Jump Financial LLC Decreases Holdings in Lumentum Holdings Inc. (NASDAQ:LITE)

Jump Financial LLC reduced its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 99.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,757 shares of the technology company's stock after selling 6,770,343 shares during the quarter. Jump Financial LLC owned about 0.06% of Lumentum worth $3,589,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. J.Safra Asset Management Corp increased its stake in Lumentum by 31.1% during the fourth quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company's stock worth $43,000 after acquiring an additional 122 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Lumentum by 54.2% during the fourth quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company's stock worth $31,000 after acquiring an additional 130 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Lumentum by 27.2% during the fourth quarter. Quadrant Capital Group LLC now owns 766 shares of the technology company's stock worth $64,000 after acquiring an additional 164 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Lumentum by 4.0% during the fourth quarter. Crossmark Global Holdings Inc. now owns 4,350 shares of the technology company's stock valued at $365,000 after buying an additional 168 shares during the last quarter. Finally, Manchester Capital Management LLC grew its stake in shares of Lumentum by 22.6% during the fourth quarter. Manchester Capital Management LLC now owns 1,029 shares of the technology company's stock valued at $86,000 after buying an additional 190 shares during the last quarter. 94.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LITE has been the subject of several research analyst reports. Northland Securities upgraded Lumentum from a "market perform" rating to an "outperform" rating in a research report on Monday, April 7th. BNP Paribas upgraded Lumentum from a "neutral" rating to an "outperform" rating and set a $92.00 target price for the company in a research report on Tuesday, March 11th. Raymond James upgraded Lumentum from an "outperform" rating to a "strong-buy" rating and decreased their target price for the stock from $96.00 to $82.00 in a research report on Monday, March 24th. Northland Capmk upgraded Lumentum from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Finally, Barclays cut 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. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Lumentum presently has a consensus rating of "Moderate Buy" and an average price target of $82.60.

Insider Buying and Selling at Lumentum

In other Lumentum news, CFO Wajid Ali sold 2,172 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total value of $170,154.48. Following the completion of the transaction, the chief financial officer now directly owns 51,976 shares of the company's stock, valued at approximately $4,071,799.84. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by corporate insiders.

Lumentum Stock Performance

Shares of Lumentum stock traded up $5.57 on Wednesday, reaching $57.21. 1,243,600 shares of the stock were exchanged, compared to its average volume of 1,879,214. The company has a quick ratio of 3.60, a current ratio of 4.76 and a debt-to-equity ratio of 2.94. Lumentum Holdings Inc. has a twelve month low of $38.29 and a twelve month high of $104.00. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of -7.44 and a beta of 1.14. The business has a 50 day moving average price of $63.14 and a two-hundred day moving average price of $75.19.

Lumentum (NASDAQ:LITE - Get Free Report) last released its earnings results 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 return on equity of 7.25% and a negative net margin of 36.98%. 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.