Lumentum Holdings Inc. (NASDAQ:LITE) Shares Purchased by Leeward Investments LLC MA

Leeward Investments LLC MA boosted its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 28.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 360,129 shares of the technology company’s stock after acquiring an additional 79,814 shares during the period. Leeward Investments LLC MA owned 0.54% of Lumentum worth $18,878,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in Lumentum in the 3rd quarter valued at about $26,000. Ramirez Asset Management Inc. acquired a new stake in shares of Lumentum during the 3rd quarter worth about $32,000. Neo Ivy Capital Management acquired a new stake in shares of Lumentum during the 3rd quarter worth about $32,000. Whittier Trust Co. boosted its stake in shares of Lumentum by 697.7% during the 4th quarter. Whittier Trust Co. now owns 1,715 shares of the technology company’s stock worth $90,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Lumentum during the 3rd quarter worth about $180,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on LITE. B. Riley decreased their price target on shares of Lumentum from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Friday, February 9th. Rosenblatt Securities raised their price target on shares of Lumentum from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Stifel Nicolaus reaffirmed a “buy” rating and set a $62.00 price target on shares of Lumentum in a research note on Monday, April 1st. Susquehanna cut their price objective on shares of Lumentum from $65.00 to $60.00 and set a “positive” rating on the stock in a report on Friday, February 9th. Finally, Barclays increased their price objective on shares of Lumentum from $40.00 to $45.00 and gave the stock an “underweight” rating in a report on Tuesday, January 16th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $52.69.

Insider Activity

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

Lumentum Trading Up 3.4 %

NASDAQ LITE opened at $43.42 on Friday. Lumentum Holdings Inc. has a one year low of $35.35 and a one year high of $65.16. The company’s 50 day moving average price is $46.98 and its 200 day moving average price is $47.01. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.42 and a current ratio of 3.13. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of -11.02 and a beta of 1.09.

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