Natixis Advisors LLC Takes $2.40 Million Position in Lumentum Holdings Inc. (NASDAQ:LITE)

Key Points

• Natixis Advisors LLC acquired a stake of approximately $2.40 million in Lumentum Holdings Inc. during the first quarter, purchasing 38,473 shares, which represents 0.06% ownership of the company.
• Insider transactions revealed that Director Alan S. Lowe sold 20,000 shares for about $1.87 million, reducing his holdings by 7.98%, while CFO Wajid Ali sold 2,222 shares, decreasing his position by 4.47%.
• Lumentum reported earnings per share of $0.57 for the last quarter, beating expectations, with a year-over-year revenue increase of 16%, amounting to $425.20 million.

Natixis Advisors LLC bought a new position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 38,473 shares of the technology company's stock, valued at approximately $2,398,000. Natixis Advisors LLC owned about 0.06% of Lumentum as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. purchased a new position in Lumentum in the first quarter worth about $260,000. Crestline Management LP purchased a new position in shares of Lumentum during the 4th quarter valued at about $4,435,000. UMB Bank n.a. lifted its position in shares of Lumentum by 132.9% during the 1st quarter. UMB Bank n.a. now owns 785 shares of the technology company's stock valued at $49,000 after buying an additional 448 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Lumentum by 1.1% during the 1st quarter. Principal Financial Group Inc. now owns 159,154 shares of the technology company's stock valued at $9,922,000 after buying an additional 1,660 shares in the last quarter. Finally, Asset Management One Co. Ltd. purchased a new position in shares of Lumentum during the 1st quarter valued at about $69,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. B. Riley lifted their price objective on Lumentum from $65.00 to $73.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Susquehanna lifted their price objective on Lumentum from $95.00 to $125.00 and gave the company a "positive" rating in a research report on Tuesday, July 22nd. Northland Securities set a $80.00 price objective on Lumentum in a research report on Wednesday, May 7th. Needham & Company LLC boosted their price target on Lumentum from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Finally, Raymond James Financial boosted their price target on Lumentum from $80.00 to $90.00 and gave the stock a "strong-buy" rating in a report on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.20.

Lumentum Price Performance

Shares of LITE traded down $0.93 during mid-day trading on Monday, hitting $115.34. 2,490,347 shares of the stock were exchanged, compared to its average volume of 2,487,250. The company has a market cap of $8.00 billion, a PE ratio of -17.88 and a beta of 1.33. Lumentum Holdings Inc. has a 52-week low of $43.28 and a 52-week high of $119.41. The firm has a 50-day moving average of $94.82 and a two-hundred day moving average of $77.59. The company has a debt-to-equity ratio of 2.91, a quick ratio of 3.53 and a current ratio of 4.72.

Insider Buying and Selling at Lumentum

In other news, CFO Wajid Ali sold 2,222 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $83.58, for a total transaction of $185,714.76. Following the sale, the chief financial officer directly owned 47,460 shares of the company's stock, valued at $3,966,706.80. This represents a 4.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jae Kim sold 4,577 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $77.98, for a total value of $356,914.46. Following the sale, the senior vice president directly owned 31,534 shares in the company, valued at $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 ninety days, insiders sold 90,009 shares of company stock worth $8,320,743. Company insiders own 0.19% of the company's stock.

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.