Divisar Capital Management LLC Reduces Position in Lumentum Holdings Inc. (NASDAQ:LITE)

Divisar Capital Management LLC reduced its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 38.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 457,765 shares of the technology company's stock after selling 282,824 shares during the period. Lumentum comprises approximately 8.3% of Divisar Capital Management LLC's portfolio, making the stock its 2nd biggest position. Divisar Capital Management LLC owned about 0.67% of Lumentum worth $38,429,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Schonfeld Strategic Advisors LLC boosted its stake in shares of Lumentum by 15.7% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 345,410 shares of the technology company's stock worth $28,997,000 after buying an additional 46,929 shares during the last quarter. Northern Trust Corp boosted its position in Lumentum by 18.5% in the fourth quarter. Northern Trust Corp now owns 700,893 shares of the technology company's stock worth $58,840,000 after purchasing an additional 109,430 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Lumentum by 1.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 53,238 shares of the technology company's stock valued at $4,469,000 after purchasing an additional 763 shares during the period. Aquatic Capital Management LLC grew its stake in Lumentum by 213.7% in the 4th quarter. Aquatic Capital Management LLC now owns 114,456 shares of the technology company's stock valued at $9,609,000 after purchasing an additional 77,975 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Lumentum during the 4th quarter valued at $1,135,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

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 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.19% of the stock is owned by insiders.

Lumentum Stock Down 1.5 %

LITE opened at $59.04 on Thursday. The firm has a market capitalization of $4.09 billion, a P/E ratio of -7.68 and a beta of 1.14. Lumentum Holdings Inc. has a one year low of $38.29 and a one year high of $104.00. The company has a fifty day moving average price of $60.96 and a 200-day moving average price of $74.77. The company has a debt-to-equity ratio of 2.94, a current ratio of 4.76 and a quick ratio of 3.60.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its earnings results on Thursday, February 13th. The technology company reported ($0.14) 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%. Equities research analysts expect that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LITE. Jefferies Financial Group started coverage on shares of Lumentum in a report on Friday, February 21st. They issued a "buy" rating on the stock. Raymond James upgraded shares of Lumentum from an "outperform" rating to a "strong-buy" rating and decreased their price target for the stock from $96.00 to $82.00 in a research note on Monday, March 24th. UBS Group raised their target price on Lumentum from $93.00 to $96.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Rosenblatt Securities dropped their price target on Lumentum from $110.00 to $85.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Morgan Stanley cut their price target on Lumentum from $83.00 to $81.00 and set an "equal weight" rating for the company in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $82.60.

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.

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