Lumentum Holdings Inc. (NASDAQ:LITE) Shares Bought by Tairen Capital Ltd

Tairen Capital Ltd raised its stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 1,510.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 191,646 shares of the technology company's stock after acquiring an additional 179,746 shares during the quarter. Lumentum makes up 2.4% of Tairen Capital Ltd's portfolio, making the stock its 11th biggest holding. Tairen Capital Ltd owned approximately 0.28% of Lumentum worth $16,089,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Capital World Investors increased its stake in Lumentum by 108.3% in 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. grew 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 acquiring an additional 23,136 shares during the period. Nuveen Asset Management LLC grew 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 acquiring an additional 610,938 shares during the period. Geode Capital Management LLC grew its position 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 valued at $100,402,000 after acquiring an additional 9,442 shares during the period. Finally, Fuller & Thaler Asset Management Inc. grew its position 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 valued at $70,374,000 after acquiring an additional 62,937 shares during the period. 94.05% of the stock is owned by institutional investors and hedge funds.

Lumentum Trading Up 0.2%

NASDAQ:LITE opened at $77.95 on Friday. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76. Lumentum Holdings Inc. has a one year low of $38.29 and a one year high of $104.00. The business's 50-day simple moving average is $61.62 and its 200 day simple moving average is $75.06. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of -10.14 and a beta of 1.18.

Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.50 by $0.07. Lumentum had a negative return on equity of 7.25% and a negative net margin of 36.98%. The business had revenue of $425.20 million for the quarter, compared to analysts' expectations of $418.18 million. During the same quarter in the previous year, the firm posted $0.09 earnings per share. The company's revenue was up 16.0% compared to the same quarter last year. As a group, sell-side analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on LITE shares. BNP Paribas raised Lumentum from a "neutral" rating to an "outperform" rating and set a $92.00 price target for the company in a research report on Tuesday, March 11th. Jefferies Financial Group started coverage on Lumentum in a research report on Friday, February 21st. They set a "buy" rating for the company. Raymond James lowered their price target on Lumentum from $82.00 to $80.00 and set a "strong-buy" rating for the company in a research report on Wednesday, May 7th. JPMorgan Chase & Co. decreased their target price on Lumentum from $105.00 to $73.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, Morgan Stanley decreased their target price on Lumentum from $83.00 to $81.00 and set an "equal weight" rating for the company in a research report on Friday, January 31st. One investment 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $82.20.

Insider Buying and Selling at Lumentum

In other Lumentum news, insider Yuen Wupen sold 4,426 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $71.80, for a total transaction of $317,786.80. Following the sale, the insider now owns 92,099 shares in the company, valued at $6,612,708.20. This represents a 4.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Wajid Ali sold 2,172 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total value of $170,154.48. Following the sale, the chief financial officer now owns 51,976 shares in the company, valued at $4,071,799.84. The trade was a 4.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,314 shares of company stock worth $850,460 over the last quarter. 0.19% of the stock is owned by corporate insiders.

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.

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