Lumentum Holdings Inc. (NASDAQ:LITE) Shares Sold by Sora Investors LLC

Sora Investors LLC trimmed its position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 44.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 111,428 shares of the technology company's stock after selling 88,572 shares during the period. Sora Investors LLC owned about 0.16% of Lumentum worth $9,354,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LITE. Assenagon Asset Management S.A. purchased a new stake in shares of Lumentum during the fourth quarter worth approximately $2,723,000. Hanseatic Management Services Inc. acquired a new stake in Lumentum during the 4th quarter worth $1,165,000. UMB Bank n.a. grew 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 buying an additional 253 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Lumentum by 4.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 4,350 shares of the technology company's stock valued at $365,000 after buying an additional 168 shares during the last quarter. Finally, Zweig DiMenna Associates LLC purchased a new position in shares of Lumentum in the fourth quarter worth about $7,052,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. BNP Paribas upgraded shares of Lumentum from a "neutral" rating to an "outperform" rating and set a $92.00 price objective for the company in a report on Tuesday, March 11th. Barclays set a $75.00 price target on Lumentum and gave the company an "overweight" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. lowered their price objective on Lumentum from $105.00 to $73.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Northland Capmk raised Lumentum from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Finally, B. Riley lifted their price target on Lumentum from $62.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $82.20.

Insider Activity

In other Lumentum news, insider Yuen Wupen sold 4,716 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Wajid Ali sold 2,172 shares of the business's 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 completion of the transaction, the chief financial officer now owns 51,976 shares of the company's stock, valued at approximately $4,071,799.84. This trade represents a 4.01% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,314 shares of company stock valued at $850,460. 0.19% of the stock is currently owned by corporate insiders.

Lumentum Trading Down 0.1%

LITE stock traded down $0.08 during mid-day trading on Monday, hitting $77.87. 1,177,856 shares of the company were exchanged, compared to its average volume of 1,981,768. The business has a fifty day simple moving average of $61.89 and a 200-day simple moving average of $75.22. The firm has a market capitalization of $5.40 billion, a P/E ratio of -10.13 and a beta of 1.18. Lumentum Holdings Inc. has a 12-month low of $38.29 and a 12-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.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $425.20 million during the quarter, compared to analysts' expectations of $418.18 million. Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. The firm's quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the company posted $0.09 EPS. On average, equities research analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share 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.