Crestline Management LP Makes New Investment in Lumentum Holdings Inc. (NASDAQ:LITE)

Crestline Management LP bought a new position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 52,831 shares of the technology company's stock, valued at approximately $4,435,000. Crestline Management LP owned about 0.08% of Lumentum at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LITE. UMB Bank n.a. increased its stake in shares of Lumentum by 301.2% in the fourth quarter. UMB Bank n.a. now owns 337 shares of the technology company's stock worth $28,000 after acquiring an additional 253 shares during the period. Jones Financial Companies Lllp boosted its holdings in Lumentum by 54.2% in 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 last quarter. 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 during the period. Quadrant Capital Group LLC raised its stake in shares of Lumentum by 27.2% during the 4th quarter. Quadrant Capital Group LLC now owns 766 shares of the technology company's stock valued at $64,000 after buying an additional 164 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Lumentum in the 4th quarter valued at about $67,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Insider Buying and Selling

In other news, CFO Wajid Ali sold 2,172 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total value of $170,154.48. Following the sale, the chief financial officer now directly owns 51,976 shares of the company's stock, valued at approximately $4,071,799.84. The trade was a 4.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by company insiders.

Lumentum Price Performance

Shares of NASDAQ:LITE traded down $0.79 during midday trading on Friday, hitting $64.87. The company's stock had a trading volume of 2,324,278 shares, compared to its average volume of 1,938,562. The company has a market cap of $4.49 billion, a P/E ratio of -8.44 and a beta of 1.18. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76. Lumentum Holdings Inc. has a 12-month low of $38.29 and a 12-month high of $104.00. The business's 50 day simple moving average is $60.21 and its 200 day simple moving average is $74.67.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its earnings results on Tuesday, May 6th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.07. The business had revenue of $425.20 million during the quarter, compared to the consensus estimate of $418.18 million. Lumentum had a negative return on equity of 7.25% and a negative net margin of 36.98%. The company's revenue for the quarter was up 16.0% on a year-over-year basis. During the same period last year, the company earned $0.09 EPS. On average, analysts forecast that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the company. Needham & Company LLC dropped their target price on Lumentum from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday. Raymond James lowered their price objective on Lumentum from $82.00 to $80.00 and set a "strong-buy" rating on the stock in a research report on Wednesday. BNP Paribas raised shares of Lumentum from a "neutral" rating to an "outperform" rating and set a $92.00 target price for the company in a report on Tuesday, March 11th. UBS Group lowered their price target on shares of Lumentum from $96.00 to $78.00 and set a "neutral" rating on the stock in a report on Wednesday. Finally, Rosenblatt Securities lifted their price objective on shares of Lumentum from $85.00 to $94.00 and gave the company a "buy" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.20.

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.