Gilder Gagnon Howe & Co. LLC Invests $1.14 Million in Lumentum Holdings Inc. (NASDAQ:LITE)

Gilder Gagnon Howe & Co. LLC bought a new position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 13,518 shares of the technology company's stock, valued at approximately $1,135,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. boosted its holdings in shares of Lumentum by 301.2% in 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 stake in Lumentum by 54.2% in 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 during the period. J.Safra Asset Management Corp grew 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. Quadrant Capital Group LLC raised its stake in Lumentum by 27.2% during the 4th quarter. Quadrant Capital Group LLC now owns 766 shares of the technology company's stock valued at $64,000 after purchasing an additional 164 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Lumentum in the fourth quarter valued at $67,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Rosenblatt Securities dropped their price target on Lumentum from $110.00 to $85.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Needham & Company LLC reissued a "buy" rating and issued a $110.00 price target on shares of Lumentum in a research report on Friday, February 7th. BNP Paribas raised shares of Lumentum from a "neutral" rating to an "outperform" rating and set a $92.00 price objective on the stock in a research report on Tuesday, March 11th. Raymond James upgraded shares of Lumentum from an "outperform" rating to a "strong-buy" rating and cut their target price for the stock from $96.00 to $82.00 in a research report on Monday, March 24th. Finally, UBS Group lifted their target price on shares of Lumentum from $93.00 to $96.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Two equities research analysts have 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 company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $82.60.

Lumentum Stock Performance

LITE traded up $2.42 on Friday, hitting $63.94. The company had a trading volume of 1,267,178 shares, compared to its average volume of 1,905,342. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of -8.32 and a beta of 1.14. The company has a debt-to-equity ratio of 2.94, a current ratio of 4.76 and a quick ratio of 3.60. The company's fifty day moving average price is $60.74 and its 200 day moving average price is $74.72. Lumentum Holdings Inc. has a 1-year low of $38.29 and a 1-year high of $104.00.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of $0.27 by ($0.41). Lumentum had a negative return on equity of 7.25% and a negative net margin of 36.98%. Equities analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Wajid Ali sold 2,172 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total transaction of $170,154.48. Following the completion of the transaction, the chief financial officer now directly owns 51,976 shares in the company, valued at $4,071,799.84. This represents a 4.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by insiders.

Lumentum 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.