Lumentum Holdings Inc. (NASDAQ:LITE) Shares Sold by Thompson Investment Management Inc.

Thompson Investment Management Inc. reduced its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 22.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,465 shares of the technology company’s stock after selling 25,089 shares during the quarter. Thompson Investment Management Inc.’s holdings in Lumentum were worth $7,259,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Quarry LP raised its holdings in Lumentum by 85.5% during the third quarter. Quarry LP now owns 436 shares of the technology company’s stock worth $28,000 after purchasing an additional 201 shares during the last quarter. UMB Bank n.a. raised its holdings in 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 last quarter. Capital Performance Advisors LLP acquired a new position in Lumentum during the third quarter worth $33,000. Nomura Asset Management Co. Ltd. raised its holdings in Lumentum by 67.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company’s stock worth $42,000 after purchasing an additional 270 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Lumentum by 141.6% during the third quarter. GAMMA Investing LLC now owns 894 shares of the technology company’s stock worth $57,000 after purchasing an additional 524 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lumentum

In other news, Director Penny Herscher sold 1,625 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $81.09, for a total transaction of $131,771.25. Following the completion of the transaction, the director now directly owns 6,852 shares of the company’s stock, valued at approximately $555,628.68. This represents a 19.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Matthew Joseph Sepe sold 8,172 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $87.60, for a total value of $715,867.20. Following the transaction, the chief accounting officer now directly owns 21,138 shares of the company’s stock, valued at $1,851,688.80. This trade represents a 27.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,797 shares of company stock valued at $8,881,428 over the last three months. 0.19% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on LITE. UBS Group raised their price target on Lumentum from $93.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday. Needham & Company LLC reissued a “buy” rating and set a $110.00 price target on shares of Lumentum in a research report on Friday. B. Riley raised their price target on Lumentum from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday. Stifel Nicolaus raised their price target on Lumentum from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Rosenblatt Securities reissued a “buy” rating and set a $110.00 price target on shares of Lumentum in a research report on Friday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $88.07.

Lumentum Stock Performance

Shares of Lumentum stock opened at $85.90 on Friday. The business’s fifty day moving average price is $87.68 and its 200 day moving average price is $71.60. Lumentum Holdings Inc. has a twelve month low of $38.28 and a twelve month high of $104.00. The company has a current ratio of 5.36, a quick ratio of 4.04 and a debt-to-equity ratio of 2.87.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative return on equity of 7.00% and a negative net margin of 36.98%. As a group, equities analysts expect that Lumentum Holdings Inc. will post -0.04 EPS 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.