Leeward Investments LLC MA Purchases 79,814 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Leeward Investments LLC MA grew its holdings in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 28.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 360,129 shares of the technology company's stock after purchasing an additional 79,814 shares during the quarter. Leeward Investments LLC MA owned 0.54% of Lumentum worth $18,878,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Arizona State Retirement System lifted its stake in Lumentum by 1.7% in the third quarter. Arizona State Retirement System now owns 19,561 shares of the technology company's stock worth $884,000 after acquiring an additional 321 shares during the last quarter. Mcdonald Partners LLC lifted its stake in Lumentum by 1.8% in the third quarter. Mcdonald Partners LLC now owns 20,022 shares of the technology company's stock worth $905,000 after acquiring an additional 350 shares during the last quarter. Kestra Advisory Services LLC lifted its stake in Lumentum by 8.7% in the third quarter. Kestra Advisory Services LLC now owns 5,030 shares of the technology company's stock worth $227,000 after acquiring an additional 404 shares during the last quarter. Headlands Technologies LLC purchased a new position in Lumentum in the third quarter worth approximately $26,000. Finally, Janney Montgomery Scott LLC lifted its stake in Lumentum by 5.3% in the third quarter. Janney Montgomery Scott LLC now owns 12,460 shares of the technology company's stock worth $563,000 after acquiring an additional 623 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Raymond James lifted their price target on shares of Lumentum from $51.50 to $58.00 and gave the stock an "outperform" rating in a research note on Monday, April 1st. Needham & Company LLC restated a "buy" rating and set a $50.00 price objective on shares of Lumentum in a research report on Friday, February 9th. Stifel Nicolaus restated a "buy" rating and set a $62.00 price objective on shares of Lumentum in a research report on Monday, April 1st. JPMorgan Chase & Co. reduced their price objective on shares of Lumentum from $62.00 to $57.00 and set an "overweight" rating for the company in a research report on Thursday, April 11th. Finally, Susquehanna reduced their price objective on shares of Lumentum from $65.00 to $60.00 and set a "positive" rating for the company in a research report on Friday, February 9th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $52.69.

Lumentum Price Performance

Shares of NASDAQ:LITE traded up $1.41 on Friday, reaching $43.42. 705,153 shares of the company were exchanged, compared to its average volume of 834,963. The company has a current ratio of 3.13, a quick ratio of 2.42 and a debt-to-equity ratio of 1.96. Lumentum Holdings Inc. has a 1-year low of $35.35 and a 1-year high of $65.16. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of -11.02 and a beta of 1.09. The company has a 50-day moving average of $46.85 and a 200-day moving average of $47.02.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The technology company reported ($0.17) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.07). Lumentum had a positive return on equity of 1.04% and a negative net margin of 18.52%. The company had revenue of $366.80 million for the quarter, compared to analyst estimates of $363.44 million. Equities analysts forecast that Lumentum Holdings Inc. will post -0.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Matthew Joseph Sepe sold 9,903 shares of the business's 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 sale, the chief accounting officer now directly owns 33,188 shares in the company, valued at approximately $1,633,845.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.60% of the company's stock.

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.