Hanseatic Management Services Inc. Takes Position in Lumentum Holdings Inc. (NASDAQ:LITE)

Hanseatic Management Services Inc. bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 13,882 shares of the technology company's stock, valued at approximately $1,165,000. Lumentum accounts for about 1.5% of Hanseatic Management Services Inc.'s investment portfolio, making the stock its 23rd biggest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of LITE. Atreides Management LP lifted its stake in shares of Lumentum by 28.5% in the 3rd quarter. Atreides Management LP now owns 1,691,017 shares of the technology company's stock valued at $107,177,000 after purchasing an additional 375,389 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Lumentum during the third quarter valued at approximately $17,981,000. Pinnacle Associates Ltd. grew its stake in Lumentum by 50.4% during the third quarter. Pinnacle Associates Ltd. now owns 407,789 shares of the technology company's stock worth $25,846,000 after buying an additional 136,659 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Lumentum by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,703,969 shares of the technology company's stock worth $86,760,000 after acquiring an additional 130,838 shares in the last quarter. Finally, Castleark Management LLC purchased a new position in shares of Lumentum in the 3rd quarter valued at $6,205,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Insider Transactions at Lumentum

In other Lumentum news, CAO Matthew Joseph Sepe sold 8,172 shares of Lumentum stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $87.60, for a total value of $715,867.20. Following the completion of the transaction, the chief accounting officer now directly owns 21,138 shares in the company, valued at $1,851,688.80. The trade was a 27.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Penny Herscher sold 1,625 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $81.09, for a total value of $131,771.25. Following the sale, the director now owns 6,852 shares in the company, valued at $555,628.68. The trade was a 19.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,797 shares of company stock worth $8,881,428. 0.19% of the stock is currently owned by corporate insiders.

Lumentum Stock Up 5.7 %

NASDAQ:LITE traded up $5.05 during mid-day trading on Friday, reaching $94.41. The stock had a trading volume of 1,873,365 shares, compared to its average volume of 1,184,265. The company has a debt-to-equity ratio of 2.87, a current ratio of 5.36 and a quick ratio of 4.04. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of -11.40 and a beta of 0.94. Lumentum Holdings Inc. has a 1-year low of $38.28 and a 1-year high of $96.25. The stock's 50 day simple moving average is $86.72 and its two-hundred day simple moving average is $68.24.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LITE. Morgan Stanley increased their price target on Lumentum from $76.00 to $83.00 and gave the company an "equal weight" rating in a report on Tuesday, December 17th. Susquehanna raised their target price on Lumentum from $80.00 to $115.00 and gave the company a "positive" rating in a report on Friday, November 8th. Raymond James lifted their price objective on shares of Lumentum from $70.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Barclays raised shares of Lumentum from an "underweight" rating to an "overweight" rating and boosted their target price for the stock from $80.00 to $125.00 in a research report on Friday. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $110.00 price target on shares of Lumentum in a research note on Thursday, January 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Lumentum presently has a consensus rating of "Moderate Buy" and an average price target of $81.92.

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.