Lumentum Holdings Inc. (NASDAQ:LITE) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lessened its holdings in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 14.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,032,479 shares of the technology company's stock after selling 179,481 shares during the period. Dimensional Fund Advisors LP owned about 1.50% of Lumentum worth $86,678,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. UMB Bank n.a. boosted its holdings 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 stake 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 acquiring an additional 130 shares in the last quarter. J.Safra Asset Management Corp grew its holdings in Lumentum by 31.1% in the fourth 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 last quarter. Quadrant Capital Group LLC increased its position in shares of Lumentum by 27.2% during the fourth quarter. Quadrant Capital Group LLC now owns 766 shares of the technology company's stock worth $64,000 after purchasing an additional 164 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Lumentum during the 4th quarter valued at $67,000. 94.05% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Wajid Ali sold 2,172 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total transaction of $170,154.48. Following the completion of the sale, the chief financial officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Raymond James raised Lumentum from an "outperform" rating to a "strong-buy" rating and reduced their target price for the company from $96.00 to $82.00 in a research report on Monday, March 24th. Northland Capmk raised shares of Lumentum from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Barclays dropped their target price on shares of Lumentum from $125.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. B. Riley raised their price target on shares of Lumentum from $62.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Finally, Needham & Company LLC reissued a "buy" rating and set a $110.00 price objective on shares of Lumentum in a report on Friday, February 7th. Two investment analysts have 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.com, Lumentum presently has a consensus rating of "Moderate Buy" and an average target price of $82.60.

Lumentum Stock Performance

Shares of NASDAQ LITE traded up $1.34 during midday trading on Friday, reaching $62.86. 2,509,436 shares of the stock were exchanged, compared to its average volume of 1,914,870. 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 50-day simple moving average of $60.59 and a two-hundred day simple moving average of $74.74. Lumentum Holdings Inc. has a twelve month low of $38.29 and a twelve month high of $104.00. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of -8.17 and a beta of 1.18.

Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of $0.27 by ($0.41). Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. As a group, analysts anticipate that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal 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.