Ellevest Inc. Invests $311,000 in Lumentum Holdings Inc. (NASDAQ:LITE)

Ellevest Inc. bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) in the fourth quarter, HoldingsChannel.com reports. The firm bought 3,701 shares of the technology company’s stock, valued at approximately $311,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of LITE. J.Safra Asset Management Corp boosted its stake 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 valued at $43,000 after buying an additional 122 shares during the period. Jones Financial Companies Lllp lifted its stake in Lumentum by 54.2% in the fourth quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock worth $31,000 after acquiring an additional 130 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in Lumentum by 27.2% during the 4th quarter. Quadrant Capital Group LLC now owns 766 shares of the technology company’s stock worth $64,000 after acquiring an additional 164 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Lumentum by 4.0% in the 4th quarter. Crossmark Global Holdings Inc. now owns 4,350 shares of the technology company’s stock valued at $365,000 after purchasing an additional 168 shares during the last quarter. Finally, Manchester Capital Management LLC raised its holdings in shares of Lumentum by 22.6% in the 4th 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. 94.05% of the stock is owned by institutional investors and hedge funds.

Lumentum Price Performance

Shares of NASDAQ:LITE opened at $64.87 on Friday. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76. Lumentum Holdings Inc. has a one year low of $38.29 and a one year high of $104.00. The business’s fifty day moving average price is $60.21 and its two-hundred day moving average price is $74.67. The stock has a market cap of $4.49 billion, a PE ratio of -8.44 and a beta of 1.18.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The company had revenue of $425.20 million for the quarter, compared to analyst estimates of $418.18 million. Lumentum had a negative return on equity of 7.25% and a negative net margin of 36.98%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.09 EPS. On average, analysts forecast that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on LITE. Jefferies Financial Group began coverage on Lumentum in a report on Friday, February 21st. They issued a “buy” rating on the stock. Raymond James dropped their price objective on Lumentum from $82.00 to $80.00 and set a “strong-buy” rating on the stock in a report on Wednesday. Northland Securities set a $80.00 target price on Lumentum in a research report on Wednesday. Rosenblatt Securities upped their price target on Lumentum from $85.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday. Finally, UBS Group cut their price objective on shares of Lumentum from $96.00 to $78.00 and set a “neutral” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $82.20.

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 shares were sold at an average price of $78.34, for a total value of $170,154.48. Following the transaction, the chief financial officer now owns 51,976 shares in the company, valued at $4,071,799.84. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by company 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.