40,800 Shares in Lumentum Holdings Inc. (NASDAQ:LITE) Purchased by LMR Partners LLP

LMR Partners LLP bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 40,800 shares of the technology company's stock, valued at approximately $3,425,000. LMR Partners LLP owned about 0.06% of Lumentum at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. J.Safra Asset Management Corp grew its holdings in Lumentum by 31.1% in the 4th quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company's stock valued at $43,000 after buying an additional 122 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Lumentum by 54.2% during the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company's stock valued at $31,000 after acquiring an additional 130 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of 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 purchasing an additional 164 shares during the period. Crossmark Global Holdings Inc. increased its position in Lumentum by 4.0% during the fourth quarter. Crossmark Global Holdings Inc. now owns 4,350 shares of the technology company's stock worth $365,000 after purchasing an additional 168 shares during the last quarter. Finally, Manchester Capital Management LLC raised its stake in Lumentum by 22.6% during the fourth quarter. Manchester Capital Management LLC now owns 1,029 shares of the technology company's stock worth $86,000 after purchasing an additional 190 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Wajid Ali sold 2,172 shares of the business'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 owns 51,976 shares of the company's stock, valued at approximately $4,071,799.84. The trade was a 4.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Yuen Wupen sold 4,426 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $71.80, for a total value of $317,786.80. Following the transaction, the insider now owns 92,099 shares of the company's stock, valued at approximately $6,612,708.20. This represents a 4.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,314 shares of company stock worth $850,460. 0.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

LITE has been the subject of several recent analyst reports. BNP Paribas raised Lumentum from a "neutral" rating to an "outperform" rating and set a $92.00 target price for the company in a research note on Tuesday, March 11th. B. Riley boosted their price objective on shares of Lumentum from $62.00 to $75.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Barclays set a $75.00 target price on shares of Lumentum and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Needham & Company LLC dropped their price target on shares of Lumentum from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Finally, Jefferies Financial Group initiated coverage on shares of Lumentum in a report on Friday, February 21st. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Lumentum currently has an average rating of "Moderate Buy" and a consensus price target of $82.20.

Lumentum Trading Up 0.2%

Shares of LITE stock traded up $0.19 during trading hours on Friday, hitting $77.95. 2,345,849 shares of the company were exchanged, compared to its average volume of 1,976,595. The firm has a fifty day moving average of $61.30 and a 200 day moving average of $74.90. The company has a quick ratio of 3.60, a current ratio of 4.76 and a debt-to-equity ratio of 2.94. Lumentum Holdings Inc. has a 1 year low of $38.29 and a 1 year high of $104.00. The firm has a market cap of $5.41 billion, a PE ratio of -10.14 and a beta of 1.18.

Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings data 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 net margin of 36.98% and a negative return on equity of 7.25%. The company had revenue of $425.20 million during the quarter, compared to analyst estimates of $418.18 million. During the same quarter in the prior year, the business earned $0.09 earnings per share. The business's quarterly revenue was up 16.0% compared to the same quarter last year. Analysts expect 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.