Lumentum Holdings Inc. (NASDAQ:LITE) Position Lifted by Fisher Asset Management LLC

Fisher Asset Management LLC grew its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 18.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 687,311 shares of the technology company’s stock after acquiring an additional 108,740 shares during the period. Fisher Asset Management LLC owned about 1.00% of Lumentum worth $57,700,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Atom Investors LP acquired a new position in Lumentum in the third quarter worth about $4,127,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of Lumentum in the 4th quarter worth approximately $646,000. Two Sigma Advisers LP increased its holdings in shares of Lumentum by 24.7% in the 3rd quarter. Two Sigma Advisers LP now owns 186,600 shares of the technology company’s stock valued at $11,827,000 after acquiring an additional 37,000 shares during the last quarter. West Tower Group LLC bought a new stake in shares of Lumentum in the 3rd quarter valued at approximately $444,000. Finally, Zweig DiMenna Associates LLC acquired a new stake in shares of Lumentum during the 4th quarter valued at approximately $7,052,000. Institutional investors own 94.05% of the company’s stock.

Insider Buying and Selling

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

Lumentum Trading Up 1.0 %

NASDAQ:LITE opened at $70.33 on Friday. Lumentum Holdings Inc. has a 1 year low of $38.28 and a 1 year high of $104.00. The business has a fifty day moving average of $83.66 and a 200-day moving average of $74.65. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of -9.15 and a beta of 0.94.

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

Wall Street Analysts Forecast Growth

LITE has been the subject of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Lumentum in a report on Friday, February 7th. Jefferies Financial Group assumed coverage on shares of Lumentum in a report on Friday, February 21st. They issued a “buy” rating for the company. Morgan Stanley dropped their price objective on shares of Lumentum from $83.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Susquehanna lifted their target price on Lumentum from $80.00 to $115.00 and gave the company a “positive” rating in a research note on Friday, November 8th. Finally, UBS Group increased their price target on Lumentum from $93.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $88.07.

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.