S Squared Technology LLC Has $2.22 Million Holdings in Lumentum Holdings Inc. (NASDAQ:LITE)

S Squared Technology LLC lessened its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 84.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,463 shares of the technology company's stock after selling 140,000 shares during the quarter. Lumentum comprises approximately 0.9% of S Squared Technology LLC's holdings, making the stock its 29th largest position. S Squared Technology LLC's holdings in Lumentum were worth $2,222,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Robeco Institutional Asset Management B.V. bought a new position in shares of Lumentum in the fourth quarter valued at approximately $646,000. SBI Securities Co. Ltd. acquired a new position in Lumentum during the 4th quarter worth $739,000. M&T Bank Corp boosted its holdings in Lumentum by 54.2% during the fourth quarter. M&T Bank Corp now owns 18,104 shares of the technology company's stock valued at $1,520,000 after acquiring an additional 6,361 shares during the period. Aigen Investment Management LP boosted its position in shares of Lumentum by 72.9% in the fourth quarter. Aigen Investment Management LP now owns 17,440 shares of the technology company's stock valued at $1,464,000 after acquiring an additional 7,354 shares during the period. Finally, Zweig DiMenna Associates LLC acquired a new position in shares of Lumentum during the fourth quarter valued at about $7,052,000. 94.05% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Wajid Ali sold 2,172 shares of the stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.19% of the company's stock.

Lumentum Stock Up 4.5 %

LITE stock traded up $2.24 during midday trading on Tuesday, hitting $52.31. The company's stock had a trading volume of 516,475 shares, compared to its average volume of 1,874,063. The stock has a market capitalization of $3.62 billion, a P/E ratio of -6.79 and a beta of 1.14. The company's fifty day moving average price is $63.67 and its 200 day moving average price is $75.35. The company has a debt-to-equity ratio of 2.94, a current ratio of 4.76 and a quick ratio of 3.60. Lumentum Holdings Inc. has a twelve month low of $38.29 and a twelve month high of $104.00.

Lumentum (NASDAQ:LITE - Get Free Report) last released 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%. As a group, equities research analysts predict that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Wall Street Analyst Weigh In

LITE has been the topic of several analyst reports. Northland Securities raised shares of Lumentum from a "market perform" rating to an "outperform" rating in a report on Monday, April 7th. B. Riley lifted 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. JPMorgan Chase & Co. cut their target price on shares of Lumentum from $105.00 to $73.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Northland Capmk upgraded shares of Lumentum from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $110.00 target price on shares of Lumentum in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating, ten have assigned 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 price target of $84.27.

Lumentum 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.