Emerald Mutual Fund Advisers Trust Decreases Stake in Lumentum Holdings Inc. (NASDAQ:LITE)

Emerald Mutual Fund Advisers Trust lessened its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 14.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 241,362 shares of the technology company's stock after selling 39,969 shares during the quarter. Lumentum comprises about 1.2% of Emerald Mutual Fund Advisers Trust's holdings, making the stock its 22nd biggest holding. Emerald Mutual Fund Advisers Trust owned 0.35% of Lumentum worth $20,262,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of LITE. Northern Trust Corp grew its position in Lumentum by 18.5% during the 4th 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 increased its position 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 acquiring an additional 763 shares during the period. Aquatic Capital Management LLC raised its stake in Lumentum by 213.7% during the 4th quarter. Aquatic Capital Management LLC now owns 114,456 shares of the technology company's stock valued at $9,609,000 after acquiring an additional 77,975 shares during the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new stake in Lumentum during the 4th quarter worth approximately $1,135,000. Finally, Nebula Research & Development LLC purchased a new position in shares of Lumentum in the 4th quarter valued at approximately $288,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LITE. BNP Paribas raised Lumentum from a "neutral" rating to an "outperform" rating and set a $92.00 price target for the company in a report on Tuesday, March 11th. B. Riley raised their target price on shares of Lumentum from $62.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Jefferies Financial Group assumed coverage on shares of Lumentum in a research note on Friday, February 21st. They set a "buy" rating on the stock. Stifel Nicolaus lifted their price objective on Lumentum from $95.00 to $105.00 and gave the company a "buy" rating in a report on Friday, February 7th. Finally, UBS Group increased their target price on Lumentum from $93.00 to $96.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Lumentum presently has an average rating of "Moderate Buy" and a consensus price target of $82.60.

Insider Buying and Selling at Lumentum

In other news, CFO Wajid Ali sold 2,172 shares of the 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 transaction, the chief financial officer now directly owns 51,976 shares in the company, valued at $4,071,799.84. This represents a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is owned by insiders.

Lumentum Price Performance

NASDAQ:LITE traded up $2.48 during mid-day trading on Thursday, hitting $61.52. 2,559,918 shares of the company's stock traded hands, compared to its average volume of 1,907,655. Lumentum Holdings Inc. has a 1 year low of $38.29 and a 1 year high of $104.00. The company has a market cap of $4.26 billion, a PE ratio of -8.00 and a beta of 1.14. 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 firm's 50 day simple moving average is $60.74 and its 200 day simple moving average is $74.72.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share (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%. Sell-side analysts expect that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

About Lumentum

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.