70,282 Shares in Lumentum Holdings Inc. (NASDAQ:LITE) Acquired by Phocas Financial Corp.

Phocas Financial Corp. purchased a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 70,282 shares of the technology company's stock, valued at approximately $3,684,000. Phocas Financial Corp. owned about 0.10% of Lumentum as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HighTower Advisors LLC increased its stake in Lumentum by 6.7% in the first quarter. HighTower Advisors LLC now owns 5,729 shares of the technology company's stock valued at $557,000 after purchasing an additional 358 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Lumentum by 23.3% during the first quarter. Private Advisor Group LLC now owns 5,083 shares of the technology company's stock worth $496,000 after acquiring an additional 960 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Lumentum by 10.4% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,461 shares of the technology company's stock worth $2,583,000 after acquiring an additional 2,490 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of Lumentum by 7.4% during the first quarter. Great West Life Assurance Co. Can now owns 39,147 shares of the technology company's stock worth $3,926,000 after acquiring an additional 2,686 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Lumentum by 7.2% during the first quarter. Dimensional Fund Advisors LP now owns 805,662 shares of the technology company's stock worth $78,633,000 after acquiring an additional 53,978 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Insider Activity

In other news, CAO Matthew Joseph Sepe sold 9,903 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $49.23, for a total value of $487,524.69. Following the transaction, the chief accounting officer now directly owns 33,188 shares of the company's stock, valued at $1,633,845.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on LITE shares. Stifel Nicolaus reissued a "buy" rating and set a $62.00 price objective on shares of Lumentum in a research report on Monday, April 1st. B. Riley reduced their target price on shares of Lumentum from $42.00 to $41.00 and set a "neutral" rating for the company in a report on Friday, February 9th. Barclays increased their target price on shares of Lumentum from $40.00 to $45.00 and gave the stock an "underweight" rating in a report on Tuesday, January 16th. Raymond James increased their target price on shares of Lumentum from $51.50 to $58.00 and gave the stock an "outperform" rating in a report on Monday, April 1st. Finally, Needham & Company LLC restated a "buy" rating and set a $50.00 target price on shares of Lumentum in a report on Friday, February 9th. Three analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Lumentum has a consensus rating of "Hold" and a consensus target price of $51.79.

Lumentum Stock Performance

Shares of LITE traded down $1.64 during trading hours on Monday, hitting $41.81. The company had a trading volume of 950,934 shares, compared to its average volume of 1,453,953. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of -10.83 and a beta of 1.09. The business has a fifty day moving average of $48.72 and a 200-day moving average of $47.16. Lumentum Holdings Inc. has a 12 month low of $35.35 and a 12 month high of $65.16. The company has a quick ratio of 2.42, a current ratio of 3.13 and a debt-to-equity ratio of 1.96.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its quarterly earnings data on Thursday, February 8th. The technology company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.07). The company had revenue of $366.80 million during the quarter, compared to the consensus estimate of $363.44 million. Lumentum had a negative net margin of 18.52% and a positive return on equity of 1.04%. Equities analysts anticipate that Lumentum Holdings Inc. will post -0.61 EPS for the current fiscal year.

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.