5,251 Shares in Lumentum Holdings Inc. (NASDAQ:LITE) Purchased by Ethic Inc.

Ethic Inc. acquired a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the 4th quarter, Holdings Channel.com reports. The firm acquired 5,251 shares of the technology company’s stock, valued at approximately $441,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. UMB Bank n.a. boosted its stake 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 purchasing an additional 253 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Lumentum by 54.2% in the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock valued at $31,000 after purchasing an additional 130 shares in the last quarter. CoreCap Advisors LLC boosted its stake 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 purchasing an additional 380 shares in the last quarter. 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 purchasing an additional 122 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake 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 valued at $64,000 after purchasing an additional 164 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LITE. Stifel Nicolaus raised their price target 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. Barclays set a $75.00 target price on shares of Lumentum and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Morgan Stanley cut their target price 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 cut their target price on shares of Lumentum from $82.00 to $80.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, May 7th. Finally, BNP Paribas upgraded shares of Lumentum from a “neutral” rating to an “outperform” rating and set a $92.00 target price on the stock in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $82.20.

Lumentum Stock Down 0.7%

Lumentum stock opened at $77.76 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 52-week low of $38.29 and a 52-week high of $104.00. The firm has a 50 day moving average price of $61.30 and a two-hundred day moving average price of $74.90. The firm has a market cap of $5.40 billion, a price-to-earnings ratio of -10.11 and a beta of 1.18.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.57 earnings per share (EPS) 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 firm had revenue of $425.20 million during the quarter, compared to analyst estimates of $418.18 million. During the same quarter last year, the business earned $0.09 EPS. The company’s revenue was up 16.0% compared to the same quarter last year. Equities analysts predict that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Insider Activity

In other 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 completion of the sale, the chief financial officer now owns 51,976 shares in the company, valued at $4,071,799.84. The trade was a 4.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Yuen Wupen sold 4,716 shares of Lumentum stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $76.87, for a total transaction of $362,518.92. Following the completion of the sale, the insider now owns 82,957 shares of the company’s stock, valued at $6,376,904.59. This represents a 5.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,314 shares of company stock worth $850,460 in the last quarter. 0.19% of the stock is owned by corporate insiders.

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.