Marshall Wace LLP Sells 60,057 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Marshall Wace LLP lowered its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 57.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,989 shares of the technology company's stock after selling 60,057 shares during the period. Marshall Wace LLP owned approximately 0.07% of Lumentum worth $2,291,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of LITE. S Squared Technology LLC increased its stake in Lumentum by 6.4% in the fourth quarter. S Squared Technology LLC now owns 166,463 shares of the technology company's stock valued at $8,726,000 after purchasing an additional 10,000 shares in the last quarter. Vanguard Group Inc. raised its stake in Lumentum by 6.5% during the 4th quarter. Vanguard Group Inc. now owns 7,196,205 shares of the technology company's stock worth $377,225,000 after buying an additional 442,177 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in Lumentum during the fourth quarter worth about $612,000. Bridge City Capital LLC grew its stake in Lumentum by 0.7% in the first quarter. Bridge City Capital LLC now owns 32,607 shares of the technology company's stock valued at $1,544,000 after acquiring an additional 242 shares during the period. Finally, Thompson Investment Management Inc. increased its holdings in shares of Lumentum by 139.1% in the first quarter. Thompson Investment Management Inc. now owns 71,429 shares of the technology company's stock worth $3,382,000 after acquiring an additional 41,556 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Raymond James lifted their price objective on Lumentum from $55.00 to $70.00 and gave the company an "outperform" rating in a report on Friday. JPMorgan Chase & Co. upped their price target on shares of Lumentum from $57.00 to $65.00 and gave the company an "overweight" rating in a report on Monday, August 12th. Morgan Stanley increased their price objective on shares of Lumentum from $50.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 15th. Jefferies Financial Group boosted their price objective on shares of Lumentum from $53.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, August 15th. Finally, Bank of America increased their target price on Lumentum from $45.00 to $50.00 and gave the stock an "underperform" rating in a report on Thursday, August 15th. Three analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Lumentum presently has an average rating of "Hold" and a consensus price target of $60.00.

Lumentum Stock Performance

NASDAQ LITE traded up $2.64 during trading on Friday, reaching $68.80. 2,260,693 shares of the company's stock were exchanged, compared to its average volume of 1,417,827. Lumentum Holdings Inc. has a fifty-two week low of $35.35 and a fifty-two week high of $68.81. The stock has a market capitalization of $4.65 billion, a P/E ratio of -13.10, a PEG ratio of 4.83 and a beta of 0.89. The business has a 50 day moving average price of $54.66 and a 200-day moving average price of $50.18. The company has a debt-to-equity ratio of 2.61, a current ratio of 5.90 and a quick ratio of 4.43.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 14th. The technology company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $301.36 million. During the same quarter in the prior year, the business earned $0.12 EPS. The firm's revenue for the quarter was down 16.9% on a year-over-year basis. Sell-side analysts forecast that Lumentum Holdings Inc. will post 0.22 earnings per share 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.