Bank Julius Baer & Co. Ltd Zurich Takes $1.39 Million Position in Lumentum Holdings Inc. (NASDAQ:LITE)

Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 26,506 shares of the technology company’s stock, valued at approximately $1,389,000.

Other hedge funds also recently made changes to their positions in the company. State of New Jersey Common Pension Fund D lifted its holdings in Lumentum by 30.6% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 59,161 shares of the technology company’s stock valued at $3,101,000 after acquiring an additional 13,871 shares during the period. CloudAlpha Capital Management Limited Hong Kong bought a new position in Lumentum in the fourth quarter valued at about $5,504,000. Phocas Financial Corp. bought a new position in Lumentum in the fourth quarter valued at about $3,684,000. Louisiana State Employees Retirement System bought a new position in Lumentum in the fourth quarter valued at about $985,000. Finally, International Assets Investment Management LLC bought a new position in Lumentum in the fourth quarter valued at about $1,379,000. 94.05% of the stock is currently owned by institutional investors.

Insider Transactions at Lumentum

In other news, CAO Matthew Joseph Sepe sold 9,903 shares of Lumentum stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $49.23, for a total value of $487,524.69. Following the completion of the transaction, the chief accounting officer now owns 33,188 shares in the company, valued at approximately $1,633,845.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.60% of the company’s stock.

Lumentum Stock Performance

NASDAQ LITE opened at $43.42 on Friday. The stock has a market capitalization of $2.93 billion, a PE ratio of -11.02 and a beta of 1.09. The company has a debt-to-equity ratio of 1.96, a current ratio of 3.13 and a quick ratio of 2.42. The business has a 50 day simple moving average of $46.98 and a two-hundred day simple moving average of $47.01. Lumentum Holdings Inc. has a 1-year low of $35.35 and a 1-year high of $65.16.

Lumentum (NASDAQ:LITE) last announced its earnings results on Thursday, February 8th. The technology company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.07). The company had revenue of $366.80 million during the quarter, compared to analysts’ expectations of $363.44 million. Lumentum had a positive return on equity of 1.04% and a negative net margin of 18.52%. On average, research analysts predict that Lumentum Holdings Inc. will post -0.64 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on LITE. Rosenblatt Securities raised their price objective on Lumentum from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Barclays raised their price objective on Lumentum from $40.00 to $45.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 16th. Susquehanna decreased their price objective on Lumentum from $65.00 to $60.00 and set a “positive” rating on the stock in a research note on Friday, February 9th. B. Riley decreased their price objective on Lumentum from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Friday, February 9th. Finally, Raymond James raised their price objective on Lumentum from $51.50 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. Three analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $52.69.

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.