ExodusPoint Capital Management LP Has $7.44 Million Stake in Lumentum Holdings Inc. (NASDAQ:LITE)

ExodusPoint Capital Management LP raised its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 131.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,662 shares of the technology company’s stock after buying an additional 50,317 shares during the quarter. ExodusPoint Capital Management LP owned about 0.13% of Lumentum worth $7,443,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Quarry LP grew its holdings in Lumentum by 85.5% during the third 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. boosted its position in shares of Lumentum by 301.2% during the fourth quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock worth $28,000 after purchasing an additional 253 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Lumentum by 54.2% in the 4th 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. Nomura Asset Management Co. Ltd. increased its position in shares of 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 in the last quarter. Finally, J.Safra Asset Management Corp raised its stake in Lumentum by 31.1% during the 4th quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company’s stock worth $43,000 after buying an additional 122 shares during the period. 94.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on LITE. Needham & Company LLC reissued a “buy” rating and issued a $110.00 target price on shares of Lumentum in a research note on Friday, February 7th. Jefferies Financial Group assumed coverage on Lumentum in a research note on Friday, February 21st. They set a “buy” rating for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $110.00 price target on shares of Lumentum in a research note on Friday, February 7th. Raymond James raised shares of Lumentum from an “outperform” rating to a “strong-buy” rating and cut their price objective for the company from $96.00 to $82.00 in a research report on Monday, March 24th. Finally, 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. Two investment analysts have rated the stock with a sell rating, four have issued 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 stock currently has an average rating of “Moderate Buy” and an average price target of $87.40.

Lumentum Trading Down 7.3 %

NASDAQ LITE opened at $49.56 on Friday. The company has a market cap of $3.43 billion, a PE ratio of -6.44 and a beta of 1.14. Lumentum Holdings Inc. has a 12 month low of $38.29 and a 12 month high of $104.00. The stock has a 50 day moving average of $71.46 and a 200-day moving average of $76.13. The company has a current ratio of 4.76, a quick ratio of 3.60 and a debt-to-equity ratio of 2.94.

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 net margin of 36.98% and a negative return on equity of 7.25%. On average, equities research analysts anticipate that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lumentum news, CFO Wajid Ali sold 2,172 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total value of $170,154.48. Following the transaction, the chief financial officer now directly owns 51,976 shares in the company, valued at $4,071,799.84. The trade was a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.19% of the company’s stock.

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.