Lumentum Holdings Inc. (NASDAQ:LITE) Shares Sold by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC lowered its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 4.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,101,936 shares of the technology company’s stock after selling 48,056 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned 1.60% of Lumentum worth $92,508,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LITE. Arrowstreet Capital Limited Partnership acquired a new stake in Lumentum during the 4th quarter valued at approximately $15,945,000. Pictet Asset Management Holding SA raised its holdings in Lumentum by 13.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 9,293 shares of the technology company’s stock valued at $780,000 after acquiring an additional 1,108 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Lumentum by 688.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 5,281 shares of the technology company’s stock valued at $443,000 after acquiring an additional 4,611 shares during the last quarter. Norges Bank acquired a new position in Lumentum during the 4th quarter worth $68,962,000. Finally, Blair William & Co. IL bought a new stake in shares of Lumentum in the 4th quarter worth about $263,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LITE shares. Needham & Company LLC restated a “buy” rating and set a $110.00 price objective on shares of Lumentum 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 report on Tuesday, March 11th. UBS Group lifted their price objective on shares of Lumentum from $93.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. B. Riley increased their target price on shares of Lumentum from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $110.00 price target on shares of Lumentum in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Lumentum has an average rating of “Moderate Buy” and a consensus target price of $87.40.

Lumentum Price Performance

Shares of NASDAQ LITE opened at $62.58 on Friday. The stock has a market cap of $4.33 billion, a P/E ratio of -8.14 and a beta of 1.03. The firm’s 50-day simple moving average is $75.28 and its 200 day simple moving average is $76.14. Lumentum Holdings Inc. has a fifty-two week low of $38.29 and a fifty-two week 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.

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

Insiders Place Their Bets

In other Lumentum news, CFO Wajid Ali sold 2,172 shares of the business’s stock in a transaction dated 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 approximately $4,071,799.84. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by 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.