Livforsakringsbolaget Skandia Omsesidigt Sells 7,400 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Livforsakringsbolaget Skandia Omsesidigt lessened its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 66.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,800 shares of the technology company’s stock after selling 7,400 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Lumentum were worth $199,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. HighTower Advisors LLC raised its stake in Lumentum by 6.7% during the first quarter. HighTower Advisors LLC now owns 5,729 shares of the technology company’s stock valued at $557,000 after purchasing an additional 358 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Lumentum by 23.3% during the 1st quarter. Private Advisor Group LLC now owns 5,083 shares of the technology company’s stock valued at $496,000 after purchasing an additional 960 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Lumentum by 10.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,461 shares of the technology company’s stock valued at $2,583,000 after purchasing an additional 2,490 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in Lumentum by 7.4% in the first quarter. Great West Life Assurance Co. Can now owns 39,147 shares of the technology company’s stock worth $3,926,000 after buying an additional 2,686 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Lumentum by 7.2% during the first quarter. Dimensional Fund Advisors LP now owns 805,662 shares of the technology company’s stock worth $78,633,000 after buying an additional 53,978 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on LITE shares. B. Riley reduced their target price on shares of Lumentum from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Friday, February 9th. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Lumentum in a research report on Friday, February 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $62.00 price target on shares of Lumentum in a report on Monday, April 1st. JPMorgan Chase & Co. dropped their price objective on Lumentum from $62.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. Finally, Rosenblatt Securities lifted their target price on Lumentum from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Lumentum currently has a consensus rating of “Hold” and an average price target of $52.69.

Lumentum Stock Up 1.1 %

Shares of Lumentum stock opened at $42.44 on Friday. The company has a 50-day simple moving average of $47.73 and a two-hundred day simple moving average of $47.06. The company has a current ratio of 3.13, a quick ratio of 2.42 and a debt-to-equity ratio of 1.96. Lumentum Holdings Inc. has a one year low of $35.35 and a one year high of $65.16.

Lumentum (NASDAQ:LITE) last announced its earnings results on Thursday, February 8th. The technology company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.07). Lumentum had a negative net margin of 18.52% and a positive return on equity of 1.04%. The firm had revenue of $366.80 million during the quarter, compared to analyst estimates of $363.44 million. On average, equities research analysts forecast that Lumentum Holdings Inc. will post -0.61 earnings per share for the current fiscal year.

Insider Transactions at Lumentum

In other news, CAO Matthew Joseph Sepe sold 9,903 shares of Lumentum stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $49.23, for a total transaction of $487,524.69. Following the completion of the sale, the chief accounting officer now directly owns 33,188 shares in the company, valued at $1,633,845.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.60% of the company’s stock.

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.