Lumentum Holdings Inc. (NASDAQ:LITE) Stock Holdings Lessened by Janus Henderson Group PLC

Janus Henderson Group PLC trimmed its holdings in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 99.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,393 shares of the technology company's stock after selling 7,497,869 shares during the period. Janus Henderson Group PLC's holdings in Lumentum were worth $2,637,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. increased its stake in shares of Lumentum by 301.2% in the fourth quarter. UMB Bank n.a. now owns 337 shares of the technology company's stock worth $28,000 after buying an additional 253 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Lumentum by 54.2% during the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company's stock worth $31,000 after acquiring an additional 130 shares in the last quarter. CoreCap Advisors LLC grew its holdings in Lumentum by 2,235.3% during the 4th quarter. CoreCap Advisors LLC now owns 397 shares of the technology company's stock worth $33,000 after acquiring an additional 380 shares in the last quarter. J.Safra Asset Management Corp increased its position in shares of Lumentum by 31.1% in the 4th quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company's stock worth $43,000 after purchasing an additional 122 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Lumentum by 27.2% in the 4th quarter. Quadrant Capital Group LLC now owns 766 shares of the technology company's stock valued at $64,000 after purchasing an additional 164 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, insider Yuen Wupen sold 4,716 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $76.87, for a total transaction of $362,518.92. Following the completion of the transaction, the insider now directly owns 82,957 shares of the company's stock, valued at approximately $6,376,904.59. This trade represents a 5.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jae Kim sold 4,577 shares of Lumentum 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 transaction, the senior vice president now owns 31,534 shares in the company, valued at approximately $2,459,021.32. This trade represents a 12.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,298 shares of company stock valued at $1,081,764. 0.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Raymond James decreased their price target on Lumentum from $82.00 to $80.00 and set a "strong-buy" rating for the company in a research note on Wednesday, May 7th. Morgan Stanley reduced their target price on Lumentum from $83.00 to $81.00 and set an "equal weight" rating on the stock in a report on Friday, January 31st. B. Riley boosted their price target on Lumentum from $62.00 to $75.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Needham & Company LLC reduced their price objective on Lumentum from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Finally, UBS Group decreased their price objective 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Lumentum has a consensus rating of "Moderate Buy" and a consensus price target of $82.20.

Lumentum Stock Performance

NASDAQ:LITE traded down $0.11 during mid-day trading on Monday, hitting $75.77. The stock had a trading volume of 1,133,207 shares, compared to its average volume of 1,991,249. Lumentum Holdings Inc. has a 52 week low of $38.29 and a 52 week high of $104.00. The company has a current ratio of 4.76, a quick ratio of 3.60 and a debt-to-equity ratio of 2.94. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of -9.85 and a beta of 1.18. The company has a 50 day simple moving average of $63.00 and a 200-day simple moving average of $75.37.

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 business had revenue of $425.20 million during the quarter, compared to analyst estimates of $418.18 million. Lumentum had a negative return on equity of 7.25% and a negative net margin of 36.98%. The business's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 EPS. On average, research analysts expect that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal 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.