Lumentum Holdings Inc. (NASDAQ:LITE) Shares Purchased by Aigen Investment Management LP

Aigen Investment Management LP boosted its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 72.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,440 shares of the technology company’s stock after purchasing an additional 7,354 shares during the quarter. Aigen Investment Management LP’s holdings in Lumentum were worth $1,464,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of LITE. Quarry LP boosted its position in Lumentum by 85.5% during the third quarter. Quarry LP now owns 436 shares of the technology company’s stock worth $28,000 after purchasing an additional 201 shares in the last quarter. UMB Bank n.a. boosted its position in Lumentum by 301.2% during the fourth quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock worth $28,000 after purchasing an additional 253 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Lumentum by 54.2% in the fourth quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock valued at $31,000 after acquiring an additional 130 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Lumentum in the third quarter valued at $33,000. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Lumentum by 67.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company’s stock valued at $42,000 after acquiring an additional 270 shares in the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LITE. B. Riley upped their price objective on Lumentum from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. UBS Group upped their price objective on Lumentum from $93.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Rosenblatt Securities restated a “buy” rating and issued a $110.00 price objective on shares of Lumentum in a research report on Friday, February 7th. Susquehanna increased their target price on Lumentum from $80.00 to $115.00 and gave the stock a “positive” rating in a research report on Friday, November 8th. Finally, Northland Securities increased their target price on Lumentum from $60.00 to $70.00 and gave the stock a “market perform” rating in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $88.07.

Insider Activity

In related news, CFO Wajid Ali sold 2,172 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total value 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 approximately $4,071,799.84. This represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.19% of the company’s stock.

Lumentum Stock Performance

Shares of NASDAQ:LITE opened at $67.34 on Thursday. The firm has a market capitalization of $4.66 billion, a PE ratio of -8.76 and a beta of 1.03. The company has a debt-to-equity ratio of 2.94, a current ratio of 4.76 and a quick ratio of 3.60. The business has a 50-day moving average of $82.92 and a two-hundred day moving average of $75.04. Lumentum Holdings Inc. has a 12 month low of $38.29 and a 12 month high of $104.00.

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