1 week Ago By ABMN Staff
California Public Employees Retirement System raised its stake in Lumentum Holdings Inc. ( NASDAQ:LITE – Free Report ) by 16.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC).
The firm owned 103,381 shares of the technology company’s stock after purchasing an additional 14,798 shares during the period. California Public Employees Retirement System’s holdings in Lumentum were worth $8,679,000 as of its most recent SEC filing. Other hedge funds and other institutional investors also recently bought and sold shares of the company.
J.Safra Asset Management Corp raised its position in shares of 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 buying an additional 122 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Lumentum by 54.
2% in the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock valued at $31,000 after acquiring an additional 130 shares in the last quarter. Crossmark Global Holdings Inc.
lifted its position in shares of Lumentum by 4.0% in the 4th quarter. Crossmark Global Holdings Inc.
now owns 4,350 shares of the technology company’s stock worth $365,000 after acquiring an additional 168 shares during the period. Manchester Capital Management LLC lifted its position in shares of Lumentum by 22.6% in the 4th quarter.
Manchester Capital Management LLC now owns 1,029 shares of the technology company’s stock worth $86,000 after acquiring an additional 190 shares during the period. Finally, Synovus Financial Corp grew its holdings in shares of Lumentum by 1.5% during the 3rd quarter.
Synovus Financial Corp now owns 13,225 shares of the technology company’s stock worth $838,000 after purchasing an additional 200 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades A number of research analysts recently commented on LITE shares. B. Riley upped 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. UBS Group raised their price objective on shares of Lumentum from $93.
00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Stifel Nicolaus upped their target price on shares of Lumentum from $95.
00 to $105.00 and gave the company a “buy” rating in a research note on Friday, February 7th. 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. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $110.00 price objective on shares of Lumentum in a report on Friday, February 7th.
Two 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.40.
Insider Transactions at Lumentum In other news, CFO Wajid Ali sold 2,172 shares of the business’s stock in a transaction 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.
The trade was a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link .
0.19% of the stock is owned by company insiders. Lumentum Trading Down 7.
3 % Shares of LITE opened at $49.56 on Monday. The stock has a fifty day moving average price of $71.
46 and a two-hundred day moving average price of $76.38. The company has a debt-to-equity ratio of 2.
94, a quick ratio of 3.60 and a current ratio of 4.76.
The company has a market cap of $3.43 billion, a price-to-earnings ratio of -6.44 and a beta of 1.
14. Lumentum Holdings Inc. has a 52-week low of $38.
29 and a 52-week high of $104.00. Lumentum ( NASDAQ:LITE – Get Free Report ) last released 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%. Analysts predict that Lumentum Holdings Inc. will post 0.
03 EPS for the current fiscal year. Lumentum 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. Featured Articles Want to see what other hedge funds are holding LITE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lumentum Holdings Inc.
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