Hel Ved Capital Management Ltd Invests $19.03 Million in Lumentum Holdings Inc. (NASDAQ:LITE)

Hel Ved Capital Management Ltd bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 226,640 shares of the technology company's stock, valued at approximately $19,026,000. Lumentum makes up 5.6% of Hel Ved Capital Management Ltd's holdings, making the stock its 2nd biggest position. Hel Ved Capital Management Ltd owned about 0.33% of Lumentum as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. UMB Bank n.a. lifted its position in shares of Lumentum by 301.2% in 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 during the period. Jones Financial Companies Lllp increased its position in Lumentum by 54.2% during the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company's stock valued at $31,000 after buying an additional 130 shares in the last quarter. Quarry LP raised its stake in Lumentum by 85.5% during the third quarter. Quarry LP now owns 436 shares of the technology company's stock valued at $28,000 after buying an additional 201 shares during the last quarter. J.Safra Asset Management Corp raised its position in shares of Lumentum by 31.1% in the 4th quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company's stock worth $43,000 after purchasing an additional 122 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in Lumentum by 67.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company's stock worth $42,000 after purchasing an additional 270 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In other Lumentum news, CFO Wajid Ali sold 2,172 shares of the firm's stock in a transaction 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 sale, the chief financial officer now owns 51,976 shares of the company's stock, valued at $4,071,799.84. This trade represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LITE. Raymond James raised Lumentum from an "outperform" rating to a "strong-buy" rating and reduced their target price for the stock from $96.00 to $82.00 in a report on Monday, March 24th. UBS Group upped their target price on shares of Lumentum from $93.00 to $96.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Rosenblatt Securities restated a "buy" rating and issued a $110.00 target price on shares of Lumentum in a report on Friday, February 7th. Morgan Stanley lowered their target price on Lumentum from $83.00 to $81.00 and set an "equal weight" rating on the stock in a report on Friday, January 31st. Finally, B. Riley upped their price target on shares of Lumentum from $62.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $87.40.

Lumentum Trading Down 8.3 %

Shares of NASDAQ LITE traded down $4.95 during trading hours on Thursday, hitting $54.86. 1,395,159 shares of the company traded hands, compared to its average volume of 1,829,723. The company's 50 day moving average price is $68.91 and its 200 day moving average price is $75.93. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of -7.12 and a beta of 1.14. The company has a current ratio of 4.76, a quick ratio of 3.60 and a debt-to-equity ratio of 2.94. Lumentum Holdings Inc. has a 12 month low of $38.29 and a 12 month high of $104.00.

Lumentum (NASDAQ:LITE - Get Free Report) last announced 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%. On average, equities research analysts anticipate that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

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.