Occudo Quantitative Strategies LP Boosts Stock Holdings in Lumentum Holdings Inc. (NASDAQ:LITE)

Occudo Quantitative Strategies LP grew its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 273.6% in the 4th quarter, HoldingsChannel reports. The firm owned 12,250 shares of the technology company’s stock after buying an additional 8,971 shares during the quarter. Occudo Quantitative Strategies LP’s holdings in Lumentum were worth $1,028,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. UMB Bank n.a. increased its holdings 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 during the period. Jones Financial Companies Lllp boosted its position in 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 acquiring an additional 130 shares in the last quarter. CoreCap Advisors LLC increased its holdings in shares of Lumentum by 2,235.3% in the 4th quarter. CoreCap Advisors LLC now owns 397 shares of the technology company’s stock valued at $33,000 after acquiring an additional 380 shares during the period. J.Safra Asset Management Corp increased 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 valued at $43,000 after acquiring an additional 122 shares during the period. Finally, Quadrant Capital Group LLC raised its position in shares of Lumentum by 27.2% in 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. Institutional investors own 94.05% of the company’s stock.

Insider Transactions at Lumentum

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group started coverage on Lumentum in a research report on Friday, February 21st. They set a “buy” rating on the stock. Morgan Stanley lowered their price target on shares of Lumentum from $83.00 to $81.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. JPMorgan Chase & Co. reduced their price objective on shares of Lumentum from $105.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Stifel Nicolaus raised their target price on shares of Lumentum from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Northland Securities set a $80.00 price objective on Lumentum in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $82.20.

Lumentum Trading Up 3.9%

Shares of NASDAQ:LITE opened at $74.51 on Wednesday. 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 Holdings Inc. has a 52-week low of $38.29 and a 52-week high of $104.00. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of -9.69 and a beta of 1.18. The business has a 50-day moving average price of $60.57 and a 200-day moving average price of $74.79.

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 the consensus estimate of $0.50 by $0.07. Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. The company had revenue of $425.20 million for the quarter, compared to the consensus estimate of $418.18 million. During the same quarter in the prior year, the company earned $0.09 EPS. Lumentum’s quarterly revenue was up 16.0% on a year-over-year basis. Equities analysts predict that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Lumentum Company 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.