11,500 Shares in Lumentum Holdings Inc. (NASDAQ:LITE) Bought by Toronto Dominion Bank

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

Other institutional investors have also recently modified their holdings of the company. Capital World Investors raised its stake in shares of Lumentum by 108.3% in the fourth quarter. Capital World Investors now owns 3,600,132 shares of the technology company's stock worth $302,231,000 after buying an additional 1,871,572 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Lumentum by 1.4% in the 4th quarter. Alliancebernstein L.P. now owns 1,711,956 shares of the technology company's stock worth $143,719,000 after purchasing an additional 23,136 shares during the period. Nuveen Asset Management LLC boosted its holdings in Lumentum by 98.9% during the 4th quarter. Nuveen Asset Management LLC now owns 1,228,371 shares of the technology company's stock valued at $103,122,000 after acquiring an additional 610,938 shares during the period. Geode Capital Management LLC raised its position in Lumentum by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 1,195,605 shares of the technology company's stock valued at $100,402,000 after purchasing an additional 9,442 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its position in Lumentum by 8.1% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 838,289 shares of the technology company's stock valued at $70,374,000 after purchasing an additional 62,937 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LITE has been the subject of several recent research reports. Needham & Company LLC reduced their price target on Lumentum from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Raymond James lowered their target price on Lumentum from $82.00 to $80.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, May 7th. Rosenblatt Securities increased their target price on Lumentum from $85.00 to $94.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Northland Capmk raised Lumentum from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Finally, Stifel Nicolaus raised their price target on Lumentum from $95.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Lumentum presently has a consensus rating of "Moderate Buy" and an average price target of $82.20.

Lumentum Trading Down 1.0%

Shares of LITE traded down $0.77 during midday trading on Thursday, hitting $77.13. The stock had a trading volume of 480,265 shares, compared to its average volume of 1,985,189. Lumentum Holdings Inc. has a fifty-two week low of $38.29 and a fifty-two week high of $104.00. The business has a 50-day simple moving average of $63.41 and a two-hundred day simple moving average of $75.40. The firm has a market cap of $5.35 billion, a P/E ratio of -10.01 and a beta of 1.18. 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 issued its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.07. Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. The firm had revenue of $425.20 million for the quarter, compared to analyst estimates of $418.18 million. During the same quarter last year, the firm earned $0.09 earnings per share. The company's revenue for the quarter was up 16.0% on a year-over-year basis. As a group, equities analysts forecast that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Insiders Place Their Bets

In related news, insider Yuen Wupen sold 4,716 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $76.87, for a total transaction of $362,518.92. Following the transaction, the insider now owns 82,957 shares in the company, valued at $6,376,904.59. This represents a 5.38% decrease in their position. The sale was disclosed in a 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 dated Friday, May 16th. The shares were sold at an average price of $77.98, for a total value of $356,914.46. Following the completion of the sale, the senior vice president now directly owns 31,534 shares of the company's stock, valued at approximately $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. Insiders have sold 14,298 shares of company stock worth $1,081,764 over the last 90 days. Corporate insiders own 0.19% of the company's stock.

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.