SBI Securities Co. Ltd. Makes New $739,000 Investment in Lumentum Holdings Inc. (NASDAQ:LITE)

SBI Securities Co. Ltd. bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) in the fourth quarter, HoldingsChannel.com reports. The firm bought 8,804 shares of the technology company’s stock, valued at approximately $739,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP boosted its holdings in Lumentum by 85.5% in the 3rd quarter. Quarry LP now owns 436 shares of the technology company’s stock valued at $28,000 after purchasing an additional 201 shares during the period. UMB Bank n.a. raised its position in shares of Lumentum by 301.2% in the fourth quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock valued at $28,000 after buying an additional 253 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Lumentum by 54.2% in the fourth quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock valued at $31,000 after buying an additional 130 shares during the period. Capital Performance Advisors LLP acquired a new stake in Lumentum during the third quarter worth approximately $33,000. Finally, Nomura Asset Management Co. Ltd. increased its stake in 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 acquiring an additional 270 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lumentum

In other Lumentum news, CFO Wajid Ali sold 2,172 shares of the company’s stock in a transaction dated 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 in the company, 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 SEC, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Lumentum Trading Down 6.6 %

Shares of LITE stock opened at $65.69 on Tuesday. Lumentum Holdings Inc. has a twelve month low of $38.28 and a twelve month high of $104.00. The stock’s fifty day simple moving average is $83.30 and its 200 day simple moving average is $74.95. The company has a quick ratio of 3.60, a current ratio of 4.76 and a debt-to-equity ratio of 2.94. The firm has a market capitalization of $4.55 billion, a P/E ratio of -8.54 and a beta of 0.94.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. As a group, sell-side analysts predict that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on LITE shares. Stifel Nicolaus increased their target price on Lumentum from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Rosenblatt Securities reiterated a “buy” rating and set a $110.00 price objective on shares of Lumentum in a research note on Friday, February 7th. Northland Securities boosted their target price on shares of Lumentum from $60.00 to $70.00 and gave the company a “market perform” rating in a research report on Friday, February 7th. B. Riley increased their price target on shares of Lumentum from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, Susquehanna boosted their price objective on shares of Lumentum from $80.00 to $115.00 and gave the company a “positive” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Lumentum currently has an average rating of “Hold” and an average target price 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.