R Squared Ltd Purchases New Shares in Lumentum Holdings Inc. (NASDAQ:LITE)

R Squared Ltd acquired a new position in Lumentum Holdings Inc. (NASDAQ:LITEFree 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

A number of research analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $110.00 price objective on shares of Lumentum in a research note on Thursday, January 9th. Northland Securities lifted their price target on Lumentum from $45.00 to $60.00 and gave the stock a “market perform” rating in a research note on Friday, November 8th. Susquehanna boosted their price objective on Lumentum from $80.00 to $115.00 and gave the company a “positive” rating in a report on Friday, November 8th. Raymond James increased their target price on Lumentum from $70.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Rosenblatt Securities boosted their price target on Lumentum from $69.00 to $110.00 and gave the company a “buy” rating in a report on Friday, November 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $81.92.

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:LITEGet 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

(Free Report)

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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Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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