Hanseatic Management Services Inc. Purchases Shares of 13,882 Lumentum Holdings Inc. (NASDAQ:LITE)

Hanseatic Management Services Inc. acquired a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the 4th quarter, Holdings Channel.com reports. The fund acquired 13,882 shares of the technology company’s stock, valued at approximately $1,165,000. Lumentum comprises approximately 1.5% of Hanseatic Management Services Inc.’s portfolio, making the stock its 23rd biggest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Signaturefd LLC increased its holdings in Lumentum by 13.8% during the 3rd quarter. Signaturefd LLC now owns 1,302 shares of the technology company’s stock worth $83,000 after purchasing an additional 158 shares in the last quarter. Synovus Financial Corp boosted its position in shares of Lumentum by 1.5% during the third quarter. Synovus Financial Corp now owns 13,225 shares of the technology company’s stock worth $838,000 after buying an additional 200 shares during the period. Quarry LP grew its holdings in shares of Lumentum by 85.5% during the third quarter. Quarry LP now owns 436 shares of the technology company’s stock worth $28,000 after buying an additional 201 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in Lumentum by 67.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company’s stock valued at $42,000 after buying an additional 270 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Lumentum by 33.3% in the 4th quarter. GAMMA Investing LLC now owns 1,192 shares of the technology company’s stock valued at $100,000 after acquiring an additional 298 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Matthew Joseph Sepe sold 8,172 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $87.60, for a total transaction of $715,867.20. Following the sale, the chief accounting officer now owns 21,138 shares of the company’s stock, valued at $1,851,688.80. This represents a 27.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Vincent Retort sold 41,710 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.52, for a total value of $3,733,879.20. Following the completion of the transaction, the insider now owns 147,515 shares in the company, valued at $13,205,542.80. The trade was a 22.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,797 shares of company stock valued at $8,881,428 over the last ninety days. 0.19% of the stock is currently owned by company insiders.

Lumentum Stock Performance

NASDAQ:LITE opened at $94.41 on Friday. The company has a debt-to-equity ratio of 2.87, a quick ratio of 4.04 and a current ratio of 5.36. Lumentum Holdings Inc. has a 12-month low of $38.28 and a 12-month high of $96.25. The stock’s 50 day moving average price is $86.72 and its two-hundred day moving average price is $68.24.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LITE shares. Morgan Stanley raised their price target on shares of Lumentum from $76.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Northland Securities lifted their price target on shares of Lumentum from $45.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, November 8th. Susquehanna boosted their price target on shares of Lumentum from $80.00 to $115.00 and gave the stock a “positive” rating in a research report on Friday, November 8th. Raymond James raised their price objective on Lumentum from $70.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $110.00 target price on shares of Lumentum in a report on Thursday, January 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.92.

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.