Lumentum Holdings Inc. (NASDAQ:LITE) Shares Bought by Nuveen Asset Management LLC

Nuveen Asset Management LLC boosted its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 98.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,228,371 shares of the technology company's stock after acquiring an additional 610,938 shares during the period. Nuveen Asset Management LLC owned about 1.79% of Lumentum worth $103,122,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LITE. UMB Bank n.a. boosted its position in shares of Lumentum by 301.2% during the 4th quarter. UMB Bank n.a. now owns 337 shares of the technology company's stock worth $28,000 after acquiring an additional 253 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Lumentum by 54.2% during the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company's stock worth $31,000 after buying an additional 130 shares during the last quarter. CoreCap Advisors LLC lifted its position in shares of Lumentum by 2,235.3% during the 4th quarter. CoreCap Advisors LLC now owns 397 shares of the technology company's stock worth $33,000 after buying an additional 380 shares during the last quarter. J.Safra Asset Management Corp lifted its position in shares of Lumentum by 31.1% during the 4th quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company's stock worth $43,000 after buying an additional 122 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its position in shares of Lumentum by 27.2% during the 4th 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. Institutional investors and hedge funds own 94.05% of the company's stock.

Lumentum Price Performance

LITE stock traded down $0.76 on Tuesday, reaching $77.11. 1,028,378 shares of the company's stock were exchanged, compared to its average volume of 1,977,989. Lumentum Holdings Inc. has a twelve month low of $38.29 and a twelve month high of $104.00. The company has a quick ratio of 3.60, a current ratio of 4.76 and a debt-to-equity ratio of 2.94. The stock has a fifty day moving average of $61.89 and a 200-day moving average of $75.22. The firm has a market cap of $5.35 billion, a PE ratio of -10.03 and a beta of 1.18.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.07. Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. The business had revenue of $425.20 million for the quarter, compared to analysts' expectations of $418.18 million. During the same period in the prior year, the company posted $0.09 EPS. The business's revenue for the quarter was up 16.0% on a year-over-year basis. As a group, equities analysts predict that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Insider Transactions at Lumentum

In related news, insider Yuen Wupen sold 4,716 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $76.87, for a total value of $362,518.92. Following the sale, the insider now directly owns 82,957 shares of the company's stock, valued at approximately $6,376,904.59. This represents a 5.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jae Kim sold 4,577 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $77.98, for a total value of $356,914.46. Following the sale, the senior vice president now owns 31,534 shares in the company, valued at approximately $2,459,021.32. The trade was a 12.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,298 shares of company stock valued at $1,081,764 in the last ninety days. 0.19% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on LITE. 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 report on Thursday, April 17th. Barclays set a $75.00 price target on shares of Lumentum and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Raymond James reduced their price target on shares of Lumentum from $82.00 to $80.00 and set a "strong-buy" rating for the company in a research report on Wednesday, May 7th. BNP Paribas upgraded shares of Lumentum from a "neutral" rating to an "outperform" rating and set a $92.00 price target for the company in a research report on Tuesday, March 11th. Finally, UBS Group reduced their price target on shares of Lumentum from $96.00 to $78.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Lumentum presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.20.

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.