Ardsley Advisory Partners lessened its stake in shares of Lumentum Holdings Inc (NASDAQ:LITE) by 41.1% during the fourth quarter, HoldingsChannel reports. The firm owned 84,000 shares of the technology company’s stock after selling 58,500 shares during the period. Ardsley Advisory Partners’ holdings in Lumentum were worth $4,108,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. SeaCrest Wealth Management LLC acquired a new stake in shares of Lumentum in the 4th quarter worth about $128,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Lumentum by 42.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,797 shares of the technology company’s stock worth $186,000 after acquiring an additional 1,135 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Lumentum in the 3rd quarter worth about $234,000. First Allied Advisory Services Inc. acquired a new stake in shares of Lumentum in the 3rd quarter worth about $237,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of Lumentum in the 4th quarter worth about $236,000.

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Shares of Lumentum Holdings Inc (LITE) opened at $68.98 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.84 and a quick ratio of 4.16. The company has a market cap of $4,300.00 and a PE ratio of 25.17. Lumentum Holdings Inc has a one year low of $40.35 and a one year high of $69.25.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.67. The firm had revenue of $404.60 million during the quarter, compared to analyst estimates of $357.03 million. Lumentum had a net margin of 8.97% and a return on equity of 24.06%. The company’s revenue for the quarter was up 52.7% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS. equities research analysts forecast that Lumentum Holdings Inc will post 2.85 earnings per share for the current year.

In other Lumentum news, Director Harold L. Covert sold 7,564 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $56.58, for a total value of $427,971.12. Following the completion of the sale, the director now owns 22,628 shares in the company, valued at approximately $1,280,292.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jason Reinhardt sold 9,308 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $56.82, for a total transaction of $528,880.56. Following the sale, the executive vice president now owns 59,635 shares of the company’s stock, valued at approximately $3,388,460.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,039 shares of company stock valued at $2,798,935. Company insiders own 0.76% of the company’s stock.

A number of research firms recently weighed in on LITE. Morgan Stanley set a $60.00 target price on shares of Lumentum and gave the stock a “hold” rating in a report on Friday. BidaskClub upgraded shares of Lumentum from a “hold” rating to a “buy” rating in a report on Thursday, February 22nd. TheStreet upgraded shares of Lumentum from a “c” rating to a “b-” rating in a report on Wednesday, February 7th. B. Riley restated a “buy” rating and issued a $85.00 target price (up previously from $81.00) on shares of Lumentum in a report on Wednesday, February 7th. Finally, Northland Securities restated a “buy” rating and issued a $82.00 target price on shares of Lumentum in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have issued a buy rating to the company. Lumentum has an average rating of “Buy” and an average price target of $73.19.

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About Lumentum

Lumentum Holdings Inc is a provider of optical and photonic products for a range of end market applications, including data communications (Datacom) and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Company operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers).

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Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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