R Squared Ltd acquired a new position in Lumentum Holdings Inc. (NASDAQ:LITE – Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,030 shares of the technology company’s stock, valued at approximately $86,000.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its stake in shares of Lumentum by 13.8% in the third quarter. Signaturefd LLC now owns 1,302 shares of the technology company’s stock worth $83,000 after acquiring an additional 158 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Lumentum by 4.0% in the 4th quarter. Crossmark Global Holdings Inc. now owns 4,350 shares of the technology company’s stock valued at $365,000 after purchasing an additional 168 shares in the last quarter. Synovus Financial Corp boosted its stake in shares of Lumentum by 1.5% during the 3rd quarter. Synovus Financial Corp now owns 13,225 shares of the technology company’s stock valued at $838,000 after buying an additional 200 shares during the last quarter. Quarry LP grew its position in shares of Lumentum by 85.5% during the third quarter. Quarry LP now owns 436 shares of the technology company’s stock worth $28,000 after buying an additional 201 shares in the last quarter. Finally, UMB Bank n.a. grew its position 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. Institutional investors and hedge funds own 94.05% of the company’s stock.
Insiders Place Their Bets
In other news, CFO Wajid Ali sold 29,887 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $85.06, for a total value of $2,542,188.22. Following the completion of the sale, the chief financial officer now directly owns 56,492 shares of the company’s stock, valued at approximately $4,805,209.52. This represents a 34.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Harold L. Covert sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $87.17, for a total transaction of $1,307,550.00. Following the transaction, the director now owns 8,761 shares in the company, valued at $763,696.37. This represents a 63.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,797 shares of company stock worth $8,881,428. 0.19% of the stock is owned by company insiders.
Analysts Set New Price Targets
Check Out Our Latest Stock Report on LITE
Lumentum Stock Up 7.8 %
Lumentum stock opened at $83.98 on Friday. The firm has a market capitalization of $5.77 billion, a P/E ratio of -10.14 and a beta of 0.94. The company has a 50-day simple moving average of $87.56 and a 200-day simple moving average of $70.21. Lumentum Holdings Inc. has a one year low of $38.28 and a one year high of $104.00. The company has a debt-to-equity ratio of 2.87, a quick ratio of 4.04 and a current ratio of 5.36.
Lumentum (NASDAQ:LITE – Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The technology company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.48). Lumentum had a negative net margin of 40.70% and a negative return on equity of 6.79%. The business had revenue of $336.90 million for the quarter, compared to the consensus estimate of $326.94 million. During the same period last year, the firm posted ($0.10) EPS. As a group, equities analysts expect that Lumentum Holdings Inc. will post -0.02 earnings per share for the current 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.
Featured Stories
- Five stocks we like better than Lumentum
- How to Calculate Return on Investment (ROI)
- How Growth Investors Find High-Growth Stocks and Maximize Returns
- How to Use Stock Screeners to Find Stocks
- Meta’s AI & Smart Glasses Could Drive 20%+ Upside in 2025
- Insider Buying Explained: What Investors Need to Know
- NVIDIA’s Slide Continues: Can Retail Investors Stop the Fall?
Receive News & Ratings for Lumentum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumentum and related companies with MarketBeat.com's FREE daily email newsletter.