Manchester Capital Management LLC Has $86,000 Position in Lumentum Holdings Inc. (NASDAQ:LITE)

Manchester Capital Management LLC increased its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 22.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,029 shares of the technology company’s stock after acquiring an additional 190 shares during the period. Manchester Capital Management LLC’s holdings in Lumentum were worth $86,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in LITE. Creative Planning boosted its position in shares of Lumentum by 36.0% during 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 in the last quarter. nVerses Capital LLC boosted its position in shares of Lumentum by 54.8% during 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 in the last quarter. First Citizens Bank & Trust Co. acquired a new stake in shares of Lumentum during the 3rd quarter valued at about $259,000. Signaturefd LLC boosted its position in shares of Lumentum by 13.8% during the 3rd quarter. Signaturefd LLC now owns 1,302 shares of the technology company’s stock valued at $83,000 after acquiring an additional 158 shares in the last quarter. Finally, Lecap Asset Management Ltd. acquired a new stake in shares of Lumentum during the 3rd quarter valued at about $1,632,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on LITE shares. Raymond James lifted their price target on shares of Lumentum from $94.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Morgan Stanley cut their price target on shares of Lumentum from $83.00 to $81.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Stifel Nicolaus lifted their price target on shares of Lumentum from $95.00 to $105.00 and gave the company a “buy” rating in a report on Friday, February 7th. Northland Securities lifted their price target on shares of Lumentum from $60.00 to $70.00 and gave the company a “market perform” rating in a report on Friday, February 7th. Finally, B. Riley lifted their price target on shares of Lumentum from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $88.07.

Lumentum Trading Down 0.6 %

LITE opened at $77.68 on Friday. The company has a debt-to-equity ratio of 2.87, a current ratio of 5.36 and a quick ratio of 4.04. The company has a market cap of $5.34 billion, a price-to-earnings ratio of -10.10 and a beta of 0.94. The firm has a 50 day simple moving average of $86.50 and a 200 day simple moving average of $72.58. Lumentum Holdings Inc. has a fifty-two week low of $38.28 and a fifty-two week high of $104.00.

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 analysts’ consensus estimates of $0.27 by ($0.41). Lumentum had a negative return on equity of 7.00% and a negative net margin of 36.98%. On average, sell-side analysts anticipate that Lumentum Holdings Inc. will post -0.04 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Vincent Retort sold 41,710 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $89.52, for a total transaction of $3,733,879.20. Following the completion of the transaction, the insider now owns 147,515 shares in the company, valued at approximately $13,205,542.80. The trade was a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Wajid Ali sold 29,887 shares of the business’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 transaction of $2,542,188.22. Following the transaction, the chief financial officer now 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 disclosure for this sale can be found here. Insiders sold a total of 78,625 shares of company stock valued at $6,858,010 over the last ninety days. Insiders own 0.19% of the company’s stock.

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.