Robeco Institutional Asset Management B.V. Raises Stock Holdings in Lumentum Holdings Inc. (NASDAQ:LITE)

Robeco Institutional Asset Management B.V. boosted its holdings in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 43.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,059 shares of the technology company's stock after acquiring an additional 3,362 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Lumentum were worth $689,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of LITE. Capital World Investors lifted its holdings in shares of Lumentum by 108.3% during the 4th quarter. Capital World Investors now owns 3,600,132 shares of the technology company's stock worth $302,231,000 after acquiring an additional 1,871,572 shares during the last quarter. Alliancebernstein L.P. raised 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 purchasing an additional 23,136 shares in the last quarter. Nuveen Asset Management LLC lifted its stake 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 worth $103,122,000 after purchasing an additional 610,938 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Lumentum by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,195,605 shares of the technology company's stock worth $100,402,000 after purchasing an additional 9,442 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

Lumentum Trading Up 1.4%

Shares of NASDAQ:LITE traded up $1.26 during midday trading on Friday, hitting $92.50. 1,019,464 shares of the stock traded hands, compared to its average volume of 2,130,595. The company has a quick ratio of 3.53, a current ratio of 4.72 and a debt-to-equity ratio of 2.91. The business's 50 day moving average is $78.26 and its two-hundred day moving average is $75.10. The stock has a market capitalization of $6.42 billion, a PE ratio of -14.34 and a beta of 1.34. Lumentum Holdings Inc. has a one year low of $38.29 and a one year high of $104.00.

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, beating 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 8.69% and a negative net margin of 29.87%. Lumentum's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.09 EPS. As a group, research analysts forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Alan S. Lowe sold 20,000 shares of Lumentum stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $93.47, for a total transaction of $1,869,400.00. Following the sale, the director owned 230,471 shares of the company's stock, valued at approximately $21,542,124.37. The trade was a 7.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jae Kim sold 4,577 shares of the business's stock in a transaction dated Friday, May 16th. The shares were 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 $2,459,021.32. This represents a 12.67% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,520 shares of company stock worth $5,742,078. Insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

LITE has been the topic of a number of research reports. Northland Securities set a $80.00 price objective on Lumentum in a report on Wednesday, May 7th. UBS Group decreased their price target on shares of Lumentum from $96.00 to $78.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Northland Capmk raised shares of Lumentum from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Rosenblatt Securities reaffirmed a "buy" rating and set a $105.00 target price on shares of Lumentum in a report on Thursday, June 12th. Finally, Needham & Company LLC boosted their price target on shares of Lumentum from $100.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $84.93.

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.