King Luther Capital Management Corp Acquires 17,551 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

King Luther Capital Management Corp raised its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 21.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 99,882 shares of the technology company’s stock after buying an additional 17,551 shares during the quarter. King Luther Capital Management Corp owned 0.15% of Lumentum worth $8,385,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP lifted its position in shares of Lumentum by 85.5% during the 3rd quarter. Quarry LP now owns 436 shares of the technology company’s stock valued at $28,000 after acquiring an additional 201 shares during the period. UMB Bank n.a. increased its stake in Lumentum by 301.2% in the fourth quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock valued at $28,000 after purchasing an additional 253 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Lumentum by 54.2% during the fourth quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock valued at $31,000 after purchasing an additional 130 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Lumentum during the 3rd quarter worth about $33,000. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of Lumentum by 67.5% in the 3rd 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 during the period. 94.05% of the stock is currently owned by institutional investors.

Insider Activity

In other Lumentum news, CFO Wajid Ali sold 2,172 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total value of $170,154.48. Following the transaction, the chief financial officer now directly 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Lumentum Trading Up 8.1 %

Shares of LITE stock opened at $62.05 on Wednesday. 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 capitalization of $4.29 billion, a price-to-earnings ratio of -8.07 and a beta of 1.03. Lumentum Holdings Inc. has a 52-week low of $38.29 and a 52-week high of $104.00. The company has a 50-day simple moving average of $80.68 and a two-hundred day simple moving average of $75.25.

Lumentum (NASDAQ:LITE) last released its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. Research analysts anticipate that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. BNP Paribas raised Lumentum from a “neutral” rating to an “outperform” rating and set a $92.00 price target on the stock in a research note on Tuesday. UBS Group boosted their price objective on Lumentum from $93.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Northland Securities increased their target price on Lumentum from $60.00 to $70.00 and gave the stock a “market perform” rating in a report on Friday, February 7th. Raymond James boosted their price target on shares of Lumentum from $94.00 to $96.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, Rosenblatt Securities restated a “buy” rating and set a $110.00 price objective on shares of Lumentum in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $88.33.

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.