14,155 Shares in Lumentum Holdings Inc. (NASDAQ:LITE) Bought by Legato Capital Management LLC

Legato Capital Management LLC bought a new position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 14,155 shares of the technology company's stock, valued at approximately $1,188,000.

A number of other large investors have also added to or reduced their stakes in LITE. Signaturefd LLC lifted its stake in Lumentum by 13.8% in the 3rd quarter. Signaturefd LLC now owns 1,302 shares of the technology company's stock worth $83,000 after purchasing an additional 158 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in Lumentum by 4.0% in the 4th quarter. Crossmark Global Holdings Inc. now owns 4,350 shares of the technology company's stock worth $365,000 after purchasing an additional 168 shares during the period. Synovus Financial Corp boosted its holdings in Lumentum by 1.5% during the 3rd quarter. Synovus Financial Corp now owns 13,225 shares of the technology company's stock valued at $838,000 after acquiring an additional 200 shares during the period. Quarry LP lifted its holdings in shares of Lumentum by 85.5% in the 3rd quarter. Quarry LP now owns 436 shares of the technology company's stock worth $28,000 after buying an additional 201 shares during the period. Finally, UMB Bank n.a. lifted its holdings 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 buying an additional 253 shares during the period. Institutional investors own 94.05% of the company's stock.

Lumentum Trading Down 0.6 %

Shares of LITE traded down $0.45 during midday trading on Friday, hitting $77.68. 1,783,058 shares of the stock were exchanged, compared to its average volume of 2,364,608. Lumentum Holdings Inc. has a 52-week low of $38.28 and a 52-week high of $104.00. The stock has a fifty day simple moving average of $86.50 and a 200 day simple moving average of $72.58. The company has a current ratio of 5.36, a quick ratio of 4.04 and a debt-to-equity ratio of 2.87.

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 analysts' consensus estimates of $0.27 by ($0.41). Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.00%. On average, sell-side analysts forecast that Lumentum Holdings Inc. will post -0.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Needham & Company LLC reiterated a "buy" rating and issued a $110.00 target price on shares of Lumentum in a report on Friday, February 7th. Rosenblatt Securities reissued a "buy" rating and issued a $110.00 price target on shares of Lumentum in a research report on Friday, February 7th. Barclays raised Lumentum from an "underweight" rating to an "overweight" rating and upped their target price for the company from $80.00 to $125.00 in a research report on Friday, January 17th. Raymond James upped their target price on Lumentum from $94.00 to $96.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Finally, Susquehanna upped their target price on Lumentum from $80.00 to $115.00 and gave the company a "positive" rating in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $88.07.

Insider Buying and Selling at Lumentum

In other news, insider Vincent Retort sold 41,710 shares of Lumentum stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $89.52, for a total transaction of $3,733,879.20. Following the sale, the insider now owns 147,515 shares in the company, valued at approximately $13,205,542.80. The trade was a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Wajid Ali sold 29,887 shares of the business's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $85.06, for a total value of $2,542,188.22. Following the completion of the transaction, the chief financial officer now owns 56,492 shares in the company, valued at $4,805,209.52. This trade represents a 34.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 78,625 shares of company stock worth $6,858,010 over the last ninety days. Corporate insiders own 0.19% of the company's stock.

About Lumentum

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.