Lumentum Holdings Inc. (NASDAQ:LITE) Shares Purchased by Emerald Advisers LLC

Emerald Advisers LLC boosted its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 12.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 425,079 shares of the technology company’s stock after buying an additional 46,544 shares during the quarter. Lumentum accounts for 1.4% of Emerald Advisers LLC’s holdings, making the stock its 17th largest position. Emerald Advisers LLC’s holdings in Lumentum were worth $35,685,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in LITE. J.Safra Asset Management Corp grew its position in Lumentum by 31.1% during the 4th quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company’s stock worth $43,000 after purchasing an additional 122 shares in the last quarter. Jones Financial Companies Lllp grew its position in Lumentum by 54.2% during the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock worth $31,000 after purchasing an additional 130 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Lumentum by 4.0% during the 4th quarter. Crossmark Global Holdings Inc. now owns 4,350 shares of the technology company’s stock valued at $365,000 after acquiring an additional 168 shares in the last quarter. Manchester Capital Management LLC grew its holdings in shares of Lumentum by 22.6% during the 4th quarter. Manchester Capital Management LLC now owns 1,029 shares of the technology company’s stock valued at $86,000 after acquiring an additional 190 shares in the last quarter. 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 valued at $838,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Activity at Lumentum

In related news, CFO Wajid Ali sold 2,172 shares of the 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 completion of the sale, the chief financial officer now owns 51,976 shares in the company, valued at approximately $4,071,799.84. This trade represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Lumentum Stock Down 3.2 %

Lumentum stock opened at $66.61 on Friday. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of -8.66 and a beta of 1.03. The company has a debt-to-equity ratio of 2.94, a current ratio of 4.76 and a quick ratio of 3.60. Lumentum Holdings Inc. has a fifty-two week low of $38.29 and a fifty-two week high of $104.00. The firm has a fifty day moving average price of $77.36 and a two-hundred day moving average price of $75.63.

Lumentum (NASDAQ:LITE) last released its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share 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%. As a group, analysts forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. UBS Group boosted their price target on shares of Lumentum from $93.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, February 7th. B. Riley boosted their price target on shares of Lumentum from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Jefferies Financial Group assumed coverage on shares of Lumentum in a report on Friday, February 21st. They set a “buy” rating on the stock. 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 report on Friday, February 7th. Finally, Barclays upgraded shares of Lumentum from an “underweight” rating to an “overweight” rating and boosted their price target for the company from $80.00 to $125.00 in a report on Friday, January 17th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently 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.