Fuller & Thaler Asset Management Inc. boosted its position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 8.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 838,289 shares of the technology company's stock after purchasing an additional 62,937 shares during the quarter. Fuller & Thaler Asset Management Inc. owned approximately 1.22% of Lumentum worth $70,374,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of LITE. Capital World Investors raised its stake in Lumentum by 108.3% in the fourth quarter. Capital World Investors now owns 3,600,132 shares of the technology company's stock valued at $302,231,000 after buying an additional 1,871,572 shares during the last quarter. 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 raised its position in shares of Lumentum by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,195,605 shares of the technology company's stock valued at $100,402,000 after purchasing an additional 9,442 shares during the last quarter. Norges Bank acquired a new stake in Lumentum in the 4th quarter worth approximately $68,962,000. Finally, Fisher Asset Management LLC grew its position in Lumentum by 18.8% during the 4th quarter. Fisher Asset Management LLC now owns 687,311 shares of the technology company's stock worth $57,700,000 after purchasing an additional 108,740 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Lumentum news, CFO Wajid Ali sold 2,172 shares of the 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 completion of the transaction, the chief financial officer now owns 51,976 shares of the company's stock, valued at $4,071,799.84. This represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.
Lumentum Price Performance
Shares of NASDAQ:LITE traded up $0.08 during trading on Monday, reaching $60.08. 1,771,306 shares of the company's stock traded hands, compared to its average volume of 1,900,109. The firm has a market cap of $4.16 billion, a PE ratio of -7.81 and a beta of 1.14. Lumentum Holdings Inc. has a fifty-two week low of $38.29 and a fifty-two week high of $104.00. 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 company has a 50-day simple moving average of $61.91 and a 200-day simple moving average of $75.04.
Lumentum (NASDAQ:LITE - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates 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, analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several research firms have recently commented on LITE. Raymond James upgraded shares of Lumentum from an "outperform" rating to a "strong-buy" rating and lowered their price objective for the stock from $96.00 to $82.00 in a research note on Monday, March 24th. Barclays dropped their price target on Lumentum from $125.00 to $70.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Jefferies Financial Group assumed coverage on Lumentum in a research note on Friday, February 21st. They issued a "buy" rating for the company. UBS Group upped their target price on Lumentum from $93.00 to $96.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Finally, Northland Securities raised shares of Lumentum from a "market perform" rating to an "outperform" rating in a research report on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $82.60.
View Our Latest Stock Report on LITE
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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