Mcdonald Partners LLC Sells 475 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Mcdonald Partners LLC cut its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,325 shares of the technology company’s stock after selling 475 shares during the quarter. Mcdonald Partners LLC’s holdings in Lumentum were worth $1,538,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of LITE. Peregrine Investment Management Inc. bought a new position in shares of Lumentum during the 4th quarter worth approximately $7,252,000. Manchester Capital Management LLC grew its position in Lumentum by 22.6% in the fourth quarter. Manchester Capital Management LLC now owns 1,029 shares of the technology company’s stock valued at $86,000 after purchasing an additional 190 shares in the last quarter. Legato Capital Management LLC bought a new position in Lumentum in the fourth quarter valued at $1,188,000. Louisiana State Employees Retirement System increased its stake in Lumentum by 1.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 19,100 shares of the technology company’s stock valued at $1,603,000 after buying an additional 300 shares during the last quarter. Finally, Lightrock Netherlands B.V. bought a new stake in Lumentum during the 4th quarter worth about $12,668,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on LITE shares. Morgan Stanley lowered their target price on Lumentum from $83.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. B. Riley boosted their price target on Lumentum from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Needham & Company LLC reiterated a “buy” rating and set a $110.00 price objective on shares of Lumentum in a research note on Friday, February 7th. Barclays raised shares of Lumentum from an “underweight” rating to an “overweight” rating and raised their target price for the company from $80.00 to $125.00 in a research note on Friday, January 17th. Finally, Stifel Nicolaus upped their price target on shares of Lumentum from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $88.07.

Lumentum Stock Performance

Shares of LITE opened at $77.68 on Tuesday. The company has a current ratio of 5.36, a quick ratio of 4.04 and a debt-to-equity ratio of 2.87. Lumentum Holdings Inc. has a 52 week low of $38.28 and a 52 week high of $104.00. The firm’s 50-day simple moving average is $86.25 and its 200 day simple moving average is $72.94.

Lumentum (NASDAQ:LITE) last posted its earnings results 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 7.00%. Sell-side analysts forecast that Lumentum Holdings Inc. will post -0.04 EPS for the current fiscal year.

Insider Buying and Selling at Lumentum

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 stock was sold at an average price of $89.52, for a total value of $3,733,879.20. Following the completion of the sale, the insider now directly 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 filing with the SEC, which is accessible through this link. Also, CFO Wajid Ali sold 29,887 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $85.06, for a total value of $2,542,188.22. Following the sale, the chief financial officer now directly owns 56,492 shares in the company, valued at $4,805,209.52. This represents a 34.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,000 shares of company stock valued at $6,726,239 in the last ninety days. 0.19% of the stock is currently owned by corporate insiders.

Lumentum Profile

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.