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

Xponance Inc. grew its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 10.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. 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 SEC.

Several other large investors have also modified their holdings of the stock. Atreides Management LP boosted its holdings in Lumentum by 28.5% in the third quarter. Atreides Management LP now owns 1,691,017 shares of the technology company’s stock worth $107,177,000 after purchasing an additional 375,389 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Lumentum in the 3rd quarter worth about $17,981,000. Proficio Capital Partners LLC acquired a new position in shares of Lumentum in the 4th quarter valued at about $13,421,000. Lightrock Netherlands B.V. bought a new stake in shares of Lumentum during the 4th quarter valued at about $12,668,000. Finally, Fisher Asset Management LLC grew its position in shares of Lumentum by 18.8% during the 4th quarter. Fisher Asset Management LLC now owns 687,311 shares of the technology company’s stock valued at $57,700,000 after buying an additional 108,740 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Lumentum Trading Down 3.5 %

Lumentum stock opened at $71.07 on Wednesday. Lumentum Holdings Inc. has a 12-month low of $38.29 and a 12-month 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. The stock has a market capitalization of $4.92 billion, a PE ratio of -9.24 and a beta of 1.03. The firm has a 50 day simple moving average of $76.87 and a 200-day simple moving average of $76.04.

Lumentum (NASDAQ:LITE) last issued 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 7.25%. As a group, equities research analysts expect that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Analyst Ratings Changes

LITE has been the topic of a number of recent research reports. UBS Group raised their target price on shares of Lumentum from $93.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Northland Securities boosted their price objective on Lumentum from $60.00 to $70.00 and gave the company a “market perform” rating in a research report on Friday, February 7th. Raymond James upgraded Lumentum from an “outperform” rating to a “strong-buy” rating and lowered their price objective for the stock from $96.00 to $82.00 in a research note on Monday. B. Riley raised their target price on Lumentum from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, Barclays upgraded shares of Lumentum from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $80.00 to $125.00 in a research report on Friday, January 17th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.40.

Insider Activity 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 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 directly owns 51,976 shares of the company’s stock, valued at $4,071,799.84. This represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.19% of the company’s stock.

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.