Sapience Investments LLC Sells 8,148 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Sapience Investments LLC trimmed its holdings in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 25.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,626 shares of the technology company's stock after selling 8,148 shares during the period. Sapience Investments LLC's holdings in Lumentum were worth $1,983,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of LITE. Capital World Investors raised its stake in shares of Lumentum by 108.3% during the 4th quarter. Capital World Investors now owns 3,600,132 shares of the technology company's stock valued at $302,231,000 after purchasing an additional 1,871,572 shares during the period. Norges Bank purchased a new position in Lumentum during the fourth quarter valued at approximately $68,962,000. Nuveen Asset Management LLC increased its holdings in Lumentum by 98.9% during the 4th quarter. Nuveen Asset Management LLC now owns 1,228,371 shares of the technology company's stock worth $103,122,000 after acquiring an additional 610,938 shares during the period. Balyasny Asset Management L.P. increased its holdings in Lumentum by 419.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 444,147 shares of the technology company's stock worth $37,286,000 after acquiring an additional 583,330 shares during the period. Finally, Capital Research Global Investors purchased a new stake in Lumentum in the 4th quarter worth approximately $42,415,000. Institutional investors own 94.05% of the company's stock.

Insider Buying and Selling

In related news, insider Yuen Wupen sold 4,426 shares of Lumentum stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $71.80, for a total value of $317,786.80. Following the sale, the insider now owns 92,099 shares in the company, valued at $6,612,708.20. The trade was a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jae Kim sold 4,577 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $77.98, for a total value of $356,914.46. Following the completion of the transaction, the senior vice president now owns 31,534 shares of the company's stock, valued at approximately $2,459,021.32. The trade was a 12.67% decrease in their position. 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 over the last three months. 0.19% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on LITE shares. 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. B. Riley upped their target price on Lumentum from $62.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Barclays set a $75.00 price target on Lumentum and gave the company an "overweight" rating in a report on Wednesday, May 7th. Raymond James cut their price objective on Lumentum from $82.00 to $80.00 and set a "strong-buy" rating for the company in a report on Wednesday, May 7th. Finally, Northland Securities set a $80.00 price objective on shares of Lumentum in a research report on Wednesday, May 7th. One investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $82.20.

Lumentum Trading Up 0.5%

NASDAQ:LITE traded up $0.42 during trading hours on Thursday, reaching $76.37. The company's stock had a trading volume of 595,716 shares, compared to its average volume of 1,979,740. The firm has a 50-day simple moving average of $62.48 and a 200-day simple moving average of $75.24. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76. Lumentum Holdings Inc. has a 1 year low of $38.29 and a 1 year high of $104.00. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of -9.93 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 (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.07. The business had revenue of $425.20 million for the quarter, compared to analyst estimates of $418.18 million. Lumentum had a negative return on equity of 7.25% and a negative net margin of 36.98%. Lumentum's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period last year, the company earned $0.09 EPS. Research analysts expect that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal 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.