Lumentum Holdings Inc. (NASDAQ:LITE) Position Lessened by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group Inc. reduced its holdings in Lumentum Holdings Inc. by 92.5% in Q1, selling 263,617 shares and retaining a total of 21,324 shares valued at approximately $1.33 million.
• A number of institutional investors made changes to their Lumentum positions, with Natixis Advisors LLC acquiring a $2.4 million stake, while TCW Group Inc. boosted their stake by 24.6%.
• Analysts have mixed ratings for Lumentum, with eleven buy ratings, three hold ratings, and a consensus target price of $88.20, while its stock recently traded at $108.15.

Jefferies Financial Group Inc. cut its holdings in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 92.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 21,324 shares of the technology company's stock after selling 263,617 shares during the period. Jefferies Financial Group Inc.'s holdings in Lumentum were worth $1,329,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Capital World Investors boosted its holdings in shares of Lumentum by 108.3% during the fourth quarter. Capital World Investors now owns 3,600,132 shares of the technology company's stock valued at $302,231,000 after acquiring an additional 1,871,572 shares during the period. Nuveen Asset Management LLC lifted its position in Lumentum by 98.9% in the 4th quarter. Nuveen Asset Management LLC now owns 1,228,371 shares of the technology company's stock valued at $103,122,000 after purchasing an additional 610,938 shares during the last quarter. Geode Capital Management LLC boosted its stake in Lumentum by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 1,195,605 shares of the technology company's stock valued at $100,402,000 after purchasing an additional 9,442 shares during the period. Fuller & Thaler Asset Management Inc. grew its position in Lumentum by 8.1% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 838,289 shares of the technology company's stock worth $70,374,000 after purchasing an additional 62,937 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Lumentum by 18.5% in the fourth quarter. Northern Trust Corp now owns 700,893 shares of the technology company's stock valued at $58,840,000 after purchasing an additional 109,430 shares during the period. Institutional investors own 94.05% of the company's stock.

Insider Activity at Lumentum

In other news, SVP Jae Kim sold 4,577 shares of Lumentum stock in a transaction on Friday, May 16th. The stock was sold at an average price of $77.98, for a total transaction 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. The trade was a 12.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Alan S. Lowe sold 20,000 shares of the company's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $93.47, for a total value of $1,869,400.00. Following the transaction, the director directly owned 230,471 shares in the company, valued at $21,542,124.37. The trade was a 7.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,768 shares of company stock worth $8,294,633. Insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LITE. Wolfe Research began coverage on Lumentum in a report on Tuesday, July 8th. They issued an "outperform" rating for the company. Rosenblatt Securities restated a "buy" rating and set a $105.00 price objective on shares of Lumentum in a research note on Thursday, June 12th. Stifel Nicolaus increased their target price on shares of Lumentum from $85.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. Barclays set a $75.00 price target on shares of Lumentum and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Finally, B. Riley increased their price objective on shares of Lumentum from $65.00 to $73.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Lumentum has an average rating of "Moderate Buy" and a consensus target price of $88.20.

Lumentum Trading Up 1.7%

Shares of NASDAQ:LITE traded up $1.86 during midday trading on Wednesday, reaching $110.01. The company had a trading volume of 2,282,421 shares, compared to its average volume of 2,494,117. The company has a fifty day simple moving average of $92.59 and a two-hundred day simple moving average of $77.42. The company has a debt-to-equity ratio of 2.91, a quick ratio of 3.53 and a current ratio of 4.72. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of -17.06 and a beta of 1.33. Lumentum Holdings Inc. has a 1-year low of $40.26 and a 1-year high of $114.12.

Lumentum (NASDAQ:LITE - Get Free Report) last released its earnings results on Tuesday, May 6th. The technology company reported $0.57 earnings per share for the quarter, topping the consensus estimate 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 last year, the firm posted $0.09 earnings per share. The firm's quarterly revenue was up 16.0% compared to the same quarter last year. Research analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share 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.