17,424 Shares in Lumentum Holdings Inc. (NASDAQ:LITE) Purchased by Semanteon Capital Management LP

Semanteon Capital Management LP acquired a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 17,424 shares of the technology company’s stock, valued at approximately $1,463,000. Lumentum makes up 0.8% of Semanteon Capital Management LP’s investment portfolio, making the stock its 18th biggest position.

A number of other institutional investors also recently added to or reduced their stakes in LITE. GSA Capital Partners LLP acquired a new stake in Lumentum in the 3rd quarter valued at $230,000. Quest Partners LLC increased its position in shares of Lumentum by 776,400.0% during the 3rd quarter. Quest Partners LLC now owns 7,765 shares of the technology company’s stock worth $492,000 after purchasing an additional 7,764 shares in the last quarter. King Luther Capital Management Corp lifted its holdings in Lumentum by 6.2% during the 3rd quarter. King Luther Capital Management Corp now owns 82,331 shares of the technology company’s stock valued at $5,218,000 after purchasing an additional 4,809 shares during the last quarter. John G Ullman & Associates Inc. boosted its position in Lumentum by 1.7% in the third quarter. John G Ullman & Associates Inc. now owns 87,670 shares of the technology company’s stock valued at $5,557,000 after buying an additional 1,432 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Lumentum by 5.3% during 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. 94.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on LITE shares. Rosenblatt Securities restated a “buy” rating and set a $110.00 price target on shares of Lumentum in a research report on Friday, February 7th. BNP Paribas raised shares of Lumentum from a “neutral” rating to an “outperform” rating and set a $92.00 price objective on the stock in a report on Tuesday, March 11th. B. Riley boosted their target price on shares of Lumentum from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Jefferies Financial Group began coverage on Lumentum in a research report on Friday, February 21st. They set a “buy” rating for the company. Finally, Barclays upgraded shares of Lumentum from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $80.00 to $125.00 in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.33.

Lumentum Price Performance

LITE stock opened at $68.83 on Friday. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76. The business has a 50-day simple moving average of $77.71 and a two-hundred day simple moving average of $75.41. The company has a market capitalization of $4.76 billion, a P/E ratio of -8.95 and a beta of 1.03. Lumentum Holdings Inc. has a 52-week low of $38.29 and a 52-week high of $104.00.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share 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%. Research analysts expect that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Insider Activity

In related news, CFO Wajid Ali sold 2,172 shares of Lumentum stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total transaction of $170,154.48. Following the completion of the sale, the chief financial officer now owns 51,976 shares of the company’s stock, valued at approximately $4,071,799.84. This trade represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is owned by company insiders.

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.