Lightrock Netherlands B.V. Takes Position in Lumentum Holdings Inc. (NASDAQ:LITE)

Lightrock Netherlands B.V. acquired a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 150,156 shares of the technology company’s stock, valued at approximately $12,668,000. Lumentum makes up about 4.4% of Lightrock Netherlands B.V.’s investment portfolio, making the stock its 4th largest position. Lightrock Netherlands B.V. owned 0.22% of Lumentum as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Quarry LP boosted its stake in Lumentum by 85.5% during the third quarter. Quarry LP now owns 436 shares of the technology company’s stock valued at $28,000 after buying an additional 201 shares during the period. UMB Bank n.a. raised its holdings in shares of Lumentum by 301.2% in the 4th quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock valued at $28,000 after acquiring an additional 253 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Lumentum during the 3rd quarter valued at about $33,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of Lumentum by 67.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company’s stock worth $42,000 after purchasing an additional 270 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Lumentum by 141.6% in the third quarter. GAMMA Investing LLC now owns 894 shares of the technology company’s stock worth $57,000 after purchasing an additional 524 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Lumentum Trading Down 4.6 %

Shares of LITE stock opened at $81.93 on Tuesday. The company has a current ratio of 5.36, a quick ratio of 4.04 and a debt-to-equity ratio of 2.87. The stock has a fifty day simple moving average of $87.59 and a two-hundred day simple moving average of $71.95. Lumentum Holdings Inc. has a 52-week low of $38.28 and a 52-week high of $104.00.

Lumentum (NASDAQ:LITE) last released its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative return on equity of 7.00% and a negative net margin of 36.98%. As a group, analysts forecast that Lumentum Holdings Inc. will post -0.04 earnings per share for the current fiscal year.

Insider Activity

In other Lumentum news, insider Vincent Retort sold 41,710 shares of Lumentum stock in a transaction on Monday, November 25th. The shares were sold at an average price of $89.52, for a total value of $3,733,879.20. Following the sale, the insider now directly owns 147,515 shares in the company, valued at approximately $13,205,542.80. The trade was a 22.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Harold L. Covert sold 3,345 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $81.78, for a total transaction of $273,554.10. Following the completion of the sale, the director now owns 8,729 shares in the company, valued at approximately $713,857.62. The trade was a 27.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,797 shares of company stock worth $7,573,878 over the last quarter. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Lumentum from $83.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Raymond James lifted their price target on Lumentum from $94.00 to $96.00 and gave the stock an “outperform” rating in a research note on Friday. UBS Group upped their price objective on Lumentum from $93.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday. B. Riley raised their price objective on Lumentum from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Friday. Finally, Barclays upgraded shares of Lumentum from an “underweight” rating to an “overweight” rating and increased their price target for the company from $80.00 to $125.00 in a research report on Friday, January 17th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $88.07.

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.