Gilder Gagnon Howe & Co. LLC Makes New Investment in Lumentum Holdings Inc. (NASDAQ:LITE)

Gilder Gagnon Howe & Co. LLC bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) in the 4th quarter, Holdings Channel.com reports. The fund bought 13,518 shares of the technology company’s stock, valued at approximately $1,135,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in LITE. UMB Bank n.a. boosted its holdings in Lumentum by 301.2% in the fourth quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock valued at $28,000 after acquiring an additional 253 shares during the last quarter. Jones Financial Companies Lllp lifted 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 period. J.Safra Asset Management Corp lifted its position in Lumentum by 31.1% during the 4th quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company’s stock valued at $43,000 after purchasing an additional 122 shares during the period. Quadrant Capital Group LLC grew its position in shares of Lumentum by 27.2% during the 4th quarter. Quadrant Capital Group LLC now owns 766 shares of the technology company’s stock worth $64,000 after buying an additional 164 shares during the period. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Lumentum during the fourth quarter worth approximately $67,000. Institutional investors own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LITE. B. Riley raised their price objective on shares of Lumentum from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. BNP Paribas raised Lumentum from a “neutral” rating to an “outperform” rating and set a $92.00 price target on the stock in a research note on Tuesday, March 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $110.00 price objective on shares of Lumentum in a research note on Friday, February 7th. Northland Securities upgraded Lumentum from a “market perform” rating to an “outperform” rating in a report on Monday, April 7th. Finally, Rosenblatt Securities decreased their target price on Lumentum from $110.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Lumentum has an average rating of “Moderate Buy” and a consensus target price of $82.60.

Insider Activity

In other news, CFO Wajid Ali sold 2,172 shares of Lumentum stock in a transaction that occurred 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 directly owns 51,976 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.19% of the company’s stock.

Lumentum Stock Performance

Shares of LITE opened at $60.00 on Friday. The firm’s 50 day moving average price is $61.91 and its two-hundred day moving average price is $74.99. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76. Lumentum Holdings Inc. has a twelve month low of $38.29 and a twelve month high of $104.00. The firm has a market cap of $4.15 billion, a P/E ratio of -7.80 and a beta of 1.14.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. On average, analysts forecast 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.