Cambridge Investment Research Advisors Inc. Makes New Investment in Lumentum Holdings Inc. (NASDAQ:LITE)

Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,178 shares of the technology company's stock, valued at approximately $260,000.

Several other institutional investors have also bought and sold shares of LITE. Capital World Investors lifted its position in Lumentum by 108.3% during the fourth quarter. Capital World Investors now owns 3,600,132 shares of the technology company's stock valued at $302,231,000 after purchasing an additional 1,871,572 shares during the last quarter. Alliancebernstein L.P. lifted its position in Lumentum by 1.4% during the fourth quarter. Alliancebernstein L.P. now owns 1,711,956 shares of the technology company's stock valued at $143,719,000 after purchasing an additional 23,136 shares during the last quarter. Nuveen Asset Management LLC lifted its position in Lumentum by 98.9% during the fourth quarter. Nuveen Asset Management LLC now owns 1,228,371 shares of the technology company's stock valued at $103,122,000 after purchasing an additional 610,938 shares during the last quarter. Geode Capital Management LLC boosted its stake in Lumentum by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 1,195,605 shares of the technology company's stock worth $100,402,000 after buying an additional 9,442 shares during the period. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in Lumentum by 8.1% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 838,289 shares of the technology company's stock worth $70,374,000 after buying an additional 62,937 shares during the period. Institutional investors own 94.05% of the company's stock.

Wall Street Analyst Weigh In

LITE has been the subject of several recent analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $105.00 price objective on shares of Lumentum in a research note on Thursday, June 12th. JPMorgan Chase & Co. lifted their price objective on shares of Lumentum from $100.00 to $123.00 and gave the stock an "overweight" rating in a research note on Thursday. Wolfe Research initiated coverage on shares of Lumentum in a research note on Tuesday, July 8th. They set an "outperform" rating for the company. Needham & Company LLC lifted their price objective on shares of Lumentum from $100.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Finally, Morgan Stanley lifted their price objective on shares of Lumentum from $76.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $87.07.

Lumentum Stock Up 3.0%

Shares of LITE stock traded up $3.01 on Thursday, hitting $102.64. The stock had a trading volume of 2,921,849 shares, compared to its average volume of 2,166,393. The company has a quick ratio of 3.53, a current ratio of 4.72 and a debt-to-equity ratio of 2.91. The business has a 50 day moving average price of $84.67 and a 200 day moving average price of $75.77. The company has a market cap of $7.12 billion, a PE ratio of -15.91 and a beta of 1.34. Lumentum Holdings Inc. has a one year low of $38.29 and a one year high of $104.00.

Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.07. The firm had revenue of $425.20 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share. Research analysts anticipate that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Transactions at Lumentum

In other Lumentum news, SVP Jae Kim sold 4,577 shares of the business'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 completion of the transaction, the senior vice president directly owned 31,534 shares in the company, valued at approximately $2,459,021.32. The trade was a 12.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Wajid Ali sold 2,222 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $83.58, for a total transaction of $185,714.76. Following the completion of the transaction, the chief financial officer owned 47,460 shares of the company's stock, valued at $3,966,706.80. This represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,520 shares of company stock valued at $5,742,078. Insiders own 0.19% of the company's stock.

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.