Lumentum Holdings Inc. (NASDAQ:LITE) Stock Holdings Lifted by JB Capital LLC

JB Capital LLC grew its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 5.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 32,630 shares of the technology company’s stock after acquiring an additional 1,561 shares during the period. JB Capital LLC’s holdings in Lumentum were worth $2,068,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Emerald Advisers LLC raised its stake in shares of Lumentum by 29.1% in the 3rd quarter. Emerald Advisers LLC now owns 378,535 shares of the technology company’s stock valued at $23,992,000 after acquiring an additional 85,353 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Lumentum by 7.7% during the third quarter. Janney Montgomery Scott LLC now owns 18,150 shares of the technology company’s stock valued at $1,150,000 after acquiring an additional 1,296 shares during the period. Emerald Mutual Fund Advisers Trust boosted its holdings in Lumentum by 19.3% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 281,331 shares of the technology company’s stock valued at $17,831,000 after acquiring an additional 45,606 shares during the period. Pinnacle Associates Ltd. increased its stake in shares of Lumentum by 50.4% in the third quarter. Pinnacle Associates Ltd. now owns 407,789 shares of the technology company’s stock worth $25,846,000 after purchasing an additional 136,659 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in shares of Lumentum by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 7,848 shares of the technology company’s stock worth $497,000 after purchasing an additional 535 shares during the period. Institutional investors own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LITE. Northland Securities raised their target price on Lumentum from $40.00 to $45.00 and gave the company a “market perform” rating in a report on Friday, August 16th. JPMorgan Chase & Co. boosted their target price on shares of Lumentum from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Barclays raised their price target on shares of Lumentum from $38.00 to $40.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. Raymond James upped their price objective on shares of Lumentum from $55.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, Susquehanna lifted their target price on Lumentum from $70.00 to $80.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. Three investment 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $60.77.

Lumentum Price Performance

NASDAQ:LITE traded up $1.02 during trading hours on Thursday, reaching $72.99. The company had a trading volume of 211,883 shares, compared to its average volume of 1,419,129. The company has a quick ratio of 4.43, a current ratio of 5.90 and a debt-to-equity ratio of 2.61. The stock has a 50-day moving average of $62.39 and a two-hundred day moving average of $53.47. Lumentum Holdings Inc. has a one year low of $38.28 and a one year high of $73.70. The firm has a market capitalization of $5.01 billion, a PE ratio of -8.90, a PEG ratio of 5.48 and a beta of 0.88.

Lumentum (NASDAQ:LITE) last announced its earnings results on Wednesday, August 14th. The technology company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. Lumentum had a negative net margin of 40.21% and a negative return on equity of 4.79%. The business had revenue of $308.30 million during the quarter, compared to analysts’ expectations of $301.36 million. During the same quarter last year, the company posted $0.12 EPS. The firm’s revenue for the quarter was down 16.9% on a year-over-year basis. Analysts forecast that Lumentum Holdings Inc. will post 0.2 earnings per share for the current year.

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.