Toronto Dominion Bank Buys New Shares in Lumentum Holdings Inc. (NASDAQ:LITE)

Toronto Dominion Bank bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,500 shares of the technology company's stock, valued at approximately $965,000.

Several other hedge funds also recently made changes to their positions in the company. UMB Bank n.a. grew its position in Lumentum by 301.2% during the fourth quarter. UMB Bank n.a. now owns 337 shares of the technology company's stock worth $28,000 after buying an additional 253 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Lumentum by 54.2% during the fourth quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company's stock worth $31,000 after purchasing an additional 130 shares during the last quarter. CoreCap Advisors LLC grew its holdings in Lumentum by 2,235.3% in the 4th quarter. CoreCap Advisors LLC now owns 397 shares of the technology company's stock valued at $33,000 after buying an additional 380 shares during the period. J.Safra Asset Management Corp raised its stake in Lumentum by 31.1% during the fourth quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company's stock worth $43,000 after purchasing an additional 122 shares during the period. Finally, Quadrant Capital Group LLC boosted its holdings in Lumentum by 27.2% in the fourth quarter. Quadrant Capital Group LLC now owns 766 shares of the technology company's stock valued at $64,000 after acquiring an additional 164 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on LITE. Rosenblatt Securities boosted their price target on Lumentum from $85.00 to $94.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Raymond James reduced their price target on shares of Lumentum from $82.00 to $80.00 and set a "strong-buy" rating for the company in a report on Wednesday, May 7th. Jefferies Financial Group began coverage on Lumentum in a report on Friday, February 21st. They issued a "buy" rating for the company. B. Riley upped their target price on Lumentum from $62.00 to $75.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Finally, Northland Securities set a $80.00 target price on Lumentum in a report on Wednesday, May 7th. 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 given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $82.20.

Insider Buying and Selling at Lumentum

In other Lumentum news, insider Yuen Wupen sold 4,716 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 82,957 shares in the company, valued at $6,376,904.59. This trade represents a 5.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jae Kim sold 4,577 shares of the 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 completion of the transaction, the senior vice president now directly owns 31,534 shares in the company, valued at $2,459,021.32. The trade was 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 14,298 shares of company stock valued at $1,081,764. Company insiders own 0.19% of the company's stock.

Lumentum Trading Up 3.4%

Shares of LITE traded up $2.60 on Tuesday, reaching $78.37. 1,438,320 shares of the company's stock were exchanged, compared to its average volume of 1,989,038. The business has a 50 day moving average price of $63.00 and a two-hundred day moving average price of $75.37. The stock has a market capitalization of $5.44 billion, a P/E ratio of -10.19 and a beta of 1.18. Lumentum Holdings Inc. has a 12 month low of $38.29 and a 12 month high of $104.00. The company has a current ratio of 4.76, a quick ratio of 3.60 and a debt-to-equity ratio of 2.94.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its earnings results 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 return on equity of 7.25% and a negative net margin of 36.98%. The company had revenue of $425.20 million during the quarter, compared to analyst estimates of $418.18 million. During the same period in the previous year, the company earned $0.09 EPS. The company's revenue for the quarter was up 16.0% compared to the same quarter last year. Research analysts anticipate 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.