Capital Advantage Inc. Has $276,000 Stock Holdings in Lumentum Holdings Inc. (NASDAQ:LITE)

Capital Advantage Inc. lessened its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 84.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,291 shares of the technology company's stock after selling 17,299 shares during the quarter. Capital Advantage Inc.'s holdings in Lumentum were worth $276,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Tidal Investments LLC boosted its holdings in shares of Lumentum by 35.6% during the third quarter. Tidal Investments LLC now owns 18,669 shares of the technology company's stock worth $1,183,000 after acquiring an additional 4,899 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Lumentum by 33.3% during the fourth quarter. GAMMA Investing LLC now owns 1,192 shares of the technology company's stock worth $100,000 after buying an additional 298 shares in the last quarter. Friedenthal Financial acquired a new position in shares of Lumentum in the fourth quarter valued at about $773,000. Assenagon Asset Management S.A. bought a new position in Lumentum during the fourth quarter worth about $2,723,000. Finally, Hanseatic Management Services Inc. bought a new stake in Lumentum in the 4th quarter valued at about $1,165,000. Institutional investors own 94.05% of the company's stock.

Lumentum Trading Up 2.0 %

Shares of NASDAQ LITE opened at $64.42 on Wednesday. The stock has a market cap of $4.46 billion, a P/E ratio of -8.38 and a beta of 1.18. The firm has a 50 day moving average price of $60.29 and a two-hundred day moving average price of $74.68. 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 52-week low of $38.29 and a 52-week high of $104.00.

Lumentum (NASDAQ:LITE - Get Free Report) last announced 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 return on equity of 7.25% and a negative net margin of 36.98%. As a group, equities analysts forecast that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Wall Street Analysts Forecast Growth

LITE has been the subject of a number of analyst reports. Northland Securities upgraded shares of Lumentum from a "market perform" rating to an "outperform" rating in a research report on Monday, April 7th. Needham & Company LLC reissued a "buy" rating and set a $110.00 target price on shares of Lumentum in a report on Friday, February 7th. B. Riley upped their price objective on shares of Lumentum from $62.00 to $75.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Raymond James raised shares of Lumentum from an "outperform" rating to a "strong-buy" rating and cut their price target for the stock from $96.00 to $82.00 in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. lowered their price target on Lumentum from $105.00 to $73.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $82.60.

Insiders Place Their Bets

In other Lumentum news, CFO Wajid Ali sold 2,172 shares of Lumentum stock in a transaction 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

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.

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