock is currently owned by institutional investors.

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Insider Transactions at Lumentum

In related news, CFO Wajid Ali sold 2,172 shares of Lumentum 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 transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.19% of the company's stock.

Lumentum Price Performance

Shares of LITE traded down $4.76 during mid-day trading on Thursday, hitting $55.05. 1,204,542 shares of the company were exchanged, compared to its average volume of 1,829,217. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76. Lumentum Holdings Inc. has a 1-year low of $38.29 and a 1-year high of $104.00. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of -7.12 and a beta of 1.14. The company has a 50 day moving average of $68.91 and a 200-day moving average of $75.93.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LITE. Barclays upgraded Lumentum from an "underweight" rating to an "overweight" rating and raised their target price for the stock from $80.00 to $125.00 in a research note on Friday, January 17th. Northland Securities upgraded Lumentum from a "market perform" rating to an "outperform" rating in a research report on Monday. Needham & Company LLC reissued a "buy" rating and set a $110.00 price target on shares of Lumentum in a research report on Friday, February 7th. Northland Capmk raised shares of Lumentum from a "hold" rating to a "strong-buy" rating in a report on Monday. Finally, Morgan Stanley reduced their target price on shares of Lumentum from $83.00 to $81.00 and set an "equal weight" rating for the company in a report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $87.40.

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.