Lumentum Holdings Inc. (NASDAQ:LITE) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. increased its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 1,372.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,209 shares of the technology company's stock after buying an additional 2,991 shares during the period. Blue Trust Inc.'s holdings in Lumentum were worth $200,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp increased its holdings in 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 acquiring an additional 122 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of 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 purchasing an additional 130 shares during the period. Quadrant Capital Group LLC increased its stake 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. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Lumentum by 1.4% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,173 shares of the technology company's stock worth $1,274,000 after purchasing an additional 206 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in Lumentum by 1.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 16,165 shares of the technology company's stock valued at $1,357,000 after buying an additional 213 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Insiders Place Their Bets

In other news, insider Yuen Wupen sold 4,426 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $71.80, for a total value of $317,786.80. Following the transaction, the insider now directly owns 92,099 shares in the company, valued at approximately $6,612,708.20. This represents a 4.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Wajid Ali sold 2,222 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $83.58, for a total transaction of $185,714.76. Following the transaction, the chief financial officer now directly owns 47,460 shares of the company's stock, valued at $3,966,706.80. The trade was a 4.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,520 shares of company stock valued at $3,872,678 over the last 90 days. 0.19% of the stock is owned by company insiders.

Lumentum Trading Up 0.0%

Shares of NASDAQ LITE traded up $0.04 during midday trading on Friday, reaching $94.75. 2,729,189 shares of the stock were exchanged, compared to its average volume of 2,103,484. The stock has a market capitalization of $6.58 billion, a P/E ratio of -14.69 and a beta of 1.28. The company has a debt-to-equity ratio of 2.91, a quick ratio of 3.53 and a current ratio of 4.72. The company has a 50 day simple moving average of $74.31 and a 200 day simple moving average of $75.01. Lumentum Holdings Inc. has a twelve month low of $38.29 and a twelve month high of $104.00.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its earnings results on Tuesday, May 6th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.07. The company 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 8.69% and a negative net margin of 29.87%. The firm's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 earnings per share. As a group, equities analysts expect that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on LITE. JPMorgan Chase & Co. boosted their price objective on Lumentum from $87.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, June 12th. Morgan Stanley increased their price objective on Lumentum from $70.00 to $76.00 and gave the company an "equal weight" rating in a research note on Wednesday, June 4th. Needham & Company LLC raised their price objective on Lumentum from $100.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Barclays set a $75.00 target price on shares of Lumentum and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Finally, UBS Group reduced their target price on shares of Lumentum from $96.00 to $78.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $84.93.

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.