Baader Bank Aktiengesellschaft Acquires Shares of 3,596 Lumentum Holdings Inc. (NASDAQ:LITE)

Baader Bank Aktiengesellschaft bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 3,596 shares of the technology company’s stock, valued at approximately $301,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its stake in shares of Lumentum by 301.2% in the fourth 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 during the last quarter. Quarry LP increased its stake in shares of Lumentum by 85.5% in 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 in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Lumentum in the third quarter valued at about $33,000. Nomura Asset Management Co. Ltd. lifted its position in Lumentum by 67.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company’s stock worth $42,000 after buying an additional 270 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new stake in Lumentum during the 2nd quarter worth about $36,000. 94.05% of the stock is owned by institutional investors.

Lumentum Trading Up 7.8 %

LITE opened at $83.98 on Friday. The firm’s fifty day simple moving average is $87.56 and its 200 day simple moving average is $70.21. Lumentum Holdings Inc. has a 12 month low of $38.28 and a 12 month high of $104.00. The stock has a market capitalization of $5.77 billion, a P/E ratio of -10.14 and a beta of 0.94. The company has a current ratio of 5.36, a quick ratio of 4.04 and a debt-to-equity ratio of 2.87.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.48). The business had revenue of $336.90 million during the quarter, compared to the consensus estimate of $326.94 million. Lumentum had a negative return on equity of 6.79% and a negative net margin of 40.70%. During the same period in the prior year, the firm earned ($0.10) EPS. As a group, research analysts anticipate that Lumentum Holdings Inc. will post -0.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LITE has been the topic of several research analyst reports. Raymond James increased their price target on shares of Lumentum from $70.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Barclays raised Lumentum from an “underweight” rating to an “overweight” rating and lifted their price objective for the stock from $80.00 to $125.00 in a research note on Friday, January 17th. Needham & Company LLC restated a “buy” rating and set a $110.00 target price on shares of Lumentum in a research report on Thursday, January 9th. Northland Securities lifted their price objective on shares of Lumentum from $45.00 to $60.00 and gave the stock a “market perform” rating in a research note on Friday, November 8th. Finally, Rosenblatt Securities upped their target price on shares of Lumentum from $69.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Lumentum has an average rating of “Moderate Buy” and an average price target of $81.92.

Insider Transactions at Lumentum

In related news, CFO Wajid Ali sold 29,887 shares of Lumentum stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $85.06, for a total transaction of $2,542,188.22. Following the completion of the transaction, the chief financial officer now owns 56,492 shares in the company, valued at approximately $4,805,209.52. This trade represents a 34.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Vincent Retort sold 41,710 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 147,515 shares in the company, valued at $13,205,542.80. This represents a 22.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,797 shares of company stock worth $8,881,428 in the last three months. Insiders own 0.19% 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.