Fox Run Management L.L.C. Sells 1,909 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Fox Run Management L.L.C. lowered its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 20.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,281 shares of the technology company’s stock after selling 1,909 shares during the period. Fox Run Management L.L.C.’s holdings in Lumentum were worth $611,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP grew its stake in shares of Lumentum by 85.5% in the third quarter. Quarry LP now owns 436 shares of the technology company’s stock worth $28,000 after acquiring an additional 201 shares during the last quarter. UMB Bank n.a. boosted its stake in Lumentum by 301.2% in the 4th quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock worth $28,000 after purchasing an additional 253 shares in the last quarter. Jones Financial Companies Lllp grew its position in Lumentum by 54.2% during the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock valued at $31,000 after purchasing an additional 130 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Lumentum by 67.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company’s stock valued at $42,000 after purchasing an additional 270 shares in the last quarter. Finally, J.Safra Asset Management Corp raised its holdings in Lumentum by 31.1% in the fourth quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company’s stock worth $43,000 after buying an additional 122 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Lumentum Price Performance

NASDAQ LITE opened at $73.63 on Tuesday. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76. The business’s fifty day moving average is $77.15 and its 200 day moving average is $75.90. The company has a market capitalization of $5.10 billion, a PE ratio of -9.57 and a beta of 1.03. Lumentum Holdings Inc. has a fifty-two week low of $38.29 and a fifty-two week high of $104.00.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.41). Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. Sell-side analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Insider Activity

In related news, CFO Wajid Ali sold 2,172 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 51,976 shares in the company, valued at approximately $4,071,799.84. This trade represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LITE shares. UBS Group raised their price target on shares of Lumentum from $93.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Rosenblatt Securities reissued a “buy” rating and issued a $110.00 target price on shares of Lumentum in a report on Friday, February 7th. Northland Securities boosted their price target on Lumentum from $60.00 to $70.00 and gave the stock a “market perform” rating in a research note on Friday, February 7th. Raymond James raised Lumentum from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the company from $96.00 to $82.00 in a research report on Monday. Finally, BNP Paribas raised Lumentum from a “neutral” rating to an “outperform” rating and set a $92.00 target price for the company in a research report on Tuesday, March 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $87.40.

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.