EAM Investors LLC Has $5.08 Million Stock Position in Lumentum Holdings Inc. (NASDAQ:LITE)

EAM Investors LLC cut its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 2.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,535 shares of the technology company’s stock after selling 1,379 shares during the quarter. EAM Investors LLC owned 0.09% of Lumentum worth $5,082,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. UMB Bank n.a. boosted its holdings in shares of Lumentum by 301.2% during the fourth quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock worth $28,000 after purchasing an additional 253 shares during the period. Jones Financial Companies Lllp lifted its position in Lumentum by 54.2% in the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock worth $31,000 after buying an additional 130 shares in the last quarter. J.Safra Asset Management Corp boosted its stake in shares of 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 buying an additional 122 shares during the period. Quadrant Capital Group LLC grew its holdings 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 valued at $64,000 after acquiring an additional 164 shares in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Lumentum in the fourth quarter worth $67,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Lumentum Trading Up 0.6 %

Shares of NASDAQ:LITE opened at $52.69 on Wednesday. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76. The stock’s 50-day moving average is $66.08 and its 200-day moving average is $75.65. The company has a market cap of $3.65 billion, a P/E ratio of -6.85 and a beta of 1.14. Lumentum Holdings Inc. has a 52-week low of $38.29 and a 52-week high of $104.00.

Lumentum (NASDAQ:LITE) last issued 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 research analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LITE. Jefferies Financial Group initiated coverage on Lumentum in a research report on Friday, February 21st. They set a “buy” rating for the company. Needham & Company LLC reissued a “buy” rating and issued a $110.00 price target on shares of Lumentum in a research note on Friday, February 7th. BNP Paribas raised shares of Lumentum from a “neutral” rating to an “outperform” rating and set a $92.00 price objective on the stock in a research report on Tuesday, March 11th. Rosenblatt Securities reissued a “buy” rating and issued a $110.00 target price on shares of Lumentum in a research report on Friday, February 7th. Finally, Northland Securities upgraded shares of Lumentum from a “market perform” rating to an “outperform” rating in a research note on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Lumentum presently has a consensus rating of “Moderate Buy” and an average target price of $87.40.

Insider Buying and Selling at Lumentum

In other Lumentum news, CFO Wajid Ali sold 2,172 shares of Lumentum stock in a transaction 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 owns 51,976 shares in the company, valued at approximately $4,071,799.84. The trade was a 4.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company 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.