Lumentum Holdings Inc. (NASDAQ:LITE) Holdings Boosted by Lightrock Netherlands B.V.

Lightrock Netherlands B.V. increased its position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 135.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 353,456 shares of the technology company's stock after buying an additional 203,300 shares during the period. Lumentum comprises approximately 5.8% of Lightrock Netherlands B.V.'s holdings, making the stock its largest position. Lightrock Netherlands B.V. owned 0.51% of Lumentum worth $22,071,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of LITE. Rakuten Securities Inc. boosted its holdings in shares of Lumentum by 164.4% during 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 during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Lumentum by 54.2% during 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 during the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Lumentum by 103.2% during 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 during the last quarter. CoreCap Advisors LLC boosted its holdings in shares of Lumentum by 2,235.3% during 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 during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Lumentum by 132.9% during the 1st quarter. UMB Bank n.a. now owns 785 shares of the technology company's stock valued at $49,000 after purchasing an additional 448 shares during the last quarter. Institutional investors own 94.05% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on LITE. Stifel Nicolaus increased their price objective on shares of Lumentum from $85.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, June 5th. BNP Paribas raised shares of Lumentum from a "neutral" rating to an "outperform" rating and set a $92.00 price objective for the company in a report on Tuesday, March 11th. UBS Group lowered their price target on shares of Lumentum from $96.00 to $78.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Northland Capmk raised shares of Lumentum from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Finally, Needham & Company LLC increased their price target on shares of Lumentum from $100.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Lumentum presently has a consensus rating of "Moderate Buy" and an average target price of $85.53.

Lumentum Trading Up 0.3%

Lumentum stock traded up $0.23 during midday trading on Tuesday, reaching $91.31. The stock had a trading volume of 1,714,747 shares, compared to its average volume of 2,135,089. The company has a quick ratio of 3.53, a current ratio of 4.72 and a debt-to-equity ratio of 2.91. Lumentum Holdings Inc. has a 52-week low of $38.29 and a 52-week high of $104.00. The firm has a market cap of $6.34 billion, a price-to-earnings ratio of -14.16 and a beta of 1.34. The company has a fifty day moving average of $80.16 and a 200 day moving average of $75.17.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its earnings results on Tuesday, May 6th. The technology company reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.07. The business had revenue of $425.20 million for the quarter, compared to analyst estimates of $418.18 million. Lumentum had a negative net margin of 29.87% and a negative return on equity of 8.69%. The company's quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the company posted $0.09 earnings per share. On average, analysts anticipate that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Activity at Lumentum

In other 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 transaction of $185,714.76. Following the transaction, the chief financial officer directly owned 47,460 shares of the company's stock, valued at approximately $3,966,706.80. This trade represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jae Kim sold 4,577 shares of Lumentum stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $77.98, for a total transaction of $356,914.46. Following 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 disclosure for this sale can be found here. In the last three months, insiders sold 66,520 shares of company stock valued at $5,742,078. 0.19% of the stock is owned by insiders.

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.