SBI Securities Co. Ltd. Makes New $739,000 Investment in Lumentum Holdings Inc. (NASDAQ:LITE)

SBI Securities Co. Ltd. purchased a new position in Lumentum Holdings Inc. (NASDAQ:LITE) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,804 shares of the technology company’s stock, valued at approximately $739,000.

Several other hedge funds also recently bought and sold shares of the company. Atreides Management LP increased its position in Lumentum by 28.5% during the third quarter. Atreides Management LP now owns 1,691,017 shares of the technology company’s stock worth $107,177,000 after buying an additional 375,389 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Lumentum by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,186,163 shares of the technology company’s stock worth $75,198,000 after purchasing an additional 15,799 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Lumentum by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 738,155 shares of the technology company’s stock valued at $46,784,000 after acquiring an additional 37,109 shares in the last quarter. Fisher Asset Management LLC lifted its position in Lumentum by 18.8% in the fourth quarter. Fisher Asset Management LLC now owns 687,311 shares of the technology company’s stock worth $57,700,000 after purchasing an additional 108,740 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in shares of Lumentum during the 3rd quarter worth about $17,981,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Wajid Ali sold 2,172 shares of Lumentum stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total transaction of $170,154.48. Following the completion of the sale, the chief financial officer now owns 51,976 shares of the company’s stock, valued at approximately $4,071,799.84. The trade was a 4.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LITE. Morgan Stanley lowered their price target on Lumentum from $83.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. UBS Group raised their price target on shares of Lumentum from $93.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Needham & Company LLC reissued a “buy” rating and set a $110.00 price objective on shares of Lumentum in a report on Friday, February 7th. Jefferies Financial Group began coverage on Lumentum in a research note on Friday, February 21st. They issued a “buy” rating on the stock. Finally, Northland Securities boosted their price objective on shares of Lumentum from $60.00 to $70.00 and gave the company a “market perform” rating in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Lumentum presently has an average rating of “Hold” and a consensus price target of $88.07.

Lumentum Stock Performance

Shares of LITE stock opened at $65.69 on Tuesday. 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 12 month low of $38.28 and a 12 month high of $104.00. The company’s fifty day simple moving average is $83.30 and its 200-day simple moving average is $74.95. The firm has a market cap of $4.55 billion, a PE ratio of -8.54 and a beta of 0.94.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative return on equity of 7.25% and a negative net margin of 36.98%. Equities research analysts expect that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal 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.