Baader Bank Aktiengesellschaft Makes New $301,000 Investment in Lumentum Holdings Inc. (NASDAQ:LITE)

Baader Bank Aktiengesellschaft acquired a new position in Lumentum Holdings Inc. (NASDAQ:LITE) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 3,596 shares of the technology company’s stock, valued at approximately $301,000.

A number of other institutional investors have also recently bought and sold shares of the business. Quarry LP raised 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 valued at $28,000 after buying an additional 201 shares in the last quarter. UMB Bank n.a. increased its stake 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 acquiring an additional 253 shares during the period. Capital Performance Advisors LLP acquired a new position in Lumentum in the 3rd quarter valued at $33,000. Point72 DIFC Ltd bought a new stake in shares of Lumentum during the 2nd quarter valued at $36,000. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Lumentum by 67.5% during 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 in the last quarter. Institutional investors own 94.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LITE. Barclays raised Lumentum from an “underweight” rating to an “overweight” rating and boosted their price target for the company from $80.00 to $125.00 in a research note on Friday, January 17th. Northland Securities upped their price target on shares of Lumentum from $45.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, November 8th. Rosenblatt Securities increased their price target on shares of Lumentum from $69.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and set a $110.00 price objective on shares of Lumentum in a research report on Thursday, January 9th. Finally, Susquehanna lifted their price target on Lumentum from $80.00 to $115.00 and gave the company a “positive” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.92.

Lumentum Price Performance

Lumentum stock opened at $83.98 on Friday. The company has a market capitalization of $5.77 billion, a PE ratio of -10.14 and a beta of 0.94. The company has a current ratio of 5.36, a quick ratio of 4.04 and a debt-to-equity ratio of 2.87. The stock has a 50-day moving average price of $87.56 and a two-hundred day moving average price of $70.21. Lumentum Holdings Inc. has a 12 month low of $38.28 and a 12 month high of $104.00.

Lumentum (NASDAQ:LITE) last posted its earnings results on Thursday, November 7th. The technology company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.48). The business had revenue of $336.90 million for the quarter, compared to the consensus estimate of $326.94 million. Lumentum had a negative return on equity of 6.79% and a negative net margin of 40.70%. During the same period in the previous year, the firm earned ($0.10) earnings per share. Analysts expect that Lumentum Holdings Inc. will post -0.02 EPS for the current year.

Insider Activity at Lumentum

In related news, Director Harold L. Covert sold 15,000 shares of Lumentum stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $87.17, for a total transaction of $1,307,550.00. Following the completion of the transaction, the director now owns 8,761 shares of the company’s stock, valued at $763,696.37. This trade represents a 63.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vincent Retort sold 41,710 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $89.52, for a total transaction of $3,733,879.20. Following the sale, the insider now directly owns 147,515 shares in the company, valued at $13,205,542.80. This trade represents a 22.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,797 shares of company stock worth $8,881,428 over the last three months. Company insiders own 0.19% of the company’s stock.

About Lumentum

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.