Daiwa Securities Group Inc. Makes New $67,000 Investment in Lumentum Holdings Inc. (NASDAQ:LITE)

Daiwa Securities Group Inc. acquired a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 800 shares of the technology company’s stock, valued at approximately $67,000.

Other large investors have also recently made changes to their positions in the company. UMB Bank n.a. grew its holdings 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 buying an additional 253 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of 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 last quarter. Quarry LP lifted its position in 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 purchasing an additional 201 shares during the period. J.Safra Asset Management Corp lifted its position in Lumentum by 31.1% during the fourth quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company’s stock valued at $43,000 after purchasing an additional 122 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its position in Lumentum by 67.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company’s stock valued at $42,000 after purchasing an additional 270 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lumentum

In related news, CFO Wajid Ali sold 2,172 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were 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 of the company’s stock, valued at approximately $4,071,799.84. This represents a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. B. Riley boosted their target price on shares of Lumentum from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Jefferies Financial Group assumed coverage on shares of Lumentum in a research report on Friday, February 21st. They set a “buy” rating for the company. Stifel Nicolaus boosted their target price 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. Northland Securities boosted their target price on shares of Lumentum from $60.00 to $70.00 and gave the company a “market perform” rating in a research report on Friday, February 7th. Finally, Morgan Stanley decreased their target price on shares of Lumentum from $83.00 to $81.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Lumentum currently has a consensus rating of “Moderate Buy” and an average target price of $88.33.

Lumentum Stock Up 7.4 %

LITE stock opened at $68.31 on Tuesday. The stock has a market capitalization of $4.73 billion, a P/E ratio of -8.88 and a beta of 1.03. The firm has a 50-day simple moving average of $78.81 and a 200-day simple moving average of $75.46. The company has a quick ratio of 3.60, a current ratio of 4.76 and a debt-to-equity ratio of 2.94. Lumentum Holdings Inc. has a 52 week low of $38.29 and a 52 week high of $104.00.

Lumentum (NASDAQ:LITE) last released its earnings results on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates 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 earnings per share for the current fiscal year.

About Lumentum

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.