Advisors Preferred LLC Invests $865,000 in Lumentum Holdings Inc. (NASDAQ:LITE)

Advisors Preferred LLC bought a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,105 shares of the technology company’s stock, valued at approximately $865,000.

Several other hedge funds also recently added to or reduced their stakes in LITE. Atom Investors LP acquired a new position in shares of Lumentum in the 3rd quarter valued at about $4,127,000. Two Sigma Advisers LP lifted its holdings in Lumentum by 24.7% in the third quarter. Two Sigma Advisers LP now owns 186,600 shares of the technology company’s stock valued at $11,827,000 after acquiring an additional 37,000 shares during the period. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Lumentum during the 4th quarter worth approximately $646,000. West Tower Group LLC purchased a new position in shares of Lumentum during the 3rd quarter valued at approximately $444,000. Finally, Zweig DiMenna Associates LLC acquired a new position in shares of Lumentum in the 4th quarter valued at $7,052,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on LITE shares. Northland Securities raised their target price on Lumentum from $60.00 to $70.00 and gave the company a “market perform” rating in a research report on Friday. Morgan Stanley dropped their price target on shares of Lumentum from $83.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $110.00 price objective on shares of Lumentum in a report on Friday. Barclays raised shares of Lumentum from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $80.00 to $125.00 in a research note on Friday, January 17th. Finally, Raymond James raised their price target on shares of Lumentum from $94.00 to $96.00 and gave the company an “outperform” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $88.07.

Insiders Place Their Bets

In other news, Director Penny Herscher sold 1,625 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $81.09, for a total transaction of $131,771.25. Following the sale, the director now owns 6,852 shares of the company’s stock, valued at approximately $555,628.68. This represents a 19.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Matthew Joseph Sepe sold 8,172 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $87.60, for a total transaction of $715,867.20. Following the completion of the transaction, the chief accounting officer now directly owns 21,138 shares of the company’s stock, valued at approximately $1,851,688.80. The trade was a 27.88 % 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 90 days. 0.19% of the stock is owned by company insiders.

Lumentum Stock Performance

Lumentum stock opened at $85.90 on Friday. The company has a debt-to-equity ratio of 2.87, a current ratio of 5.36 and a quick ratio of 4.04. The firm has a 50 day simple moving average of $87.68 and a 200-day simple moving average of $71.49. Lumentum Holdings Inc. has a 1-year low of $38.28 and a 1-year high of $104.00.

Lumentum (NASDAQ:LITE) last posted its earnings results 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 7.00%. Sell-side analysts anticipate that Lumentum Holdings Inc. will post -0.04 earnings per share for the current year.

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.