Caxton Associates LP Takes Position in Lumentum Holdings Inc. (NASDAQ:LITE)

Caxton Associates LP purchased a new position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 18,577 shares of the technology company's stock, valued at approximately $1,560,000.

Other large investors also recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its stake in Lumentum by 35.6% in the third quarter. Tidal Investments LLC now owns 18,669 shares of the technology company's stock worth $1,183,000 after purchasing an additional 4,899 shares during the last quarter. GAMMA Investing LLC increased its stake in Lumentum by 33.3% in the fourth quarter. GAMMA Investing LLC now owns 1,192 shares of the technology company's stock worth $100,000 after purchasing an additional 298 shares during the period. Friedenthal Financial bought a new stake in shares of Lumentum during the fourth quarter worth $773,000. Assenagon Asset Management S.A. purchased a new stake in shares of Lumentum during the fourth quarter valued at $2,723,000. Finally, Hanseatic Management Services Inc. purchased a new position in Lumentum in the 4th quarter worth about $1,165,000. 94.05% of the stock is owned by institutional investors.

Insider Activity at Lumentum

In related news, CFO Wajid Ali sold 2,172 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total value of $170,154.48. Following the completion of the transaction, the chief financial officer now directly owns 51,976 shares of the company's stock, valued at approximately $4,071,799.84. This represents a 4.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LITE has been the topic of several research reports. Raymond James reduced their price objective on Lumentum from $82.00 to $80.00 and set a "strong-buy" rating on the stock in a report on Wednesday. Jefferies Financial Group assumed coverage on shares of Lumentum in a research note on Friday, February 21st. They issued a "buy" rating for the company. Rosenblatt Securities boosted their price target on shares of Lumentum from $85.00 to $94.00 and gave the company a "buy" rating in a report on Wednesday. Needham & Company LLC dropped their price objective on shares of Lumentum from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Morgan Stanley reduced their price objective on shares of Lumentum from $83.00 to $81.00 and set an "equal weight" rating for the company in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Lumentum currently has a consensus rating of "Moderate Buy" and an average price target of $82.20.

Lumentum Stock Performance

Shares of NASDAQ:LITE traded down $0.79 during trading on Friday, hitting $64.87. 2,324,278 shares of the stock traded hands, compared to its average volume of 1,938,562. 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 company has a fifty day moving average price of $60.21 and a two-hundred day moving average price of $74.67. Lumentum Holdings Inc. has a 52-week low of $38.29 and a 52-week high of $104.00. The company has a market cap of $4.49 billion, a price-to-earnings ratio of -8.44 and a beta of 1.18.

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

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.