Lumentum Holdings Inc. (NASDAQ:LITE) Holdings Boosted by Symmetry Investments LP

Symmetry Investments LP raised its holdings in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 744.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,235 shares of the technology company's stock after acquiring an additional 84,835 shares during the quarter. Symmetry Investments LP owned about 0.14% of Lumentum worth $8,079,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. HighTower Advisors LLC bought a new position in Lumentum during the third quarter worth $216,000. Tidal Investments LLC grew its position in Lumentum by 35.6% in the 3rd quarter. Tidal Investments LLC now owns 18,669 shares of the technology company's stock worth $1,183,000 after purchasing an additional 4,899 shares during the last quarter. Synovus Financial Corp increased its holdings in shares of Lumentum by 1.5% during the 3rd quarter. Synovus Financial Corp now owns 13,225 shares of the technology company's stock worth $838,000 after purchasing an additional 200 shares during the period. GAMMA Investing LLC raised its position in shares of Lumentum by 33.3% during the fourth quarter. GAMMA Investing LLC now owns 1,192 shares of the technology company's stock valued at $100,000 after buying an additional 298 shares during the last quarter. Finally, Friedenthal Financial bought a new stake in shares of Lumentum in the fourth quarter valued at about $773,000. Institutional investors own 94.05% of the company's stock.

Lumentum Trading Up 3.1 %

Shares of NASDAQ:LITE opened at $51.64 on Wednesday. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76. The company has a market capitalization of $3.57 billion, a P/E ratio of -6.72 and a beta of 1.14. Lumentum Holdings Inc. has a 52-week low of $38.29 and a 52-week high of $104.00. The company has a 50-day simple moving average of $63.14 and a 200 day simple moving average of $75.19.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Northland Capmk raised Lumentum from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Morgan Stanley lowered their price target on shares of Lumentum from $83.00 to $81.00 and set an "equal weight" rating on the stock in a report on Friday, January 31st. JPMorgan Chase & Co. reduced their price objective on shares of Lumentum from $105.00 to $73.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Needham & Company LLC restated a "buy" rating and set a $110.00 target price on shares of Lumentum in a research report on Friday, February 7th. Finally, B. Riley upped their price objective on shares of Lumentum from $62.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $82.60.

Insider Buying and Selling at Lumentum

In other Lumentum news, CFO Wajid Ali sold 2,172 shares of the company's stock in a transaction on 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 directly owns 51,976 shares in the company, valued at $4,071,799.84. This represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.19% of the company's stock.

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.

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