Ethic Inc. Buys Shares of 5,251 Lumentum Holdings Inc. (NASDAQ:LITE)

Ethic Inc. bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,251 shares of the technology company's stock, valued at approximately $441,000.

A number of other institutional investors also recently modified their holdings of LITE. J.Safra Asset Management Corp lifted 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 buying an additional 122 shares during the period. Jones Financial Companies Lllp increased its position in shares of Lumentum by 54.2% during 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. Quadrant Capital Group LLC boosted its holdings in Lumentum by 27.2% in 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 during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in Lumentum by 4.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 4,350 shares of the technology company's stock worth $365,000 after purchasing an additional 168 shares during the last quarter. Finally, Manchester Capital Management LLC boosted its holdings in Lumentum by 22.6% in the fourth quarter. Manchester Capital Management LLC now owns 1,029 shares of the technology company's stock worth $86,000 after purchasing an additional 190 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Yuen Wupen sold 4,716 shares of Lumentum stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $76.87, for a total value of $362,518.92. Following the completion of the transaction, the insider now owns 82,957 shares in the company, valued at approximately $6,376,904.59. This trade represents a 5.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Wajid Ali sold 2,172 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total value of $170,154.48. Following the transaction, the chief financial officer now owns 51,976 shares of the company's stock, valued at $4,071,799.84. This trade represents a 4.01% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,314 shares of company stock worth $850,460. Corporate insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Raymond James dropped their price target on shares of Lumentum from $82.00 to $80.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, May 7th. Morgan Stanley dropped their price target on shares of Lumentum from $83.00 to $81.00 and set an "equal weight" rating on the stock in a research note on Friday, January 31st. BNP Paribas upgraded shares of Lumentum from a "neutral" rating to an "outperform" rating and set a $92.00 price target on the stock in a research note on Tuesday, March 11th. Northland Securities set a $80.00 price target on shares of Lumentum in a research note on Wednesday, May 7th. Finally, Jefferies Financial Group initiated coverage on shares of Lumentum in a research note on Friday, February 21st. They set a "buy" rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $82.20.

Lumentum Price Performance

Shares of Lumentum stock traded down $0.08 during trading on Monday, reaching $77.87. 1,177,856 shares of the stock traded hands, compared to its average volume of 1,981,768. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of -10.13 and a beta of 1.18. The business has a fifty day simple moving average of $61.62 and a two-hundred day simple moving average of $75.13. 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 Holdings Inc. has a 52-week low of $38.29 and a 52-week high of $104.00.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.07. The firm had revenue of $425.20 million during the quarter, compared to analyst estimates of $418.18 million. Lumentum had a negative return on equity of 7.25% and a negative net margin of 36.98%. The business's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 earnings per share. 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.