Lumentum Holdings Inc. (NASDAQ:LITE) Shares Sold by Capital Advantage Inc.

Capital Advantage Inc. cut its stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 84.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 institutional investors and hedge funds also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. bought a new stake in shares of Lumentum in the 4th quarter worth about $646,000. SBI Securities Co. Ltd. bought a new stake in Lumentum in the fourth quarter worth about $739,000. M&T Bank Corp boosted its position in shares of Lumentum by 54.2% during the fourth quarter. M&T Bank Corp now owns 18,104 shares of the technology company's stock valued at $1,520,000 after buying an additional 6,361 shares during the period. Aigen Investment Management LP boosted its position in shares of Lumentum by 72.9% during the fourth quarter. Aigen Investment Management LP now owns 17,440 shares of the technology company's stock valued at $1,464,000 after buying an additional 7,354 shares during the period. Finally, Zweig DiMenna Associates LLC purchased a new stake in shares of Lumentum in the fourth quarter worth approximately $7,052,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Lumentum Trading Up 8.2%

LITE stock traded up $5.35 during mid-day trading on Monday, hitting $70.22. 1,630,330 shares of the company were exchanged, compared to its average volume of 1,937,516. The company has a quick ratio of 3.60, a current ratio of 4.76 and a debt-to-equity ratio of 2.94. The firm has a market capitalization of $4.86 billion, a P/E ratio of -9.13 and a beta of 1.18. The business has a fifty day simple moving average of $60.21 and a 200-day simple moving average of $74.74. Lumentum Holdings Inc. has a 12-month low of $38.29 and a 12-month high of $104.00.

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

Analysts Set New Price Targets

LITE has been the topic of a number of recent analyst reports. BNP Paribas upgraded Lumentum from a "neutral" rating to an "outperform" rating and set a $92.00 target price on the stock in a research note on Tuesday, March 11th. Stifel Nicolaus lifted their price objective on shares of Lumentum from $95.00 to $105.00 and gave the company a "buy" rating in a report on Friday, February 7th. Northland Securities set a $80.00 price objective on Lumentum in a report on Wednesday. Morgan Stanley reduced their price target on Lumentum from $83.00 to $81.00 and set an "equal weight" rating for the company in a research report on Friday, January 31st. Finally, Rosenblatt Securities lifted their target price on Lumentum from $85.00 to $94.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $82.20.

Insider Activity at Lumentum

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 transaction, the chief financial officer now directly owns 51,976 shares in the company, 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 can be accessed through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

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.