KLP Kapitalforvaltning AS Makes New Investment in Lumentum Holdings Inc. (NASDAQ:LITE)

KLP Kapitalforvaltning AS acquired a new stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 13,971 shares of the technology company's stock, valued at approximately $1,173,000.

Other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. lifted its holdings in shares of Lumentum by 301.2% during the fourth quarter. UMB Bank n.a. now owns 337 shares of the technology company's stock valued at $28,000 after purchasing an additional 253 shares in the last quarter. Jones Financial Companies Lllp raised its position in Lumentum by 54.2% in the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company's stock worth $31,000 after buying an additional 130 shares during the last quarter. Quarry LP lifted its stake in Lumentum by 85.5% during the 3rd quarter. Quarry LP now owns 436 shares of the technology company's stock valued at $28,000 after acquiring an additional 201 shares during the period. J.Safra Asset Management Corp boosted its holdings in shares of Lumentum by 31.1% during the 4th quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company's stock valued at $43,000 after acquiring an additional 122 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of Lumentum by 67.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company's stock worth $42,000 after acquiring an additional 270 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

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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 on Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total value of $170,154.48. Following the sale, the chief financial officer now owns 51,976 shares in the company, valued at $4,071,799.84. The trade was a 4.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.19% of the company's stock.

Lumentum Price Performance

Shares of LITE traded up $1.25 during trading hours on Tuesday, reaching $63.59. 3,600,635 shares of the stock traded hands, compared to its average volume of 1,727,650. The company has a market cap of $4.40 billion, a P/E ratio of -8.27 and a beta of 1.03. The company has a current ratio of 4.76, a quick ratio of 3.60 and a debt-to-equity ratio of 2.94. The company's 50-day moving average price is $74.64 and its two-hundred day moving average price is $76.35. Lumentum Holdings Inc. has a 52-week low of $38.29 and a 52-week high of $104.00.

Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share 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%. On average, analysts anticipate that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Rosenblatt Securities restated a "buy" rating and set a $110.00 price objective on shares of Lumentum in a research report on Friday, February 7th. Morgan Stanley lowered their price target on Lumentum from $83.00 to $81.00 and set an "equal weight" rating on the stock in a report on Friday, January 31st. Needham & Company LLC reaffirmed a "buy" rating and issued a $110.00 price objective on shares of Lumentum in a report on Friday, February 7th. Northland Securities increased their target price on Lumentum from $60.00 to $70.00 and gave the company a "market perform" rating in a report on Friday, February 7th. Finally, Barclays upgraded Lumentum from an "underweight" rating to an "overweight" rating and boosted their price target for the company from $80.00 to $125.00 in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.