Barrow Hanley Mewhinney & Strauss LLC Sells 48,056 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Barrow Hanley Mewhinney & Strauss LLC reduced its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,101,936 shares of the technology company's stock after selling 48,056 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned 1.60% of Lumentum worth $92,508,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of LITE. J.Safra Asset Management Corp grew its stake in Lumentum by 31.1% during the fourth quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company's stock worth $43,000 after buying an additional 122 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Lumentum by 54.2% during the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company's stock worth $31,000 after acquiring an additional 130 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in Lumentum by 4.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 4,350 shares of the technology company's stock valued at $365,000 after acquiring an additional 168 shares during the last quarter. Manchester Capital Management LLC raised its position in Lumentum by 22.6% during the fourth quarter. Manchester Capital Management LLC now owns 1,029 shares of the technology company's stock valued at $86,000 after purchasing an additional 190 shares in the last quarter. Finally, Synovus Financial Corp lifted its stake in Lumentum by 1.5% during the third 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 last quarter. Institutional investors own 94.05% of the company's stock.

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Insider Activity

In related news, CFO Wajid Ali sold 2,172 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total transaction of $170,154.48. Following the transaction, the chief financial officer now directly owns 51,976 shares of the company's stock, valued at $4,071,799.84. This represents a 4.01 % 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. 0.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LITE. Needham & Company LLC reissued a "buy" rating and set a $110.00 price target on shares of Lumentum in a report on Friday, February 7th. Barclays raised Lumentum from an "underweight" rating to an "overweight" rating and boosted their target price for the stock from $80.00 to $125.00 in a research note on Friday, January 17th. Stifel Nicolaus raised their price target on shares of Lumentum from $95.00 to $105.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Morgan Stanley lowered their price objective on shares of Lumentum from $83.00 to $81.00 and set an "equal weight" rating for the company in a research report on Friday, January 31st. Finally, Raymond James upgraded shares of Lumentum from an "outperform" rating to a "strong-buy" rating and cut their target price for the company from $96.00 to $82.00 in a research report on Monday, March 24th. Two analysts have rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Lumentum has a consensus rating of "Moderate Buy" and a consensus price target of $87.40.

Lumentum Trading Up 2.0 %

NASDAQ:LITE traded up $1.25 on Tuesday, reaching $63.59. 3,600,635 shares of the stock traded hands, compared to its average volume of 1,727,657. The company has a current ratio of 4.76, a quick ratio of 3.60 and a debt-to-equity ratio of 2.94. Lumentum Holdings Inc. has a 1-year low of $38.29 and a 1-year high of $104.00. The company's 50 day moving average is $74.64 and its 200-day moving average is $76.35. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of -8.27 and a beta of 1.03.

Lumentum (NASDAQ:LITE - Get Free Report) last announced 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 return on equity of 7.25% and a negative net margin of 36.98%. Equities research analysts anticipate that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

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.