Aquatic Capital Management LLC Raises Position in Lumentum Holdings Inc. (NASDAQ:LITE)

Aquatic Capital Management LLC grew its holdings in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 213.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 114,456 shares of the technology company's stock after buying an additional 77,975 shares during the period. Aquatic Capital Management LLC owned 0.17% of Lumentum worth $9,609,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Gilder Gagnon Howe & Co. LLC purchased a new position in Lumentum during the fourth quarter worth about $1,135,000. Nebula Research & Development LLC purchased a new position in Lumentum during the fourth quarter worth about $288,000. Penn Capital Management Company LLC purchased a new position in Lumentum during the fourth quarter worth about $14,573,000. Hood River Capital Management LLC purchased a new position in Lumentum during the fourth quarter worth about $32,810,000. Finally, Symmetry Investments LP raised its holdings in Lumentum by 744.2% during the fourth quarter. Symmetry Investments LP now owns 96,235 shares of the technology company's stock worth $8,079,000 after purchasing an additional 84,835 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lumentum

In other Lumentum news, CFO Wajid Ali sold 2,172 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total transaction of $170,154.48. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.19% of the company's stock.

Lumentum Price Performance

Shares of NASDAQ LITE traded up $3.65 during trading on Thursday, reaching $62.69. The company had a trading volume of 1,356,297 shares, compared to its average volume of 1,899,320. Lumentum Holdings Inc. has a twelve month low of $38.29 and a twelve month high of $104.00. The stock has a market capitalization of $4.34 billion, a PE ratio of -8.13 and a beta of 1.14. The stock has a 50-day moving average price of $60.96 and a two-hundred day moving average price of $74.77. 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 released its earnings results 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, sell-side analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on LITE. Raymond James upgraded shares of Lumentum from an "outperform" rating to a "strong-buy" rating and lowered their target price for the stock from $96.00 to $82.00 in a research report on Monday, March 24th. Jefferies Financial Group began coverage on shares of Lumentum in a research report on Friday, February 21st. They set a "buy" rating on the stock. Northland Securities upgraded shares of Lumentum from a "market perform" rating to an "outperform" 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, Barclays lowered their target price on shares of Lumentum from $125.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $82.60.

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.