Lumentum Holdings Inc. (NASDAQ:LITE) Shares Sold by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt trimmed its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 66.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Lumentum during the 4th quarter worth approximately $5,504,000. Phocas Financial Corp. acquired a new position in Lumentum in the 4th quarter valued at $3,684,000. Louisiana State Employees Retirement System acquired a new stake in shares of Lumentum in the 4th quarter worth $985,000. International Assets Investment Management LLC purchased a new stake in shares of Lumentum in the fourth quarter valued at about $1,379,000. Finally, Oak Thistle LLC acquired a new position in shares of Lumentum during the fourth quarter worth about $374,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Lumentum Stock Up 1.1 %

Shares of NASDAQ LITE opened at $42.44 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 3.13 and a quick ratio of 2.42. The firm has a fifty day moving average of $47.73 and a 200-day moving average of $47.06. Lumentum Holdings Inc. has a 52-week low of $35.35 and a 52-week high of $65.16.

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

Insider Activity at Lumentum

In other Lumentum news, CAO Matthew Joseph Sepe sold 9,903 shares of the business’s stock in a transaction that occurred 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 SEC, which is available through this link. 0.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

LITE has been the subject of several analyst reports. Susquehanna reduced their price objective on shares of Lumentum from $65.00 to $60.00 and set a “positive” rating for the company in a research report on Friday, February 9th. Raymond James increased their price target on shares of Lumentum from $51.50 to $58.00 and gave the company an “outperform” rating in a report on Monday, April 1st. Craig Hallum raised Lumentum from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. JPMorgan Chase & Co. lowered their target price on Lumentum from $62.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, April 11th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $62.00 price target on shares of Lumentum in a research note on Monday, April 1st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $52.69.

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.