Fisher Asset Management LLC Has $57.70 Million Stock Holdings in Lumentum Holdings Inc. (NASDAQ:LITE)

Fisher Asset Management LLC grew its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 18.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 687,311 shares of the technology company’s stock after purchasing an additional 108,740 shares during the period. Fisher Asset Management LLC’s holdings in Lumentum were worth $57,700,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. boosted its holdings in shares of Lumentum by 301.2% in the fourth quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock worth $28,000 after buying an additional 253 shares during the period. Quarry LP increased its position in shares of Lumentum by 85.5% in the third quarter. Quarry LP now owns 436 shares of the technology company’s stock worth $28,000 after acquiring an additional 201 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Lumentum in the 3rd quarter valued at approximately $33,000. Nomura Asset Management Co. Ltd. boosted its stake in Lumentum by 67.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company’s stock worth $42,000 after purchasing an additional 270 shares during the period. Finally, Manchester Capital Management LLC grew its position in Lumentum by 22.6% during the 4th quarter. Manchester Capital Management LLC now owns 1,029 shares of the technology company’s stock worth $86,000 after purchasing an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Susquehanna increased their target price on Lumentum from $80.00 to $115.00 and gave the company a “positive” rating in a report on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $110.00 price target on shares of Lumentum in a research report on Friday, February 7th. UBS Group raised their price objective on Lumentum from $93.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Stifel Nicolaus upped their target price on Lumentum from $95.00 to $105.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, Rosenblatt Securities restated a “buy” rating and set a $110.00 price target on shares of Lumentum in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Lumentum presently has a consensus rating of “Hold” and an average price target of $88.07.

Insider Buying and Selling

In related news, CFO Wajid Ali sold 2,172 shares of Lumentum stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total value of $170,154.48. Following the transaction, the chief financial officer now owns 51,976 shares in the company, valued at $4,071,799.84. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.19% of the company’s stock.

Lumentum Stock Up 1.0 %

LITE stock opened at $70.33 on Friday. The firm has a market cap of $4.87 billion, a PE ratio of -9.15 and a beta of 0.94. Lumentum Holdings Inc. has a 1 year low of $38.28 and a 1 year high of $104.00. The company has a fifty day simple moving average of $83.66 and a 200 day simple moving average of $74.65. The company has a current ratio of 4.76, a quick ratio of 3.60 and a debt-to-equity ratio of 2.94.

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

Lumentum 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.