Leeward Investments LLC MA Decreases Stock Position in Lumentum Holdings Inc. (NASDAQ:LITE)

Leeward Investments LLC MA lessened its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 6.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 349,797 shares of the technology company’s stock after selling 26,038 shares during the quarter. Lumentum makes up approximately 1.5% of Leeward Investments LLC MA’s investment portfolio, making the stock its 11th biggest holding. Leeward Investments LLC MA’s holdings in Lumentum were worth $29,365,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of LITE. Creative Planning increased its stake in Lumentum by 36.0% in the third quarter. Creative Planning now owns 6,914 shares of the technology company’s stock worth $438,000 after purchasing an additional 1,831 shares during the period. Signaturefd LLC grew its position in shares of Lumentum by 13.8% during the 3rd quarter. Signaturefd LLC now owns 1,302 shares of the technology company’s stock worth $83,000 after buying an additional 158 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Lumentum by 6,238.0% during the 3rd quarter. International Assets Investment Management LLC now owns 21,169 shares of the technology company’s stock worth $1,342,000 after buying an additional 20,835 shares in the last quarter. Mount Yale Investment Advisors LLC bought a new position in shares of Lumentum during the 3rd quarter worth $237,000. Finally, State of Alaska Department of Revenue grew its position in shares of Lumentum by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 7,848 shares of the technology company’s stock worth $497,000 after buying an additional 535 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LITE. Stifel Nicolaus raised their price objective on Lumentum from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Morgan Stanley dropped their price objective on Lumentum from $83.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. B. Riley increased their price target on Lumentum from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Susquehanna increased their price target on Lumentum from $80.00 to $115.00 and gave the company a “positive” rating in a research note on Friday, November 8th. Finally, Barclays upgraded Lumentum from an “underweight” rating to an “overweight” rating and increased their price target for the company from $80.00 to $125.00 in a research note on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Lumentum has an average rating of “Hold” and a consensus price target of $88.07.

Lumentum Stock Down 3.9 %

Shares of LITE opened at $73.35 on Friday. The company has a current ratio of 4.76, a quick ratio of 3.60 and a debt-to-equity ratio of 2.94. Lumentum Holdings Inc. has a 12 month low of $38.28 and a 12 month high of $104.00. The stock’s 50 day moving average is $85.22 and its two-hundred day moving average is $73.69. The firm has a market cap of $5.08 billion, a P/E ratio of -9.54 and a beta of 0.94.

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 return on equity of 7.25% and a negative net margin of 36.98%. Analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Transactions at Lumentum

In other news, insider Vincent Retort sold 41,710 shares of Lumentum stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $89.52, for a total value of $3,733,879.20. Following the sale, the insider now directly owns 147,515 shares of the company’s stock, valued at $13,205,542.80. The trade was a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Wajid Ali sold 2,172 shares of Lumentum stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total value of $170,154.48. Following the completion of the sale, the chief financial officer now directly owns 51,976 shares in the company, valued at $4,071,799.84. This represents a 4.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 73,769 shares of company stock valued at $6,446,222 over the last ninety days. Insiders own 0.19% of the company’s stock.

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.