Lumentum Holdings Inc. (NASDAQ:LITE) Shares Bought by Robeco Schweiz AG

Robeco Schweiz AG lifted its position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 26.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 526,816 shares of the technology company's stock after purchasing an additional 109,816 shares during the period. Robeco Schweiz AG owned 0.76% of Lumentum worth $32,842,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of LITE. Crestline Management LP purchased a new stake in Lumentum during the fourth quarter worth $4,435,000. UMB Bank n.a. raised its holdings in Lumentum by 132.9% in the first quarter. UMB Bank n.a. now owns 785 shares of the technology company's stock worth $49,000 after purchasing an additional 448 shares in the last quarter. Asset Management One Co. Ltd. bought a new position in Lumentum in the first quarter worth about $69,000. GAMMA Investing LLC raised its holdings in Lumentum by 72.1% in the first quarter. GAMMA Investing LLC now owns 2,051 shares of the technology company's stock worth $128,000 after purchasing an additional 859 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Lumentum by 43.7% in the first quarter. Robeco Institutional Asset Management B.V. now owns 11,059 shares of the technology company's stock worth $689,000 after purchasing an additional 3,362 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on LITE. Northland Securities set a $80.00 price objective on Lumentum in a report on Wednesday, May 7th. UBS Group decreased their price objective on Lumentum from $96.00 to $78.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Needham & Company LLC increased their price objective on Lumentum from $100.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. B. Riley increased their price objective on Lumentum from $65.00 to $73.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $105.00 price objective on shares of Lumentum in a report on Thursday, June 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $85.53.

Lumentum Price Performance

NASDAQ LITE traded up $0.37 during mid-day trading on Friday, hitting $92.99. The stock had a trading volume of 1,403,087 shares, compared to its average volume of 2,146,445. Lumentum Holdings Inc. has a twelve month low of $38.29 and a twelve month high of $104.00. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of -14.42 and a beta of 1.34. The firm's 50 day moving average is $82.01 and its 200 day moving average is $75.40. The company has a debt-to-equity ratio of 2.91, a current ratio of 4.72 and a quick ratio of 3.53.

Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.57 earnings per share (EPS) 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 firm had revenue of $425.20 million during the quarter, compared to analysts' expectations of $418.18 million. During the same period last year, the business earned $0.09 earnings per share. Lumentum's revenue was up 16.0% compared to the same quarter last year. Equities research analysts forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Alan S. Lowe sold 20,000 shares of the stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $93.47, for a total transaction of $1,869,400.00. Following the completion of the transaction, the director directly owned 230,471 shares in the company, valued at approximately $21,542,124.37. This represents a 7.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $362,518.92. Following the transaction, the insider owned 82,957 shares of the company's stock, valued at approximately $6,376,904.59. This represents a 5.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,520 shares of company stock valued at $5,742,078. 0.19% of the stock is owned by company insiders.

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.