1,030 Shares in Lumentum Holdings Inc. (NASDAQ:LITE) Acquired by R Squared Ltd

R Squared Ltd purchased a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 1,030 shares of the technology company’s stock, valued at approximately $86,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. UMB Bank n.a. raised its position 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 worth $28,000 after purchasing an additional 253 shares during the period. Quarry LP increased 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 purchasing an additional 201 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Lumentum during the 3rd quarter worth about $33,000. Nomura Asset Management Co. Ltd. lifted its stake 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 buying an additional 270 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of Lumentum in the second quarter worth about $36,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Buying and Selling

In other Lumentum news, CFO Wajid Ali sold 29,887 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $85.06, for a total transaction of $2,542,188.22. Following the completion of the transaction, the chief financial officer now owns 56,492 shares of the company’s stock, valued at $4,805,209.52. The trade was a 34.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew Joseph Sepe sold 8,172 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $87.60, for a total value of $715,867.20. Following the completion of the sale, the chief accounting officer now directly owns 21,138 shares in the company, valued at approximately $1,851,688.80. This represents a 27.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,797 shares of company stock worth $8,881,428. 0.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $110.00 price target on shares of Lumentum in a report on Thursday, January 9th. Susquehanna boosted their target price on shares of Lumentum from $80.00 to $115.00 and gave the company a “positive” rating in a research note on Friday, November 8th. Raymond James raised their target price on Lumentum from $70.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Barclays raised Lumentum from an “underweight” rating to an “overweight” rating and upped their price target for the company from $80.00 to $125.00 in a research report on Friday, January 17th. Finally, Morgan Stanley raised their price objective on Lumentum from $76.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.92.

Lumentum Stock Performance

LITE stock opened at $83.98 on Friday. The company has a market capitalization of $5.77 billion, a price-to-earnings ratio of -10.14 and a beta of 0.94. The firm has a 50 day moving average of $87.56 and a two-hundred day moving average of $70.21. The company has a quick ratio of 4.04, a current ratio of 5.36 and a debt-to-equity ratio of 2.87. Lumentum Holdings Inc. has a 12 month low of $38.28 and a 12 month high of $104.00.

Lumentum (NASDAQ:LITE) last posted its earnings results on Thursday, November 7th. The technology company reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.48). Lumentum had a negative return on equity of 6.79% and a negative net margin of 40.70%. The business had revenue of $336.90 million for the quarter, compared to analyst estimates of $326.94 million. During the same period in the previous year, the company earned ($0.10) earnings per share. As a group, equities analysts anticipate that Lumentum Holdings Inc. will post -0.02 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.