Emerald Advisers LLC Reduces Position in Lumentum Holdings Inc. (NASDAQ:LITE)

Emerald Advisers LLC decreased its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 1.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 293,182 shares of the technology company’s stock after selling 4,621 shares during the period. Emerald Advisers LLC owned approximately 0.43% of Lumentum worth $14,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CENTRAL TRUST Co increased its holdings in shares of Lumentum by 714.3% in the first quarter. CENTRAL TRUST Co now owns 1,140 shares of the technology company’s stock valued at $54,000 after purchasing an additional 1,000 shares during the period. Principal Securities Inc. acquired a new position in Lumentum in the 4th quarter worth approximately $55,000. Signaturefd LLC raised its position in Lumentum by 93.9% during the 2nd quarter. Signaturefd LLC now owns 1,144 shares of the technology company’s stock worth $58,000 after buying an additional 554 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in Lumentum during the 1st quarter valued at approximately $112,000. Finally, nVerses Capital LLC boosted its holdings in shares of Lumentum by 416.7% in the 2nd quarter. nVerses Capital LLC now owns 3,100 shares of the technology company’s stock valued at $158,000 after acquiring an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LITE. Craig Hallum boosted their target price on shares of Lumentum from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Northland Securities raised their target price on Lumentum from $40.00 to $45.00 and gave the stock a “market perform” rating in a report on Friday, August 16th. B. Riley boosted their price target on Lumentum from $40.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Rosenblatt Securities raised their price objective on shares of Lumentum from $65.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Bank of America boosted their target price on shares of Lumentum from $45.00 to $50.00 and gave the company an “underperform” rating in a research note on Thursday, August 15th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $59.08.

Lumentum Stock Down 5.4 %

LITE opened at $52.11 on Friday. The company has a market cap of $3.52 billion, a PE ratio of -9.93, a price-to-earnings-growth ratio of 4.55 and a beta of 0.88. Lumentum Holdings Inc. has a twelve month low of $35.35 and a twelve month high of $60.99. The company has a 50-day moving average price of $52.76 and a 200 day moving average price of $48.58. The company has a quick ratio of 4.43, a current ratio of 5.90 and a debt-to-equity ratio of 2.61.

Lumentum (NASDAQ:LITE) last announced its earnings results on Wednesday, August 14th. The technology company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. Lumentum had a negative return on equity of 4.79% and a negative net margin of 40.21%. The business had revenue of $308.30 million during the quarter, compared to analysts’ expectations of $301.36 million. During the same quarter in the prior year, the firm earned $0.12 earnings per share. The business’s revenue was down 16.9% compared to the same quarter last year. Sell-side analysts expect that Lumentum Holdings Inc. will post 0.22 earnings per share for the current fiscal year.

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.