National Bank of Canada FI Sells 26,811 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

National Bank of Canada FI trimmed its holdings in Lumentum Holdings Inc. (NASDAQ:LITEFree Report) by 94.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,440 shares of the technology company’s stock after selling 26,811 shares during the quarter. National Bank of Canada FI’s holdings in Lumentum were worth $75,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FengHe Fund Management Pte. Ltd. bought a new stake in shares of Lumentum in the fourth quarter worth approximately $19,547,000. Earnest Partners LLC raised its stake in Lumentum by 26.2% during the 3rd quarter. Earnest Partners LLC now owns 1,624,514 shares of the technology company’s stock valued at $73,396,000 after buying an additional 337,096 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. lifted its holdings in shares of Lumentum by 34.2% during the 3rd quarter. Van Lanschot Kempen Investment Management N.V. now owns 499,362 shares of the technology company’s stock valued at $22,561,000 after buying an additional 127,125 shares during the period. CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of Lumentum during the 4th quarter valued at $5,504,000. Finally, Leeward Investments LLC MA boosted its stake in shares of Lumentum by 28.5% in the 4th quarter. Leeward Investments LLC MA now owns 360,129 shares of the technology company’s stock worth $18,878,000 after buying an additional 79,814 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. B. Riley lowered their target price on Lumentum from $41.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. StockNews.com upgraded shares of Lumentum to a “sell” rating in a research report on Monday, May 6th. JPMorgan Chase & Co. reduced their target price on shares of Lumentum from $62.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. Rosenblatt Securities lifted their price target on shares of Lumentum from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Lumentum in a research note on Friday, February 9th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $51.83.

Read Our Latest Stock Report on LITE

Lumentum Stock Performance

NASDAQ:LITE opened at $46.05 on Friday. The stock has a 50-day moving average price of $45.33 and a 200 day moving average price of $47.55. The stock has a market capitalization of $3.11 billion, a P/E ratio of -8.77 and a beta of 1.09. Lumentum Holdings Inc. has a 12-month low of $35.35 and a 12-month high of $65.16. The company has a current ratio of 5.20, a quick ratio of 3.87 and a debt-to-equity ratio of 2.13.

Lumentum Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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