Lumentum Holdings Inc. (NASDAQ:LITE) Shares Sold by SG Capital Management LLC

SG Capital Management LLC decreased its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 65.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,003 shares of the technology company's stock after selling 161,685 shares during the period. SG Capital Management LLC owned approximately 0.13% of Lumentum worth $7,220,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. UMB Bank n.a. lifted its holdings in shares of Lumentum by 301.2% during the fourth quarter. UMB Bank n.a. now owns 337 shares of the technology company's stock worth $28,000 after purchasing an additional 253 shares during the period. Jones Financial Companies Lllp grew its stake in Lumentum by 54.2% during the fourth quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company's stock worth $31,000 after purchasing an additional 130 shares during the period. CoreCap Advisors LLC grew its stake in shares of Lumentum by 2,235.3% in the 4th quarter. CoreCap Advisors LLC now owns 397 shares of the technology company's stock valued at $33,000 after buying an additional 380 shares during the period. J.Safra Asset Management Corp boosted its holdings in Lumentum by 31.1% in the fourth quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company's stock worth $43,000 after acquiring an additional 122 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in Lumentum by 27.2% during the fourth 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. 94.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on LITE shares. UBS Group dropped their price target on shares of Lumentum from $96.00 to $78.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Stifel Nicolaus increased their price target on Lumentum from $95.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, February 7th. BNP Paribas upgraded shares of Lumentum from a "neutral" rating to an "outperform" rating and set a $92.00 target price for the company in a research note on Tuesday, March 11th. Needham & Company LLC dropped their price target on shares of Lumentum from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Finally, Northland Capmk raised shares of Lumentum from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $82.20.

Insider Transactions at Lumentum

In related news, SVP Jae Kim sold 4,577 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $77.98, for a total transaction of $356,914.46. Following the transaction, the senior vice president now directly owns 31,534 shares of the company's stock, valued at $2,459,021.32. This represents a 12.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Yuen Wupen sold 4,716 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $76.87, for a total value of $362,518.92. Following the completion of the transaction, the insider now owns 82,957 shares of the company's stock, valued at $6,376,904.59. This trade represents a 5.38% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,298 shares of company stock valued at $1,081,764. 0.19% of the stock is currently owned by corporate insiders.

Lumentum Stock Performance

Shares of NASDAQ:LITE traded down $0.52 during midday trading on Wednesday, hitting $76.59. The company had a trading volume of 890,080 shares, compared to its average volume of 1,977,478. The company has a fifty day moving average of $62.23 and a two-hundred day moving average of $75.23. The company has a debt-to-equity ratio of 2.94, a current ratio of 4.76 and a quick ratio of 3.60. Lumentum Holdings Inc. has a 12-month low of $38.29 and a 12-month high of $104.00. The company has a market cap of $5.32 billion, a price-to-earnings ratio of -9.92 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 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.07. Lumentum had a negative return on equity of 7.25% and a negative net margin of 36.98%. The company had revenue of $425.20 million for the quarter, compared to analysts' expectations of $418.18 million. During the same period in the previous year, the firm earned $0.09 EPS. The firm's revenue was up 16.0% compared to the same quarter last year. On average, equities research analysts expect that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

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.