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

Lightrock Netherlands B.V. lifted its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 135.4% in the 1st quarter, according to its most recent Form 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 makes up approximately 5.8% of Lightrock Netherlands B.V.'s holdings, making the stock its largest position. Lightrock Netherlands B.V. owned approximately 0.51% of Lumentum worth $22,071,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in LITE. Crestline Management LP purchased a new position in Lumentum during the fourth quarter worth about $4,435,000. UMB Bank n.a. raised its holdings in Lumentum by 132.9% during the first quarter. UMB Bank n.a. now owns 785 shares of the technology company's stock worth $49,000 after purchasing an additional 448 shares in the last quarter. Asset Management One Co. Ltd. purchased a new position in Lumentum during the first quarter worth about $69,000. M&T Bank Corp raised its holdings in Lumentum by 54.2% during the fourth quarter. M&T Bank Corp now owns 18,104 shares of the technology company's stock worth $1,520,000 after purchasing an additional 6,361 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Lumentum by 27,721.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,717 shares of the technology company's stock worth $2,834,000 after purchasing an additional 31,603 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Lumentum Stock Up 1.4%

NASDAQ LITE opened at $92.50 on Friday. 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 company's 50 day simple moving average is $78.91 and its 200 day simple moving average is $75.13. Lumentum Holdings Inc. has a 12 month low of $38.29 and a 12 month high of $104.00. The company has a market capitalization of $6.42 billion, a P/E ratio of -14.34 and a beta of 1.34.

Lumentum (NASDAQ:LITE - Get Free Report) last released 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. Lumentum had a negative net margin of 29.87% and a negative return on equity of 8.69%. The business had revenue of $425.20 million for the quarter, compared to the consensus estimate of $418.18 million. During the same period in the previous year, the firm earned $0.09 EPS. The business's revenue for the quarter was up 16.0% on a year-over-year basis. Equities research analysts expect that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LITE has been the subject of a number of research analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $105.00 target price on shares of Lumentum in a report on Thursday, June 12th. Raymond James Financial increased their target price on shares of Lumentum from $80.00 to $90.00 and gave the company a "strong-buy" rating in a report on Wednesday, June 4th. Northland Capmk raised shares of Lumentum from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. 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 research note on Tuesday, March 11th. Finally, Barclays set a $75.00 price objective on shares of Lumentum and gave the stock an "overweight" rating 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 given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $84.93.

Insider Activity

In other Lumentum news, SVP Jae Kim sold 4,577 shares of the company's stock in a transaction that occurred on 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 owned 31,534 shares in the company, valued at approximately $2,459,021.32. This represents a 12.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan S. Lowe sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $93.47, for a total transaction of $1,869,400.00. Following the completion of the sale, the director directly owned 230,471 shares of the company's stock, valued at $21,542,124.37. This represents a 7.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,520 shares of company stock worth $5,742,078 over the last three months. 0.19% of the stock is owned by insiders.

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.

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