Lumentum Holdings Inc. (NASDAQ:LITE) Stock Position Lifted by Aigen Investment Management LP

Aigen Investment Management LP grew its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 72.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,440 shares of the technology company’s stock after buying an additional 7,354 shares during the quarter. Aigen Investment Management LP’s holdings in Lumentum were worth $1,464,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. UMB Bank n.a. lifted its holdings in Lumentum by 301.2% during the 4th 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 last quarter. Jones Financial Companies Lllp lifted its holdings in Lumentum by 54.2% during the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock worth $31,000 after buying an additional 130 shares during the last quarter. Quarry LP lifted its holdings in Lumentum by 85.5% during the 3rd quarter. Quarry LP now owns 436 shares of the technology company’s stock worth $28,000 after buying an additional 201 shares during the last quarter. J.Safra Asset Management Corp lifted its holdings in shares of Lumentum by 31.1% in the 4th quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company’s stock worth $43,000 after purchasing an additional 122 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of Lumentum in the 3rd quarter worth approximately $33,000. Institutional investors own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. UBS Group raised their price target on Lumentum from $93.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Rosenblatt Securities reissued a “buy” rating and issued a $110.00 price target on shares of Lumentum in a report on Friday, February 7th. Morgan Stanley cut their price target on Lumentum from $83.00 to $81.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Jefferies Financial Group assumed coverage on Lumentum in a report on Friday, February 21st. They issued a “buy” rating on the stock. Finally, Northland Securities raised their price target on Lumentum from $60.00 to $70.00 and gave the stock a “market perform” rating in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $88.07.

Lumentum Stock Up 3.5 %

Shares of Lumentum stock opened at $67.34 on Thursday. Lumentum Holdings Inc. has a 1-year low of $38.29 and a 1-year high of $104.00. The company has a debt-to-equity ratio of 2.94, a current ratio of 4.76 and a quick ratio of 3.60. The business’s fifty day moving average price is $82.92 and its two-hundred day moving average price is $75.04. The company has a market capitalization of $4.66 billion, a P/E ratio of -8.76 and a beta of 1.03.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) EPS 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%. As a group, research analysts forecast that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Insider Transactions at Lumentum

In other news, CFO Wajid Ali sold 2,172 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total value of $170,154.48. Following the sale, the chief financial officer now owns 51,976 shares of the company’s stock, valued at approximately $4,071,799.84. The trade was a 4.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

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.