Lumentum Holdings Inc. (NASDAQ:LITE) Shares Bought by First Trust Advisors LP

First Trust Advisors LP increased its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 529.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 86,981 shares of the technology company's stock after acquiring an additional 73,155 shares during the quarter. First Trust Advisors LP owned about 0.13% of Lumentum worth $7,302,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of LITE. UMB Bank n.a. lifted its position 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 in the last quarter. Jones Financial Companies Lllp lifted its position in Lumentum by 54.2% during the fourth quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company's stock valued at $31,000 after purchasing an additional 130 shares during the last quarter. J.Safra Asset Management Corp grew its stake in shares of Lumentum by 31.1% in the 4th quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company's stock worth $43,000 after buying an additional 122 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Lumentum by 27.2% in the 4th quarter. Quadrant Capital Group LLC now owns 766 shares of the technology company's stock worth $64,000 after buying an additional 164 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in shares of Lumentum in the 4th quarter valued at about $67,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lumentum

In related news, CFO Wajid Ali sold 2,172 shares of Lumentum stock in a transaction dated 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 in the company, valued at approximately $4,071,799.84. The trade was a 4.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Lumentum Stock Performance

Shares of LITE traded up $1.34 during mid-day trading on Friday, reaching $62.86. The company had a trading volume of 2,509,436 shares, compared to its average volume of 1,914,450. The stock has a market capitalization of $4.35 billion, a P/E ratio of -8.17 and a beta of 1.14. Lumentum Holdings Inc. has a 52-week low of $38.29 and a 52-week high of $104.00. The stock has a 50 day moving average of $60.59 and a two-hundred day moving average of $74.69. 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 (NASDAQ:LITE - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) 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%. On average, analysts expect that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LITE shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $110.00 price objective on shares of Lumentum in a research note on Friday, February 7th. Rosenblatt Securities reduced their price target on Lumentum from $110.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Barclays dropped their price objective on Lumentum from $125.00 to $70.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Northland Securities upgraded shares of Lumentum from a "market perform" rating to an "outperform" rating in a report on Monday, April 7th. Finally, Northland Capmk upgraded shares of Lumentum from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $82.60.

About Lumentum

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.