Lumentum Holdings Inc. (NASDAQ:LITE) Shares Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC boosted its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 6,238.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,169 shares of the technology company's stock after acquiring an additional 20,835 shares during the period. International Assets Investment Management LLC's holdings in Lumentum were worth $1,342,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in Lumentum by 13.8% during the 3rd quarter. Signaturefd LLC now owns 1,302 shares of the technology company's stock valued at $83,000 after acquiring an additional 158 shares during the period. Janney Montgomery Scott LLC increased its stake in Lumentum by 1.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 14,587 shares of the technology company's stock worth $691,000 after buying an additional 260 shares in the last quarter. Mcdonald Partners LLC grew its position in shares of Lumentum by 1.6% in the second quarter. Mcdonald Partners LLC now owns 19,830 shares of the technology company's stock valued at $1,010,000 after purchasing an additional 318 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Lumentum by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 18,868 shares of the technology company's stock worth $961,000 after buying an additional 455 shares during the last quarter. Finally, Texas Permanent School Fund Corp boosted its position in shares of Lumentum by 0.9% during the 1st quarter. Texas Permanent School Fund Corp now owns 58,259 shares of the technology company's stock worth $2,759,000 after purchasing an additional 496 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Lumentum Price Performance

NASDAQ:LITE traded up $2.01 during trading hours on Tuesday, hitting $66.18. The company's stock had a trading volume of 1,648,700 shares, compared to its average volume of 1,411,781. 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 company has a market capitalization of $4.54 billion, a P/E ratio of -8.09, a PEG ratio of 5.58 and a beta of 0.88. Lumentum Holdings Inc. has a twelve month low of $38.28 and a twelve month high of $71.07. The stock has a fifty day simple moving average of $61.90 and a 200-day simple moving average of $53.16.

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

Analyst Upgrades and Downgrades

LITE has been the topic of a number of recent analyst reports. Needham & Company LLC increased their price objective on Lumentum from $65.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, August 15th. Barclays boosted their price objective on shares of Lumentum from $38.00 to $40.00 and gave the stock an "underweight" rating in a research report on Thursday, August 15th. Morgan Stanley raised their target price 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. B. Riley upped their price objective on Lumentum from $40.00 to $50.00 and gave the stock a "neutral" rating in a report on Thursday, August 15th. Finally, Bank of America upped their target price on Lumentum from $45.00 to $50.00 and gave the stock an "underperform" rating in a research report on Thursday, August 15th. Three research 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's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average 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.