Lumentum Holdings Inc. (NASDAQ:LITE) Stock Position Reduced by Robeco Schweiz AG

Robeco Schweiz AG cut its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 50.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 417,000 shares of the technology company’s stock after selling 426,000 shares during the quarter. Robeco Schweiz AG owned approximately 0.61% of Lumentum worth $35,007,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Atreides Management LP increased its position in Lumentum by 28.5% in the 3rd quarter. Atreides Management LP now owns 1,691,017 shares of the technology company’s stock worth $107,177,000 after purchasing an additional 375,389 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Lumentum by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,186,163 shares of the technology company’s stock valued at $75,198,000 after buying an additional 15,799 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Lumentum by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 738,155 shares of the technology company’s stock worth $46,784,000 after buying an additional 37,109 shares during the last quarter. Pinnacle Associates Ltd. raised its position in Lumentum by 50.4% during the third quarter. Pinnacle Associates Ltd. now owns 407,789 shares of the technology company’s stock valued at $25,846,000 after acquiring an additional 136,659 shares in the last quarter. Finally, Emerald Advisers LLC lifted its stake in Lumentum by 29.1% in the third quarter. Emerald Advisers LLC now owns 378,535 shares of the technology company’s stock valued at $23,992,000 after acquiring an additional 85,353 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Lumentum Stock Up 3.0 %

Shares of LITE opened at $72.50 on Thursday. Lumentum Holdings Inc. has a 52 week low of $38.28 and a 52 week high of $104.00. The firm has a market capitalization of $5.02 billion, a P/E ratio of -9.43 and a beta of 0.94. The company has a 50-day simple moving average of $84.23 and a 200-day simple moving average of $74.31. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76.

Lumentum (NASDAQ:LITE) last announced 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%. On average, equities research analysts expect that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on LITE shares. Susquehanna raised their price target on shares of Lumentum from $80.00 to $115.00 and gave the company a “positive” rating in a report on Friday, November 8th. UBS Group boosted their price target 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 increased their price objective on Lumentum from $95.00 to $105.00 and gave the company a “buy” rating in a report on Friday, February 7th. Needham & Company LLC restated a “buy” rating and issued a $110.00 target price on shares of Lumentum in a report on Friday, February 7th. Finally, B. Riley increased their price target on Lumentum from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $88.07.

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.