Lumentum Holdings Inc. (NASDAQ:LITE) Position Lowered by Whalen Wealth Management Inc.

Whalen Wealth Management Inc. lessened its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 74.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,801 shares of the technology company's stock after selling 8,161 shares during the quarter. Whalen Wealth Management Inc.'s holdings in Lumentum were worth $235,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in Lumentum by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,703,969 shares of the technology company's stock worth $86,760,000 after acquiring an additional 130,838 shares during the last quarter. Atreides Management LP lifted its stake in Lumentum by 28.5% in the 3rd quarter. Atreides Management LP now owns 1,691,017 shares of the technology company's stock valued at $107,177,000 after buying an additional 375,389 shares in the last quarter. Geode Capital Management LLC grew its holdings in Lumentum by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,186,163 shares of the technology company's stock valued at $75,198,000 after buying an additional 15,799 shares during the last quarter. Divisar Capital Management LLC grew its holdings in Lumentum by 5.8% during the 2nd quarter. Divisar Capital Management LLC now owns 961,574 shares of the technology company's stock valued at $48,963,000 after buying an additional 52,300 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Lumentum by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 738,155 shares of the technology company's stock worth $46,784,000 after acquiring an additional 37,109 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lumentum

In related news, CAO Matthew Joseph Sepe sold 8,172 shares of Lumentum 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 sale, the chief accounting officer now owns 21,138 shares of the company's stock, valued at $1,851,688.80. The trade was a 27.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Penny Herscher sold 1,625 shares of the company's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $81.09, for a total transaction of $131,771.25. Following the completion of the transaction, the director now directly owns 6,852 shares of the company's stock, valued at approximately $555,628.68. The trade was a 19.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,797 shares of company stock valued at $8,881,428 over the last quarter. Company insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LITE. Rosenblatt Securities increased their price objective on Lumentum from $69.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Morgan Stanley raised their price target on shares of Lumentum from $76.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Tuesday, December 17th. Susquehanna upped their price objective on shares of Lumentum from $80.00 to $115.00 and gave the company a "positive" rating in a research note on Friday, November 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $110.00 target price on shares of Lumentum in a research note on Thursday, January 9th. Finally, Raymond James boosted their price target on Lumentum from $70.00 to $100.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $81.92.

Lumentum Trading Down 1.0 %

LITE traded down $1.05 on Thursday, reaching $99.33. 1,302,196 shares of the company's stock were exchanged, compared to its average volume of 1,568,267. Lumentum Holdings Inc. has a twelve month low of $38.28 and a twelve month high of $104.00. The company's 50 day moving average is $87.34 and its 200-day moving average is $69.14. The company has a debt-to-equity ratio of 2.87, a quick ratio of 4.04 and a current ratio of 5.36. The company has a market cap of $6.82 billion, a price-to-earnings ratio of -12.00 and a beta of 0.94.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its earnings results on Thursday, November 7th. The technology company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.48). Lumentum had a negative net margin of 40.70% and a negative return on equity of 6.79%. The business had revenue of $336.90 million during the quarter, compared to analysts' expectations of $326.94 million. During the same period in the prior year, the business posted ($0.10) EPS. Equities analysts predict that Lumentum Holdings Inc. will post -0.02 earnings per share for the current year.

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.