Lumentum Holdings Inc. (NASDAQ:LITE) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 157,494 shares of the technology company’s stock after buying an additional 335 shares during the period. Principal Financial Group Inc.’s holdings in Lumentum were worth $13,222,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Peregrine Investment Management Inc. acquired a new stake in shares of Lumentum during the fourth quarter worth about $7,252,000. Manchester Capital Management LLC boosted its stake in shares of Lumentum by 22.6% during the fourth quarter. Manchester Capital Management LLC now owns 1,029 shares of the technology company’s stock worth $86,000 after buying an additional 190 shares during the period. Legato Capital Management LLC acquired a new stake in shares of Lumentum during the fourth quarter worth about $1,188,000. Louisiana State Employees Retirement System boosted its stake in shares of Lumentum by 1.6% during the fourth quarter. Louisiana State Employees Retirement System now owns 19,100 shares of the technology company’s stock worth $1,603,000 after buying an additional 300 shares during the period. Finally, Lightrock Netherlands B.V. acquired a new stake in Lumentum in the fourth quarter valued at about $12,668,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Lumentum in a research report on Friday, February 21st. They issued a “buy” rating for the company. Stifel Nicolaus raised their price objective on shares of Lumentum from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Needham & Company LLC restated a “buy” rating and issued a $110.00 price objective on shares of Lumentum in a research report on Friday, February 7th. UBS Group increased their target price on shares of Lumentum from $93.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $110.00 target price on shares of Lumentum in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $88.07.

Insiders Place Their Bets

In other Lumentum news, CFO Wajid Ali sold 2,172 shares of Lumentum stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total value of $170,154.48. Following the transaction, the chief financial officer now owns 51,976 shares in the company, valued at $4,071,799.84. This trade 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 Trading Up 3.0 %

Shares of LITE opened at $72.50 on Thursday. The company has a debt-to-equity ratio of 2.94, a current ratio of 4.76 and a quick ratio of 3.60. The firm has a 50 day simple moving average of $84.23 and a 200-day simple moving average of $74.31. Lumentum Holdings Inc. has a 1-year low of $38.28 and a 1-year high of $104.00. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of -9.43 and a beta of 0.94.

Lumentum (NASDAQ:LITE) last released its earnings results on Thursday, February 13th. The technology company reported ($0.14) EPS 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%. Equities analysts forecast that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

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.