Susquehanna Fundamental Investments LLC Has $1.52 Million Position in Lumentum Holdings Inc. (NASDAQ:LITE)

Susquehanna Fundamental Investments LLC grew its position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 106.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,936 shares of the technology company's stock after purchasing an additional 15,436 shares during the quarter. Susquehanna Fundamental Investments LLC's holdings in Lumentum were worth $1,524,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 DIFC Ltd purchased a new position in shares of Lumentum during the second quarter worth about $36,000. Signaturefd LLC grew its stake in shares of Lumentum by 93.9% in the 2nd quarter. Signaturefd LLC now owns 1,144 shares of the technology company's stock valued at $58,000 after purchasing an additional 554 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Lumentum in the first quarter valued at approximately $112,000. nVerses Capital LLC raised its stake in shares of Lumentum by 416.7% during the second quarter. nVerses Capital LLC now owns 3,100 shares of the technology company's stock worth $158,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Lumentum during the second quarter worth $210,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Analysts Set New Price Targets

LITE has been the topic of several analyst reports. Bank of America lifted their target price on shares of Lumentum from $45.00 to $50.00 and gave the company an "underperform" rating in a report on Thursday, August 15th. Craig Hallum boosted their target price on Lumentum from $65.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, August 15th. Northland Securities increased their target price on Lumentum from $40.00 to $45.00 and gave the stock a "market perform" rating in a research note on Friday, August 16th. JPMorgan Chase & Co. lifted their price target on Lumentum from $57.00 to $65.00 and gave the company an "overweight" rating in a research note on Monday, August 12th. Finally, Jefferies Financial Group increased their price objective on Lumentum from $53.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, August 15th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $59.08.

Lumentum Stock Up 5.7 %

LITE traded up $3.51 on Wednesday, reaching $65.00. 1,150,079 shares of the company traded hands, compared to its average volume of 1,413,452. The company has a market cap of $4.39 billion, a price-to-earnings ratio of -12.38, a PEG ratio of 4.83 and a beta of 0.88. The company has a debt-to-equity ratio of 2.61, a current ratio of 5.90 and a quick ratio of 4.43. The stock's 50 day moving average price is $53.76 and its 200-day moving average price is $49.81. Lumentum Holdings Inc. has a 52-week low of $35.35 and a 52-week high of $65.52.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 14th. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. Lumentum had a negative return on equity of 4.79% and a negative net margin of 40.21%. The business had revenue of $308.30 million during the quarter, compared to analyst estimates of $301.36 million. During the same period in the previous year, the company earned $0.12 EPS. The firm's revenue was down 16.9% on a year-over-year basis. On average, sell-side analysts expect that Lumentum Holdings Inc. will post 0.22 EPS for the current fiscal 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.