Schroder Investment Management Group Has $86.64 Million Stock Position in Lumentum Holdings Inc. (NASDAQ:LITE)

Schroder Investment Management Group cut its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 36.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,033,344 shares of the technology company’s stock after selling 602,064 shares during the quarter. Schroder Investment Management Group’s holdings in Lumentum were worth $86,636,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. J.Safra Asset Management Corp grew its stake 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 valued at $43,000 after buying an additional 122 shares during the period. Jones Financial Companies Lllp increased its stake in Lumentum by 54.2% during the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock valued at $31,000 after purchasing an additional 130 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of Lumentum by 4.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 4,350 shares of the technology company’s stock valued at $365,000 after buying an additional 168 shares in the last quarter. Manchester Capital Management LLC increased its position in shares of Lumentum by 22.6% during the fourth quarter. Manchester Capital Management LLC now owns 1,029 shares of the technology company’s stock worth $86,000 after acquiring an additional 190 shares in the last quarter. Finally, Synovus Financial Corp raised its holdings in shares of Lumentum by 1.5% in the 3rd quarter. Synovus Financial Corp now owns 13,225 shares of the technology company’s stock worth $838,000 after acquiring an additional 200 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on LITE. Barclays upgraded Lumentum from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $80.00 to $125.00 in a research note on Friday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $110.00 target price on shares of Lumentum in a report on Friday, February 7th. UBS Group boosted 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. B. Riley raised their target price on Lumentum from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Finally, Raymond James upgraded shares of Lumentum from an “outperform” rating to a “strong-buy” rating and reduced their price target for the company from $96.00 to $82.00 in a research report on Monday, March 24th. Two analysts have rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $87.40.

Lumentum Stock Down 2.2 %

LITE opened at $62.58 on Monday. Lumentum Holdings Inc. has a 12 month low of $38.29 and a 12 month high of $104.00. The company has a market cap of $4.33 billion, a PE ratio of -8.14 and a beta of 1.03. The company has a current ratio of 4.76, a quick ratio of 3.60 and a debt-to-equity ratio of 2.94. The company has a 50 day moving average of $75.28 and a 200 day moving average of $76.29.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share (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%. On average, sell-side analysts expect that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Insider Activity

In related news, CFO Wajid Ali sold 2,172 shares of Lumentum stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total transaction of $170,154.48. Following the completion of the sale, the chief financial officer now owns 51,976 shares of the company’s stock, valued at approximately $4,071,799.84. This trade represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is owned by company insiders.

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.