Capital World Investors Buys 1,871,572 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Capital World Investors grew its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 108.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,600,132 shares of the technology company's stock after purchasing an additional 1,871,572 shares during the period. Capital World Investors owned about 5.24% of Lumentum worth $302,231,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. lifted 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 acquiring an additional 253 shares during the last quarter. Jones Financial Companies Lllp boosted 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 buying an additional 130 shares during the period. J.Safra Asset Management Corp increased its holdings in shares of Lumentum by 31.1% in the fourth 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 during the period. Quadrant Capital Group LLC boosted its holdings 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 acquiring an additional 164 shares during the period. Finally, Daiwa Securities Group Inc. bought a new position in Lumentum during the 4th quarter worth approximately $67,000. 94.05% of the stock is currently owned by institutional investors.

Lumentum Price Performance

Shares of LITE stock traded up $1.23 during trading hours on Friday, hitting $60.00. The stock had a trading volume of 1,466,852 shares, compared to its average volume of 1,895,600. 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 stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of -7.80 and a beta of 1.14. Lumentum Holdings Inc. has a one year low of $38.29 and a one year high of $104.00. The stock's 50-day moving average price is $61.91 and its two-hundred day moving average price is $74.94.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) 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%. Equities analysts forecast that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Lumentum in a research note on Friday, February 21st. They issued a "buy" rating on the stock. BNP Paribas raised Lumentum from a "neutral" rating to an "outperform" rating and set a $92.00 price target for the company in a research report on Tuesday, March 11th. 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. Stifel Nicolaus upped their price target on Lumentum from $95.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Finally, Raymond James raised shares of Lumentum from an "outperform" rating to a "strong-buy" rating and decreased their target price for the company from $96.00 to $82.00 in a research note on Monday, March 24th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $82.60.

Insider Buying and Selling

In other Lumentum news, CFO Wajid Ali sold 2,172 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total value of $170,154.48. Following the completion of the sale, the chief financial officer now owns 51,976 shares of the company's stock, valued at $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 available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

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.