Two Sigma Advisers LP Acquires 57,000 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Two Sigma Advisers LP lifted its holdings in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 30.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 243,600 shares of the technology company's stock after acquiring an additional 57,000 shares during the period. Two Sigma Advisers LP owned approximately 0.35% of Lumentum worth $20,450,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of LITE. Assenagon Asset Management S.A. bought a new position in shares of Lumentum in the fourth quarter valued at approximately $2,723,000. UMB Bank n.a. lifted its position in shares of Lumentum by 301.2% during the 4th quarter. UMB Bank n.a. now owns 337 shares of the technology company's stock valued at $28,000 after buying an additional 253 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in Lumentum by 4.0% during the fourth quarter. Crossmark Global Holdings Inc. now owns 4,350 shares of the technology company's stock valued at $365,000 after purchasing an additional 168 shares during the last quarter. Zweig DiMenna Associates LLC bought a new position in Lumentum in the 4th quarter worth approximately $7,052,000. Finally, First Citizens Bank & Trust Co. boosted its holdings in shares of Lumentum by 13.6% in the fourth quarter. First Citizens Bank & Trust Co. now owns 4,647 shares of the technology company's stock worth $390,000 after acquiring an additional 558 shares during the period. 94.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lumentum

In other Lumentum news, SVP Jae Kim sold 4,577 shares of the company's stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 31,534 shares in the company, valued at approximately $2,459,021.32. This represents a 12.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Yuen Wupen sold 4,716 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $76.87, for a total transaction of $362,518.92. Following the transaction, the insider now owns 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. Insiders sold 14,298 shares of company stock valued at $1,081,764 in the last 90 days. Insiders own 0.19% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on LITE. Rosenblatt Securities raised their price target on Lumentum from $85.00 to $94.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. BNP Paribas raised shares of Lumentum from a "neutral" rating to an "outperform" rating and set a $92.00 price target for the company in a research note on Tuesday, March 11th. JPMorgan Chase & Co. lowered their price objective on shares of Lumentum from $105.00 to $73.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Jefferies Financial Group began coverage on Lumentum in a research note on Friday, February 21st. They issued a "buy" rating on the stock. Finally, Raymond James decreased their price target on shares of Lumentum from $82.00 to $80.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.20.

Lumentum Trading Down 0.1%

NASDAQ:LITE traded down $0.11 during midday trading on Monday, reaching $75.77. 1,133,207 shares of the stock traded hands, compared to its average volume of 1,991,249. The stock has a market capitalization of $5.26 billion, a P/E ratio of -9.85 and a beta of 1.18. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76. The company has a fifty day moving average of $62.83 and a 200 day moving average of $75.42. Lumentum Holdings Inc. has a 12 month low of $38.29 and a 12 month 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 EPS 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 net margin of 36.98% and a negative return on equity of 7.25%. The company's quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 earnings per share. On average, research analysts predict that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

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.