Schonfeld Strategic Advisors LLC Raises Stock Holdings in Lumentum Holdings Inc. (NASDAQ:LITE)

Schonfeld Strategic Advisors LLC boosted its stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 15.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 345,410 shares of the technology company's stock after purchasing an additional 46,929 shares during the quarter. Schonfeld Strategic Advisors LLC owned about 0.50% of Lumentum worth $28,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Capital World Investors raised its position 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 buying an additional 1,871,572 shares in the last quarter. Alliancebernstein L.P. raised its position in Lumentum by 1.4% during the fourth quarter. Alliancebernstein L.P. now owns 1,711,956 shares of the technology company's stock valued at $143,719,000 after purchasing an additional 23,136 shares in the last quarter. Geode Capital Management LLC lifted its stake in Lumentum by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 1,195,605 shares of the technology company's stock worth $100,402,000 after purchasing an additional 9,442 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Lumentum by 8.1% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 838,289 shares of the technology company's stock worth $70,374,000 after purchasing an additional 62,937 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Lumentum during the 4th quarter valued at about $68,962,000. 94.05% of the stock is currently owned by institutional investors.

Insider Transactions at Lumentum

In related news, CFO Wajid Ali sold 2,172 shares of Lumentum stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total transaction of $170,154.48. Following the transaction, the chief financial officer now directly owns 51,976 shares in the company, valued at approximately $4,071,799.84. The trade was a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.19% of the company's stock.

Lumentum Stock Up 0.1 %

NASDAQ:LITE opened at $60.08 on Tuesday. The firm has a market cap of $4.16 billion, a P/E ratio of -7.81 and a beta of 1.14. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76. The firm has a 50-day simple moving average of $61.57 and a two-hundred day simple moving average of $74.99. Lumentum Holdings Inc. has a fifty-two week low of $38.29 and a fifty-two week high of $104.00.

Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. Analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Needham & Company LLC restated a "buy" rating and issued a $110.00 target price on shares of Lumentum in a research report on Friday, February 7th. Northland Securities raised shares of Lumentum from a "market perform" rating to an "outperform" rating in a research note on Monday, April 7th. Jefferies Financial Group initiated coverage on shares of Lumentum in a research report on Friday, February 21st. They issued a "buy" rating on the stock. BNP Paribas upgraded shares of Lumentum from a "neutral" rating to an "outperform" rating and set a $92.00 target price on the stock in a report on Tuesday, March 11th. Finally, UBS Group increased their price target on shares of Lumentum from $93.00 to $96.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Lumentum currently has an average rating of "Moderate Buy" and an average price target of $82.60.

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.

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