Van Lanschot Kempen Investment Management N.V. Sells 534,427 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Van Lanschot Kempen Investment Management N.V. lessened its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 46.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 619,140 shares of the technology company's stock after selling 534,427 shares during the quarter. Van Lanschot Kempen Investment Management N.V. owned 0.90% of Lumentum worth $51,977,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of LITE. Capital World Investors lifted its stake in Lumentum by 108.3% during the 4th quarter. Capital World Investors now owns 3,600,132 shares of the technology company's stock valued at $302,231,000 after acquiring an additional 1,871,572 shares in the last quarter. Norges Bank bought a new position in shares of Lumentum during the fourth quarter valued at about $68,962,000. Capital Research Global Investors purchased a new position in Lumentum during the fourth quarter worth about $42,415,000. Renaissance Technologies LLC grew its position in Lumentum by 524.8% in the 4th quarter. Renaissance Technologies LLC now owns 413,838 shares of the technology company's stock worth $34,742,000 after purchasing an additional 347,600 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Lumentum in the 4th quarter valued at about $24,581,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Wall Street Analysts Forecast Growth

LITE has been the subject of several recent analyst reports. Morgan Stanley reduced their target price on Lumentum from $83.00 to $81.00 and set an "equal weight" rating for the company in a report on Friday, January 31st. Northland Capmk raised Lumentum from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Northland Securities upgraded Lumentum from a "market perform" rating to an "outperform" rating in a research note on Monday, April 7th. Stifel Nicolaus increased their price target on shares of Lumentum from $95.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Finally, UBS Group lifted their price objective on shares of Lumentum from $93.00 to $96.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Lumentum has a consensus rating of "Moderate Buy" and a consensus target price of $82.60.

Insider Buying and Selling at Lumentum

In related news, CFO Wajid Ali sold 2,172 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total value of $170,154.48. Following the transaction, the chief financial officer now directly owns 51,976 shares in the company, valued at approximately $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 accessible through the SEC website. Insiders own 0.19% of the company's stock.

Lumentum Price Performance

Shares of LITE stock traded up $1.23 during trading hours on Friday, reaching $60.00. The stock had a trading volume of 1,466,852 shares, compared to its average volume of 1,895,600. The stock's fifty day simple moving average is $61.91 and its 200 day simple moving average is $74.94. The company has a current ratio of 4.76, a quick ratio of 3.60 and a debt-to-equity ratio of 2.94. The firm has a market capitalization of $4.15 billion, a PE ratio of -7.80 and a beta of 1.14. Lumentum Holdings Inc. has a 12 month low of $38.29 and a 12 month high of $104.00.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. On average, equities research analysts predict that Lumentum Holdings Inc. will post 0.03 EPS for the current 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.