Barrow Hanley Mewhinney & Strauss LLC Has $92.51 Million Position in Lumentum Holdings Inc. (NASDAQ:LITE)

Barrow Hanley Mewhinney & Strauss LLC reduced its stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,101,936 shares of the technology company's stock after selling 48,056 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned about 1.60% of Lumentum worth $92,508,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in LITE. UMB Bank n.a. raised its holdings in Lumentum by 301.2% during the 4th quarter. UMB Bank n.a. now owns 337 shares of the technology company's stock worth $28,000 after purchasing an additional 253 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Lumentum by 54.2% during the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company's stock worth $31,000 after acquiring an additional 130 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in Lumentum by 2,235.3% during the 4th quarter. CoreCap Advisors LLC now owns 397 shares of the technology company's stock worth $33,000 after acquiring an additional 380 shares during the last quarter. J.Safra Asset Management Corp boosted its holdings in shares of Lumentum by 31.1% in 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 during the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Lumentum by 27.2% in 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 currently owned by institutional investors and hedge funds.

Lumentum Stock Performance

NASDAQ LITE opened at $75.88 on Friday. The business's 50 day moving average price is $62.63 and its 200-day moving average price is $75.32. The company has a market cap of $5.27 billion, a P/E ratio of -9.87 and a beta of 1.18. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76. Lumentum Holdings Inc. has a fifty-two week low of $38.29 and a fifty-two week high of $104.00.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its earnings results on Tuesday, May 6th. The technology company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.07. The business had revenue of $425.20 million during the quarter, compared to analysts' expectations 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 revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.09 EPS. Sell-side analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LITE. Rosenblatt Securities upped their price objective on shares of Lumentum from $85.00 to $94.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Needham & Company LLC decreased their price objective on Lumentum from $110.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. JPMorgan Chase & Co. reduced their price target on Lumentum from $105.00 to $73.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. UBS Group reduced their price target on Lumentum from $96.00 to $78.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Finally, Raymond James reduced their price objective on Lumentum from $82.00 to $80.00 and set a "strong-buy" rating for the company in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.20.

Insider Activity at Lumentum

In related news, insider Yuen Wupen sold 4,426 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $71.80, for a total transaction of $317,786.80. Following the transaction, the insider now directly owns 92,099 shares of the company's stock, valued at $6,612,708.20. This represents a 4.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Jae Kim sold 4,577 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $77.98, for a total value of $356,914.46. Following the transaction, the senior vice president now directly owns 31,534 shares in the company, valued at $2,459,021.32. This represents a 12.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,298 shares of company stock valued at $1,081,764 in the last ninety days. Corporate 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.

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