Leeward Investments LLC MA Lowers Holdings in Lumentum Holdings Inc. (NASDAQ:LITE)

Leeward Investments LLC MA lessened its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 349,797 shares of the technology company’s stock after selling 26,038 shares during the quarter. Lumentum accounts for approximately 1.5% of Leeward Investments LLC MA’s holdings, making the stock its 11th biggest position. Leeward Investments LLC MA owned approximately 0.51% of Lumentum worth $29,365,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of LITE. Atreides Management LP raised its position in Lumentum by 28.5% in the 3rd quarter. Atreides Management LP now owns 1,691,017 shares of the technology company’s stock worth $107,177,000 after buying an additional 375,389 shares during the last quarter. Geode Capital Management LLC raised its position in Lumentum by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,186,163 shares of the technology company’s stock worth $75,198,000 after buying an additional 15,799 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Lumentum by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 738,155 shares of the technology company’s stock worth $46,784,000 after buying an additional 37,109 shares during the last quarter. Pinnacle Associates Ltd. raised its position in Lumentum by 50.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 407,789 shares of the technology company’s stock worth $25,846,000 after buying an additional 136,659 shares during the last quarter. Finally, Emerald Advisers LLC raised its position in Lumentum by 29.1% in the 3rd quarter. Emerald Advisers LLC now owns 378,535 shares of the technology company’s stock worth $23,992,000 after buying an additional 85,353 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insider Transactions at Lumentum

In related news, insider Vincent Retort sold 41,710 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.52, for a total transaction of $3,733,879.20. Following the sale, the insider now owns 147,515 shares in the company, valued at approximately $13,205,542.80. This represents a 22.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Wajid Ali sold 2,172 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total value of $170,154.48. Following the sale, the chief financial officer now owns 51,976 shares in the company, valued at $4,071,799.84. The trade was a 4.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,769 shares of company stock valued at $6,446,222 in the last ninety days. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on LITE shares. Needham & Company LLC reissued a “buy” rating and issued a $110.00 target price on shares of Lumentum in a research report on Friday, February 7th. B. Riley boosted their target price on Lumentum from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Susquehanna boosted their target price on Lumentum from $80.00 to $115.00 and gave the stock a “positive” rating in a research report on Friday, November 8th. Northland Securities boosted their price target on Lumentum from $60.00 to $70.00 and gave the company a “market perform” rating in a research note on Friday, February 7th. Finally, Morgan Stanley cut their price target on Lumentum from $83.00 to $81.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $88.07.

Lumentum Trading Down 3.9 %

LITE stock opened at $73.35 on Friday. Lumentum Holdings Inc. has a 1-year low of $38.28 and a 1-year high of $104.00. The company has a debt-to-equity ratio of 2.94, a current ratio of 4.76 and a quick ratio of 3.60. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of -9.54 and a beta of 0.94. The business has a 50 day simple moving average of $85.22 and a two-hundred day simple moving average of $73.69.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative return on equity of 7.25% and a negative net margin of 36.98%. Research analysts anticipate that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

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.