Collar Capital Management LLC Acquires Shares of 19,269 Lumentum Holdings Inc. (NASDAQ:LITE)

Collar Capital Management LLC bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,269 shares of the technology company's stock, valued at approximately $1,618,000.

Several other hedge funds also recently made changes to their positions in LITE. UMB Bank n.a. raised its position in shares of Lumentum by 301.2% in the 4th quarter. UMB Bank n.a. now owns 337 shares of the technology company's stock valued at $28,000 after buying an additional 253 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Lumentum by 54.2% in the 4th 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 in the last quarter. CoreCap Advisors LLC increased its stake in shares of Lumentum by 2,235.3% in the 4th quarter. CoreCap Advisors LLC now owns 397 shares of the technology company's stock valued at $33,000 after purchasing an additional 380 shares during the last quarter. J.Safra Asset Management Corp raised its holdings in shares of 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 buying an additional 122 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position 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 worth $64,000 after buying an additional 164 shares during the last quarter. 94.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Lumentum from $105.00 to $73.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. BNP Paribas upgraded Lumentum from a "neutral" rating to an "outperform" rating and set a $92.00 price target for the company in a research note on Tuesday, March 11th. Stifel Nicolaus boosted their price objective on Lumentum from $95.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Needham & Company LLC lowered their price objective on Lumentum from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Northland Securities set a $80.00 target price on shares of Lumentum in a research 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $82.20.

Lumentum Stock Down 1.2 %

LITE traded down $0.79 during midday trading on Friday, reaching $64.87. 2,324,278 shares of the company were exchanged, compared to its average volume of 1,934,147. Lumentum Holdings Inc. has a one year low of $38.29 and a one year high of $104.00. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76. The company's fifty day moving average price is $60.21 and its 200 day moving average price is $74.61. 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 quarterly earnings data 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 firm had revenue of $425.20 million for the quarter, compared to the consensus estimate of $418.18 million. Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. The business's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 EPS. As a group, analysts expect that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Insider Transactions at Lumentum

In other news, CFO Wajid Ali sold 2,172 shares of Lumentum stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total transaction of $170,154.48. Following the sale, the chief financial officer now directly owns 51,976 shares in the company, valued at $4,071,799.84. The trade was a 4.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.19% of the company's stock.

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.