Thompson Investment Management Inc. Sells 25,089 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Thompson Investment Management Inc. decreased its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 22.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 86,465 shares of the technology company’s stock after selling 25,089 shares during the period. Thompson Investment Management Inc. owned about 0.13% of Lumentum worth $7,259,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Truist Financial Corp raised its holdings in shares of Lumentum by 5.8% during the 2nd quarter. Truist Financial Corp now owns 11,054 shares of the technology company’s stock worth $563,000 after acquiring an additional 607 shares in the last quarter. GAMMA Investing LLC grew its position in Lumentum by 141.6% in the 3rd quarter. GAMMA Investing LLC now owns 894 shares of the technology company’s stock valued at $57,000 after acquiring an additional 524 shares during the last quarter. Creative Planning grew its position in Lumentum by 36.0% in the 3rd quarter. Creative Planning now owns 6,914 shares of the technology company’s stock valued at $438,000 after acquiring an additional 1,831 shares during the last quarter. nVerses Capital LLC grew its position in Lumentum by 54.8% in the 3rd quarter. nVerses Capital LLC now owns 4,800 shares of the technology company’s stock valued at $304,000 after acquiring an additional 1,700 shares during the last quarter. Finally, First Citizens Bank & Trust Co. bought a new position in Lumentum in the 3rd quarter valued at $259,000. Institutional investors own 94.05% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LITE shares. Stifel Nicolaus increased their price target on Lumentum from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday. Barclays raised Lumentum from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $80.00 to $125.00 in a research report on Friday, January 17th. B. Riley raised their price objective on Lumentum from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday. Susquehanna raised their price target on Lumentum from $80.00 to $115.00 and gave the stock a “positive” rating in a report on Friday, November 8th. Finally, Northland Securities raised their price target on Lumentum from $60.00 to $70.00 and gave the stock a “market perform” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $88.07.

Lumentum Trading Down 7.3 %

Shares of Lumentum stock opened at $85.90 on Friday. Lumentum Holdings Inc. has a 52 week low of $38.28 and a 52 week high of $104.00. The business’s fifty day simple moving average is $87.68 and its 200-day simple moving average is $71.60. The company has a quick ratio of 4.04, a current ratio of 5.36 and a debt-to-equity ratio of 2.87.

Lumentum (NASDAQ:LITE) last posted its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative return on equity of 7.00% and a negative net margin of 36.98%. Research analysts predict that Lumentum Holdings Inc. will post -0.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Matthew Joseph Sepe sold 8,172 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $87.60, for a total value of $715,867.20. Following the transaction, the chief accounting officer now owns 21,138 shares in the company, valued at approximately $1,851,688.80. This represents a 27.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Harold L. Covert sold 15,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $87.17, for a total value of $1,307,550.00. Following the completion of the transaction, the director now owns 8,761 shares in the company, valued at approximately $763,696.37. The trade was a 63.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,797 shares of company stock worth $8,881,428 in the last quarter. 0.19% of the stock is owned by company insiders.

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.