Symmetry Investments LP grew its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 744.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,235 shares of the technology company's stock after purchasing an additional 84,835 shares during the period. Symmetry Investments LP owned approximately 0.14% of Lumentum worth $8,079,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. UMB Bank n.a. boosted its holdings in shares of Lumentum by 301.2% in 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 during the period. Jones Financial Companies Lllp boosted its stake in 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 buying an additional 130 shares during the period. J.Safra Asset Management Corp increased its position in Lumentum by 31.1% during the fourth quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company's stock valued at $43,000 after acquiring an additional 122 shares during the last quarter. Quadrant Capital Group LLC raised its stake 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 acquiring an additional 164 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Lumentum during the 4th quarter worth about $67,000. 94.05% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Lumentum news, CFO Wajid Ali sold 2,172 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total value of $170,154.48. Following the sale, the chief financial officer now directly owns 51,976 shares of the company's stock, valued at approximately $4,071,799.84. This trade represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several brokerages have issued reports on LITE. B. Riley raised their price objective on shares of Lumentum from $62.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Jefferies Financial Group initiated coverage on Lumentum in a research note on Friday, February 21st. They set a "buy" rating for the company. Rosenblatt Securities cut their price objective 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 set a $110.00 target price on shares of Lumentum in a research note on Friday, February 7th. Finally, Raymond James upgraded Lumentum from an "outperform" rating to a "strong-buy" rating and reduced their price objective for the stock from $96.00 to $82.00 in a report on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Lumentum presently has an average rating of "Moderate Buy" and an average target price of $82.60.
Read Our Latest Analysis on Lumentum
Lumentum Stock Performance
Lumentum stock traded down $0.80 during trading hours on Monday, hitting $59.21. 804,989 shares of the stock traded hands, compared to its average volume of 1,896,373. Lumentum Holdings Inc. has a 1 year low of $38.29 and a 1 year high of $104.00. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of -7.69 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 firm's 50 day moving average price is $61.91 and its 200-day moving average price is $75.04.
Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. As a group, equities analysts expect that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.
About Lumentum
(
Free Report)
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.
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