25,751 Shares in Lumentum Holdings Inc. (NASDAQ:LITE) Purchased by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 25,751 shares of the technology company's stock, valued at approximately $1,632,000.

Several other hedge funds also recently made changes to their positions in LITE. Vanguard Group Inc. lifted its stake in Lumentum by 6.5% in the 4th quarter. Vanguard Group Inc. now owns 7,196,205 shares of the technology company's stock worth $377,225,000 after purchasing an additional 442,177 shares in the last quarter. State of Michigan Retirement System increased its stake in Lumentum by 3.1% in the 1st quarter. State of Michigan Retirement System now owns 16,528 shares of the technology company's stock worth $783,000 after acquiring an additional 500 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Lumentum by 3.1% during the 1st quarter. Principal Financial Group Inc. now owns 253,789 shares of the technology company's stock valued at $12,017,000 after acquiring an additional 7,739 shares during the last quarter. Perigon Wealth Management LLC purchased a new position in shares of Lumentum during the first quarter worth about $236,000. Finally, Retirement Systems of Alabama increased its position in shares of Lumentum by 13.9% in the first quarter. Retirement Systems of Alabama now owns 357,452 shares of the technology company's stock worth $16,925,000 after purchasing an additional 43,687 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Lumentum Stock Down 1.6 %

Shares of LITE stock traded down $1.02 during trading hours on Thursday, hitting $64.64. 984,247 shares of the company's stock traded hands, compared to its average volume of 1,421,680. The company has a quick ratio of 4.43, a current ratio of 5.90 and a debt-to-equity ratio of 2.61. The stock's fifty day simple moving average is $60.35 and its two-hundred day simple moving average is $51.94. Lumentum Holdings Inc. has a 12-month low of $35.35 and a 12-month high of $71.07. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of -12.31, a PEG ratio of 5.78 and a beta of 0.89.

Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings results on Wednesday, August 14th. The technology company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. The firm had revenue of $308.30 million for the quarter, compared to analysts' expectations of $301.36 million. Lumentum had a negative return on equity of 4.79% and a negative net margin of 40.21%. The company's revenue was down 16.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 EPS. On average, analysts expect that Lumentum Holdings Inc. will post 0.2 EPS for the current year.

Analyst Ratings Changes

LITE has been the subject of several research analyst reports. B. Riley lifted their target price on shares of Lumentum from $40.00 to $50.00 and gave the company a "neutral" rating in a research report on Thursday, August 15th. Rosenblatt Securities upped their target price on shares of Lumentum from $65.00 to $69.00 and gave the stock a "buy" rating in a research report on Thursday, August 15th. Susquehanna raised their price target on Lumentum from $70.00 to $80.00 and gave the company a "positive" rating in a research report on Monday. Needham & Company LLC upped their price objective on Lumentum from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, August 15th. Finally, Northland Securities raised their price objective on Lumentum from $40.00 to $45.00 and gave the company a "market perform" rating in a report on Friday, August 16th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Lumentum presently has a consensus rating of "Hold" and a consensus target price of $60.77.

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.