Toronto Dominion Bank Invests $965,000 in Lumentum Holdings Inc. (NASDAQ:LITE)

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

A number of other hedge funds also recently made changes to their positions in LITE. UMB Bank n.a. increased its position in Lumentum by 301.2% during the 4th quarter. UMB Bank n.a. now owns 337 shares of the technology company's stock worth $28,000 after purchasing an additional 253 shares in the last quarter. Jones Financial Companies Lllp increased its position in Lumentum by 54.2% during the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company's stock worth $31,000 after purchasing an additional 130 shares in the last quarter. CoreCap Advisors LLC increased its position in Lumentum by 2,235.3% during the 4th quarter. CoreCap Advisors LLC now owns 397 shares of the technology company's stock worth $33,000 after purchasing an additional 380 shares in the last quarter. J.Safra Asset Management Corp increased its position in Lumentum by 31.1% during the 4th 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 in the last quarter. Finally, Quadrant Capital Group LLC increased its position in Lumentum by 27.2% during the 4th quarter. Quadrant Capital Group LLC now owns 766 shares of the technology company's stock worth $64,000 after purchasing an additional 164 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Lumentum Trading Down 0.6%

Shares of NASDAQ:LITE traded down $0.46 during trading on Wednesday, reaching $77.91. The stock had a trading volume of 912,864 shares, compared to its average volume of 1,985,113. Lumentum Holdings Inc. has a 52 week low of $38.29 and a 52 week high of $104.00. The firm's fifty day moving average is $63.19 and its 200 day moving average is $75.39. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of -10.14 and a beta of 1.18. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76.

Lumentum (NASDAQ:LITE - Get Free Report) last released its earnings results on Tuesday, May 6th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.07. The business had revenue of $425.20 million for the quarter, compared to analyst estimates of $418.18 million. Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. Lumentum's revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 earnings per share. As a group, equities analysts forecast that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on LITE shares. Rosenblatt Securities upped their price objective on shares of Lumentum from $85.00 to $94.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Morgan Stanley lowered their price objective on shares of Lumentum from $83.00 to $81.00 and set an "equal weight" rating for the company in a research report on Friday, January 31st. Northland Capmk upgraded shares of Lumentum from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. BNP Paribas upgraded shares of Lumentum from a "neutral" rating to an "outperform" rating and set a $92.00 target price on the stock in a research report on Tuesday, March 11th. Finally, UBS Group cut their target price on shares of Lumentum from $96.00 to $78.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. One research 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's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $82.20.

Insider Activity at Lumentum

In other news, insider Yuen Wupen sold 4,426 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $71.80, for a total transaction of $317,786.80. Following the completion of the sale, the insider now directly owns 92,099 shares of the company's stock, valued at $6,612,708.20. The trade was a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jae Kim sold 4,577 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $77.98, for a total transaction of $356,914.46. Following the sale, the senior vice president now directly owns 31,534 shares of the company's stock, valued at approximately $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. Insiders have sold a total of 14,298 shares of company stock worth $1,081,764 over the last quarter. Company insiders own 0.19% of the company's stock.

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.