Fisher Asset Management LLC Has $30.59 Million Holdings in Lumentum Holdings Inc. (NASDAQ:LITE)

Fisher Asset Management LLC lessened its holdings in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 13.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 583,635 shares of the technology company's stock after selling 89,356 shares during the period. Fisher Asset Management LLC owned about 0.87% of Lumentum worth $30,594,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LITE. FengHe Fund Management Pte. Ltd. acquired a new position in shares of Lumentum in the fourth quarter worth $19,547,000. International Assets Investment Management LLC purchased a new stake in shares of Lumentum during the 4th quarter worth about $1,379,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Lumentum during the 4th quarter valued at about $1,389,000. Pathstone Family Office LLC grew its stake in shares of Lumentum by 46.3% in the 3rd quarter. Pathstone Family Office LLC now owns 13,296 shares of the technology company's stock valued at $606,000 after buying an additional 4,207 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Lumentum by 52.7% in the third quarter. Envestnet Asset Management Inc. now owns 211,684 shares of the technology company's stock worth $9,564,000 after buying an additional 73,047 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on LITE. B. Riley decreased their target price on shares of Lumentum from $42.00 to $41.00 and set a "neutral" rating for the company in a research report on Friday, February 9th. Stifel Nicolaus restated a "buy" rating and set a $62.00 target price on shares of Lumentum in a report on Monday, April 1st. Barclays upped their price target on Lumentum from $40.00 to $45.00 and gave the stock an "underweight" rating in a research note on Tuesday, January 16th. Needham & Company LLC reissued a "buy" rating and issued a $50.00 price objective on shares of Lumentum in a research note on Friday, February 9th. Finally, JPMorgan Chase & Co. reduced their target price on Lumentum from $62.00 to $57.00 and set an "overweight" rating for the company in a report on Thursday, April 11th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $52.69.

Insider Transactions at Lumentum

In other news, CAO Matthew Joseph Sepe sold 9,903 shares of the firm's stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $49.23, for a total transaction of $487,524.69. Following the completion of the sale, the chief accounting officer now owns 33,188 shares of the company's stock, valued at $1,633,845.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.60% of the stock is owned by insiders.

Lumentum Price Performance

Shares of Lumentum stock traded up $0.45 during trading on Friday, hitting $44.74. 1,795,315 shares of the company's stock traded hands, compared to its average volume of 913,825. Lumentum Holdings Inc. has a twelve month low of $35.35 and a twelve month high of $65.16. The company has a debt-to-equity ratio of 1.96, a current ratio of 3.13 and a quick ratio of 2.42. The company has a market cap of $3.02 billion, a PE ratio of -11.36 and a beta of 1.09. The firm's fifty day moving average price is $46.32 and its 200 day moving average price is $47.18.

Lumentum (NASDAQ:LITE - Get Free Report) last released 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%. Analysts forecast that Lumentum Holdings Inc. will post -0.64 earnings per share for the current year.

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.