Lightrock Netherlands B.V. Makes New Investment in Lumentum Holdings Inc. (NASDAQ:LITE)

Lightrock Netherlands B.V. acquired a new position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 150,156 shares of the technology company's stock, valued at approximately $12,668,000. Lumentum makes up approximately 4.4% of Lightrock Netherlands B.V.'s investment portfolio, making the stock its 4th biggest position. Lightrock Netherlands B.V. owned 0.22% of Lumentum at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Truist Financial Corp lifted its holdings in shares of Lumentum by 5.8% during the 2nd quarter. Truist Financial Corp now owns 11,054 shares of the technology company's stock worth $563,000 after acquiring an additional 607 shares during the period. GAMMA Investing LLC raised its position in Lumentum by 141.6% during the third quarter. GAMMA Investing LLC now owns 894 shares of the technology company's stock valued at $57,000 after purchasing an additional 524 shares in the last quarter. Creative Planning lifted its stake in Lumentum by 36.0% during the third quarter. Creative Planning now owns 6,914 shares of the technology company's stock worth $438,000 after purchasing an additional 1,831 shares during the last quarter. nVerses Capital LLC boosted its holdings in shares of Lumentum by 54.8% in the 3rd quarter. nVerses Capital LLC now owns 4,800 shares of the technology company's stock valued at $304,000 after purchasing an additional 1,700 shares in the last quarter. Finally, First Citizens Bank & Trust Co. bought a new position in shares of Lumentum in the 3rd quarter valued at $259,000. Institutional investors own 94.05% of the company's stock.

Lumentum Trading Down 2.8 %

Shares of NASDAQ LITE traded down $2.33 during trading on Tuesday, reaching $79.60. The company had a trading volume of 2,519,785 shares, compared to its average volume of 2,494,975. The stock has a market cap of $5.47 billion, a P/E ratio of -10.35 and a beta of 0.94. The company's fifty day moving average price is $87.59 and its 200-day moving average price is $71.95. The company has a quick ratio of 4.04, a current ratio of 5.36 and a debt-to-equity ratio of 2.87. Lumentum Holdings Inc. has a 12 month low of $38.28 and a 12 month high of $104.00.

Lumentum (NASDAQ:LITE - Get Free Report) last released its earnings results 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 net margin of 36.98% and a negative return on equity of 7.00%. As a group, research analysts expect that Lumentum Holdings Inc. will post -0.04 earnings per share for the current year.

Analyst Ratings Changes

LITE has been the subject of several recent analyst reports. Northland Securities upped their price objective on Lumentum from $60.00 to $70.00 and gave the stock a "market perform" rating in a research report on Friday. Raymond James raised their price target on shares of Lumentum from $94.00 to $96.00 and gave the company an "outperform" rating in a research note on Friday. Stifel Nicolaus upped their price objective on shares of Lumentum from $95.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday. Barclays upgraded shares of Lumentum from an "underweight" rating to an "overweight" rating and raised their target price for the company from $80.00 to $125.00 in a research report on Friday, January 17th. Finally, Susquehanna upped their price target on shares of Lumentum from $80.00 to $115.00 and gave the stock a "positive" rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $88.07.

Insider Activity at Lumentum

In related news, CAO Matthew Joseph Sepe sold 8,172 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $87.60, for a total transaction of $715,867.20. Following the transaction, the chief accounting officer now directly owns 21,138 shares of the company's stock, valued at $1,851,688.80. This represents a 27.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vincent Retort sold 41,710 shares of the firm's stock in a transaction on 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 completion of the sale, the insider now owns 147,515 shares of the company's stock, valued at $13,205,542.80. The trade was a 22.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,797 shares of company stock worth $7,573,878 over the last quarter. Company 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.