Princeton Capital Management LLC Makes New Investment in Lumentum Holdings Inc. (NASDAQ:LITE)

Princeton Capital Management LLC purchased a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,585 shares of the technology company’s stock, valued at approximately $217,000.

Other large investors have also recently bought and sold shares of the company. UMB Bank n.a. boosted its stake in Lumentum by 301.2% during the fourth quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock valued at $28,000 after buying an additional 253 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of 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 in the last quarter. Quarry LP grew its stake in shares of Lumentum by 85.5% in the 3rd quarter. Quarry LP now owns 436 shares of the technology company’s stock worth $28,000 after purchasing an additional 201 shares during the last quarter. J.Safra Asset Management Corp raised its holdings in shares of Lumentum by 31.1% in the 4th quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company’s stock worth $43,000 after purchasing an additional 122 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Lumentum by 67.5% during the third 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 during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Activity

In other news, CFO Wajid Ali sold 2,172 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total value of $170,154.48. Following the completion of the transaction, the chief financial officer now directly owns 51,976 shares of the company’s stock, valued at approximately $4,071,799.84. This represents a 4.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LITE. B. Riley lifted their price target on Lumentum from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. UBS Group raised their price objective on shares of Lumentum from $93.00 to $96.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Needham & Company LLC restated a “buy” rating and issued a $110.00 target price on shares of Lumentum in a report on Friday, February 7th. Northland Securities lifted their price target on Lumentum from $60.00 to $70.00 and gave the company a “market perform” rating in a report on Friday, February 7th. Finally, Jefferies Financial Group assumed coverage on Lumentum in a research report on Friday, February 21st. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.40.

Lumentum Stock Up 10.5 %

Shares of LITE stock opened at $73.63 on Tuesday. Lumentum Holdings Inc. has a 12 month low of $38.29 and a 12 month high of $104.00. The company has a quick ratio of 3.60, a current ratio of 4.76 and a debt-to-equity ratio of 2.94. The firm has a market cap of $5.10 billion, a PE ratio of -9.57 and a beta of 1.03. The stock has a 50 day moving average of $77.15 and a 200-day moving average of $75.90.

Lumentum (NASDAQ:LITE) last released 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 7.25%. On average, equities analysts predict that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

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.