Marshall Wace LLP Acquires Shares of 292,806 Lumentum Holdings Inc. (NASDAQ:LITE)

Marshall Wace LLP purchased a new stake 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 purchased 292,806 shares of the technology company's stock, valued at approximately $24,581,000. Marshall Wace LLP owned approximately 0.43% of Lumentum as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. J.Safra Asset Management Corp grew its stake in Lumentum by 31.1% in the fourth quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company's stock valued at $43,000 after purchasing an additional 122 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Lumentum by 54.2% in the 4th 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 in the last quarter. Quadrant Capital Group LLC increased its holdings in Lumentum by 27.2% in the fourth 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. Crossmark Global Holdings Inc. raised 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 valued at $365,000 after acquiring an additional 168 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its stake in Lumentum by 22.6% in the fourth quarter. Manchester Capital Management LLC now owns 1,029 shares of the technology company's stock valued at $86,000 after acquiring an additional 190 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Lumentum Price Performance

NASDAQ LITE traded up $1.83 during trading on Friday, reaching $60.60. 606,973 shares of the company traded hands, compared to its average volume of 1,888,509. The company has a market cap of $4.19 billion, a price-to-earnings ratio of -7.88 and a beta of 1.14. The stock's 50 day moving average price is $62.32 and its two-hundred day moving average price is $74.99. Lumentum Holdings Inc. has a 1-year low of $38.29 and a 1-year high of $104.00. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative return on equity of 7.25% and a negative net margin of 36.98%. As a group, analysts anticipate that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Insider Activity at Lumentum

In other Lumentum news, CFO Wajid Ali sold 2,172 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 51,976 shares in the company, valued at approximately $4,071,799.84. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LITE. Stifel Nicolaus raised their price target on shares of Lumentum from $95.00 to $105.00 and gave the company a "buy" rating in a report on Friday, February 7th. Needham & Company LLC reaffirmed a "buy" rating and issued a $110.00 price target on shares of Lumentum in a research report on Friday, February 7th. Rosenblatt Securities reduced their target price on Lumentum from $110.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday. JPMorgan Chase & Co. reduced their price objective on shares of Lumentum from $105.00 to $73.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, Raymond James upgraded shares of Lumentum from an "outperform" rating to a "strong-buy" rating and lowered their target price for the company from $96.00 to $82.00 in a research note on Monday, March 24th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price 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.