Lumentum Holdings Inc. (NASDAQ:LITE) Shares Acquired by Two Sigma Advisers LP

Two Sigma Advisers LP lifted its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 30.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,600 shares of the technology company’s stock after purchasing an additional 57,000 shares during the quarter. Two Sigma Advisers LP owned about 0.35% of Lumentum worth $20,450,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Capital World Investors raised its stake in Lumentum by 108.3% in the fourth quarter. Capital World Investors now owns 3,600,132 shares of the technology company’s stock valued at $302,231,000 after buying an additional 1,871,572 shares during the last quarter. Norges Bank purchased a new stake in shares of Lumentum during the fourth quarter worth about $68,962,000. Nuveen Asset Management LLC increased its holdings in shares of Lumentum by 98.9% during the fourth quarter. Nuveen Asset Management LLC now owns 1,228,371 shares of the technology company’s stock valued at $103,122,000 after acquiring an additional 610,938 shares in the last quarter. Balyasny Asset Management L.P. raised its position in shares of Lumentum by 419.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 444,147 shares of the technology company’s stock valued at $37,286,000 after purchasing an additional 583,330 shares during the last quarter. Finally, Capital Research Global Investors purchased a new position in shares of Lumentum in the 4th quarter valued at approximately $42,415,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Activity at Lumentum

In related news, SVP Jae Kim sold 4,577 shares of Lumentum stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $77.98, for a total value of $356,914.46. Following the completion of the transaction, the senior vice president now owns 31,534 shares in the company, valued at $2,459,021.32. The trade was a 12.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Yuen Wupen sold 4,716 shares of the company’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $76.87, for a total value of $362,518.92. Following the completion of the transaction, the insider now directly owns 82,957 shares of the company’s stock, valued at $6,376,904.59. The trade was a 5.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,298 shares of company stock worth $1,081,764 in the last three months. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

LITE has been the topic of several research analyst reports. Northland Securities set a $80.00 target price on shares of Lumentum in a research report on Wednesday, May 7th. Morgan Stanley lowered their price objective on shares of Lumentum from $83.00 to $81.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Raymond James cut their target price on Lumentum from $82.00 to $80.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, May 7th. JPMorgan Chase & Co. reduced their target price on Lumentum from $105.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Finally, Jefferies Financial Group initiated coverage on Lumentum in a research report on Friday, February 21st. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Lumentum has a consensus rating of “Moderate Buy” and an average price target of $82.20.

Lumentum Stock Performance

Shares of LITE stock opened at $77.11 on Wednesday. Lumentum Holdings Inc. has a 52-week low of $38.29 and a 52-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. The stock has a market cap of $5.35 billion, a PE ratio of -10.03 and a beta of 1.18. The business has a 50-day simple moving average of $62.23 and a 200-day simple moving average of $75.23.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.07. Lumentum had a negative return on equity of 7.25% and a negative net margin of 36.98%. The company had revenue of $425.20 million during the quarter, compared to analysts’ expectations of $418.18 million. During the same period last year, the business earned $0.09 earnings per share. Lumentum’s quarterly revenue was up 16.0% on a year-over-year basis. On average, equities analysts expect 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.