Leeward Investments LLC MA Purchases 100,093 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Leeward Investments LLC MA lifted its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 28.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 449,890 shares of the technology company's stock after acquiring an additional 100,093 shares during the quarter. Lumentum accounts for approximately 1.5% of Leeward Investments LLC MA's investment portfolio, making the stock its 8th biggest holding. Leeward Investments LLC MA owned approximately 0.65% of Lumentum worth $28,046,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of LITE. Rakuten Securities Inc. lifted its holdings in Lumentum by 164.4% in the 1st quarter. Rakuten Securities Inc. now owns 476 shares of the technology company's stock valued at $30,000 after purchasing an additional 296 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Lumentum by 54.2% in the 4th 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 in the last quarter. Golden State Wealth Management LLC lifted its holdings in Lumentum by 103.2% in the 1st quarter. Golden State Wealth Management LLC now owns 512 shares of the technology company's stock valued at $32,000 after purchasing an additional 260 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in Lumentum by 2,235.3% in the 4th quarter. CoreCap Advisors LLC now owns 397 shares of the technology company's stock valued at $33,000 after purchasing an additional 380 shares in the last quarter. Finally, J.Safra Asset Management Corp lifted 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 valued at $43,000 after purchasing an additional 122 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Lumentum

In other Lumentum news, CFO Wajid Ali sold 2,222 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $83.58, for a total value 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 trade represents a 4.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Yuen Wupen sold 4,716 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $76.87, for a total value of $362,518.92. Following the sale, the insider directly owned 82,957 shares in the company, valued at $6,376,904.59. This represents a 5.38% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,520 shares of company stock valued at $5,742,078. 0.19% of the stock is owned by insiders.

Analyst Ratings Changes

LITE has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Lumentum from $87.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, June 12th. Needham & Company LLC raised their target price on Lumentum from $100.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Northland Capmk upgraded Lumentum from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Barclays set a $75.00 price objective on shares of Lumentum and gave the company an "overweight" rating in a report on Wednesday, May 7th. Finally, Northland Securities set a $80.00 target price on shares of Lumentum in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $84.93.

Lumentum Trading Up 1.4%

Shares of NASDAQ:LITE traded up $1.26 during midday trading on Friday, reaching $92.50. 1,019,464 shares of the company's stock were exchanged, compared to its average volume of 2,130,595. The firm's 50 day simple moving average is $78.26 and its two-hundred day simple moving average is $75.10. The company has a debt-to-equity ratio of 2.91, a current ratio of 4.72 and a quick ratio of 3.53. The stock has a market cap of $6.42 billion, a price-to-earnings ratio of -14.34 and a beta of 1.34. 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 quarterly earnings data on Tuesday, May 6th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company's quarterly revenue was up 16.0% on a year-over-year basis. During the same period last year, the company earned $0.09 EPS. As a group, sell-side analysts forecast that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Lumentum 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.