Lumentum Holdings Inc. (NASDAQ:LITE) Shares Sold by Thompson Investment Management Inc.

Thompson Investment Management Inc. cut its stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 22.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,465 shares of the technology company's stock after selling 25,089 shares during the quarter. Thompson Investment Management Inc. owned 0.13% of Lumentum worth $7,259,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Signaturefd LLC increased its position in shares of Lumentum by 13.8% during the third 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 last quarter. Crossmark Global Holdings Inc. increased its position in shares of Lumentum by 4.0% during the fourth quarter. Crossmark Global Holdings Inc. now owns 4,350 shares of the technology company's stock valued at $365,000 after acquiring an additional 168 shares during the last quarter. Synovus Financial Corp increased its position in shares of Lumentum by 1.5% during the third quarter. Synovus Financial Corp now owns 13,225 shares of the technology company's stock valued at $838,000 after acquiring an additional 200 shares during the last quarter. Quarry LP increased its position in shares of Lumentum by 85.5% during the third quarter. Quarry LP now owns 436 shares of the technology company's stock valued at $28,000 after acquiring an additional 201 shares during the last quarter. Finally, UMB Bank n.a. increased its position in shares of Lumentum by 301.2% during the fourth quarter. UMB Bank n.a. now owns 337 shares of the technology company's stock valued at $28,000 after acquiring an additional 253 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lumentum

In related news, CAO Matthew Joseph Sepe sold 8,172 shares of the company's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $87.60, for a total value of $715,867.20. Following the completion of the transaction, the chief accounting officer now owns 21,138 shares of the company's stock, valued at approximately $1,851,688.80. This represents a 27.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Vincent Retort sold 41,710 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.52, for a total transaction of $3,733,879.20. Following the completion of the transaction, the insider now directly owns 147,515 shares of the company's stock, valued at $13,205,542.80. This represents a 22.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,797 shares of company stock valued at $7,573,878. 0.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

LITE has been the subject of several research reports. B. Riley increased their price objective on Lumentum from $62.00 to $75.00 and gave the company a "neutral" rating in a report on Friday. UBS Group increased their price objective on Lumentum from $93.00 to $96.00 and gave the company a "neutral" rating in a report on Friday. Morgan Stanley reduced their price objective on Lumentum from $83.00 to $81.00 and set an "equal weight" rating for the company in a report on Friday, January 31st. Susquehanna increased their price objective on Lumentum from $80.00 to $115.00 and gave the company a "positive" rating in a report on Friday, November 8th. Finally, Raymond James increased their price objective on Lumentum from $94.00 to $96.00 and gave the company an "outperform" rating in a report on Friday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Lumentum presently has a consensus rating of "Hold" and a consensus target price of $88.07.

Lumentum Trading Down 2.8 %

NASDAQ:LITE traded down $2.33 during mid-day trading on Tuesday, reaching $79.60. 2,519,169 shares of the company's stock traded hands, compared to its average volume of 2,494,100. Lumentum Holdings Inc. has a 12-month low of $38.28 and a 12-month high of $104.00. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of -10.35 and a beta of 0.94. The company has a debt-to-equity ratio of 2.87, a current ratio of 5.36 and a quick ratio of 4.04. The company has a 50 day moving average price of $87.59 and a 200-day moving average price of $71.95.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.27 by ($0.41). Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.00%. On average, sell-side analysts predict that Lumentum Holdings Inc. will post -0.04 earnings per share for the current year.

Lumentum Company 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.