International Assets Investment Management LLC Takes $1.38 Million Position in Lumentum Holdings Inc. (NASDAQ:LITE)

International Assets Investment Management LLC purchased a new stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 26,315 shares of the technology company's stock, valued at approximately $1,379,000.

A number of other institutional investors and hedge funds have also bought and sold shares of LITE. FengHe Fund Management Pte. Ltd. purchased a new stake in shares of Lumentum during the 4th quarter valued at $19,547,000. Pathstone Family Office LLC increased its position in shares of Lumentum by 46.3% during the 3rd quarter. Pathstone Family Office LLC now owns 13,296 shares of the technology company's stock valued at $606,000 after purchasing an additional 4,207 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Lumentum by 52.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 211,684 shares of the technology company's stock valued at $9,564,000 after purchasing an additional 73,047 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Lumentum during the 3rd quarter valued at $32,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Lumentum by 336.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 70,244 shares of the technology company's stock worth $3,174,000 after acquiring an additional 54,164 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

Lumentum Price Performance

Shares of NASDAQ LITE traded up $1.11 during trading hours on Wednesday, reaching $45.72. 1,242,042 shares of the stock traded hands, compared to its average volume of 1,438,287. The company has a debt-to-equity ratio of 2.13, a quick ratio of 3.87 and a current ratio of 5.20. Lumentum Holdings Inc. has a 52-week low of $35.35 and a 52-week high of $65.16. The company's 50-day simple moving average is $45.49 and its two-hundred day simple moving average is $47.47.

Analysts Set New Price Targets

Several research analysts have recently weighed in on LITE shares. JPMorgan Chase & Co. cut their price target on Lumentum from $62.00 to $57.00 and set an "overweight" rating for the company in a research note on Thursday, April 11th. Raymond James raised their target price on Lumentum from $51.50 to $58.00 and gave the stock an "outperform" rating in a research note on Monday, April 1st. StockNews.com upgraded Lumentum to a "sell" rating in a research note on Monday, May 6th. Susquehanna cut their target price on Lumentum from $65.00 to $60.00 and set a "positive" rating for the company in a research note on Friday, February 9th. Finally, Stifel Nicolaus restated a "buy" rating and issued a $62.00 target price on shares of Lumentum in a research note on Monday, April 1st. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Lumentum presently has an average rating of "Hold" and a consensus price target of $51.83.

Insider Activity at Lumentum

In other Lumentum news, CAO Matthew Joseph Sepe sold 9,903 shares of Lumentum stock in a transaction that occurred on Thursday, February 15th. The stock was 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 approximately $1,633,845.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by 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.