Lumentum Holdings Inc. (NASDAQ:LITE) Holdings Raised by Xponance Inc.

Xponance Inc. increased its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 10.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,064 shares of the technology company’s stock after purchasing an additional 779 shares during the quarter. Xponance Inc.’s holdings in Lumentum were worth $677,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. UMB Bank n.a. lifted its holdings in shares of Lumentum by 301.2% in the fourth quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock valued at $28,000 after purchasing an additional 253 shares in the last quarter. Jones Financial Companies Lllp raised its position in Lumentum by 54.2% during the fourth quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock valued at $31,000 after buying an additional 130 shares during the period. Quarry LP lifted its stake in Lumentum by 85.5% in the 3rd quarter. Quarry LP now owns 436 shares of the technology company’s stock worth $28,000 after acquiring an additional 201 shares in the last quarter. J.Safra Asset Management Corp boosted its position in Lumentum by 31.1% during the 4th quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company’s stock worth $43,000 after acquiring an additional 122 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its stake in Lumentum by 67.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company’s stock valued at $42,000 after acquiring an additional 270 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Transactions at Lumentum

In related news, CFO Wajid Ali sold 2,172 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total transaction of $170,154.48. Following the completion of the sale, the chief financial officer now owns 51,976 shares in the company, valued at $4,071,799.84. This represents a 4.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by corporate insiders.

Lumentum Price Performance

Shares of NASDAQ:LITE opened at $71.07 on Wednesday. The stock has a market capitalization of $4.92 billion, a P/E ratio of -9.24 and a beta of 1.03. The business has a 50-day moving average of $76.87 and a two-hundred day moving average of $76.04. Lumentum Holdings Inc. has a fifty-two week low of $38.29 and a fifty-two week high of $104.00. The company has a debt-to-equity ratio of 2.94, a current ratio of 4.76 and a quick ratio of 3.60.

Lumentum (NASDAQ:LITE) last posted its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative return on equity of 7.25% and a negative net margin of 36.98%. On average, equities research analysts predict that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LITE. Needham & Company LLC reissued a “buy” rating and issued a $110.00 price target on shares of Lumentum in a research report on Friday, February 7th. B. Riley upped their price objective on shares of Lumentum from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Northland Securities increased their target price on shares of Lumentum from $60.00 to $70.00 and gave the stock a “market perform” rating in a research report on Friday, February 7th. Raymond James upgraded shares of Lumentum from an “outperform” rating to a “strong-buy” rating and lowered their price target for the company from $96.00 to $82.00 in a report on Monday. Finally, Jefferies Financial Group started coverage on Lumentum in a report on Friday, February 21st. They set a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $87.40.

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.