Robeco Schweiz AG Boosts Stake in Lumentum Holdings Inc. (NASDAQ:LITE)

Robeco Schweiz AG lifted its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 26.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 526,816 shares of the technology company's stock after buying an additional 109,816 shares during the period. Robeco Schweiz AG owned approximately 0.76% of Lumentum worth $32,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. State of Michigan Retirement System lifted its holdings in shares of Lumentum by 1.8% in the 1st quarter. State of Michigan Retirement System now owns 16,528 shares of the technology company's stock worth $1,030,000 after acquiring an additional 300 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Lumentum by 27.0% in the first quarter. Envestnet Asset Management Inc. now owns 12,837 shares of the technology company's stock valued at $800,000 after purchasing an additional 2,729 shares during the period. Lightrock Netherlands B.V. lifted its stake in Lumentum by 135.4% during the first quarter. Lightrock Netherlands B.V. now owns 353,456 shares of the technology company's stock worth $22,071,000 after purchasing an additional 203,300 shares in the last quarter. Leeward Investments LLC MA boosted its position in shares of Lumentum by 28.6% during the first quarter. Leeward Investments LLC MA now owns 449,890 shares of the technology company's stock worth $28,046,000 after buying an additional 100,093 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Lumentum by 1.1% in the first 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. Hedge funds and other institutional investors own 94.05% of the company's stock.

Insider Buying and Selling at Lumentum

In other Lumentum news, Director Alan S. Lowe sold 20,000 shares of the company's stock in a transaction that occurred 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 sale, the director directly owned 230,471 shares of the company's stock, valued at $21,542,124.37. This represents a 7.98% decrease in their position. The transaction 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 owned 31,534 shares of the company's stock, valued at $2,459,021.32. This trade represents a 12.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,520 shares of company stock worth $5,742,078 over the last three months. 0.19% of the stock is currently owned by corporate insiders.

Lumentum Stock Performance

Shares of LITE stock traded down $0.75 during mid-day trading on Monday, hitting $92.24. 1,840,729 shares of the stock were exchanged, compared to its average volume of 2,533,072. The stock's fifty day simple moving average is $82.01 and its two-hundred day simple moving average is $75.26. The company has a debt-to-equity ratio of 2.91, a quick ratio of 3.53 and a current ratio of 4.72. Lumentum Holdings Inc. has a 12-month low of $38.28 and a 12-month high of $104.00. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of -14.30 and a beta of 1.34.

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, topping the consensus estimate of $0.50 by $0.07. The company had revenue of $425.20 million for 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%. The firm's revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. On average, analysts forecast that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LITE shares. Morgan Stanley raised their target price on Lumentum from $76.00 to $85.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Rosenblatt Securities reissued a "buy" rating and issued a $105.00 price objective on shares of Lumentum in a research note on Thursday, June 12th. Wolfe Research assumed coverage on shares of Lumentum in a research note on Tuesday, July 8th. They set an "outperform" rating on the stock. Needham & Company LLC raised their price target on shares of Lumentum from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Finally, B. Riley upped their target price on shares of Lumentum from $65.00 to $73.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $85.53.

About Lumentum

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.