Landscape Capital Management L.L.C. Purchases Shares of 17,604 Lumentum Holdings Inc. (NASDAQ:LITE)

Landscape Capital Management L.L.C. purchased a new stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 17,604 shares of the technology company's stock, valued at approximately $1,478,000.

A number of other institutional investors and hedge funds have also made changes to their positions in LITE. HighTower Advisors LLC purchased a new stake in Lumentum in the 3rd quarter worth $216,000. Quarry LP lifted its stake in Lumentum by 85.5% in the 3rd quarter. Quarry LP now owns 436 shares of the technology company's stock valued at $28,000 after buying an additional 201 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in Lumentum in the 3rd quarter worth about $204,000. Two Sigma Advisers LP increased its stake in Lumentum by 24.7% during the 3rd quarter. Two Sigma Advisers LP now owns 186,600 shares of the technology company's stock worth $11,827,000 after buying an additional 37,000 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new position in Lumentum in the 3rd quarter valued at $1,093,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Wajid Ali sold 2,172 shares of Lumentum stock in a transaction dated 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 in the company, valued at approximately $4,071,799.84. This trade represents a 4.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is owned by insiders.

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Wall Street Analyst Weigh In

LITE has been the subject of several analyst reports. BNP Paribas raised shares of Lumentum from a "neutral" rating to an "outperform" rating and set a $92.00 price target for the company in a research note on Tuesday, March 11th. Needham & Company LLC reaffirmed a "buy" rating and issued a $110.00 price target on shares of Lumentum in a research note on Friday, February 7th. Jefferies Financial Group began coverage on shares of Lumentum in a report on Friday, February 21st. They issued a "buy" rating on the stock. UBS Group increased their price objective on shares of Lumentum from $93.00 to $96.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $110.00 target price on shares of Lumentum in a research report on Friday, February 7th. Two 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $87.40.

Lumentum Stock Performance

Shares of LITE stock traded down $4.77 during midday trading on Thursday, hitting $55.05. The company had a trading volume of 1,268,915 shares, compared to its average volume of 1,829,248. The company has a debt-to-equity ratio of 2.94, a current ratio of 4.76 and a quick ratio of 3.60. The company's 50 day simple moving average is $68.91 and its 200 day simple moving average is $75.93. Lumentum Holdings Inc. has a 52-week low of $38.29 and a 52-week high of $104.00. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of -7.16 and a beta of 1.14.

Lumentum (NASDAQ:LITE - Get Free Report) last released its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative return on equity of 7.25% and a negative net margin of 36.98%. Research analysts anticipate that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Lumentum Company 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.