Raymond James & Associates Raises Stock Holdings in Lumentum Holdings Inc. (NASDAQ:LITE)

Raymond James & Associates boosted its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 15.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 62,777 shares of the technology company’s stock after purchasing an additional 8,174 shares during the period. Raymond James & Associates owned about 0.09% of Lumentum worth $3,291,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. HighTower Advisors LLC grew its holdings in shares of Lumentum by 6.7% in the 1st quarter. HighTower Advisors LLC now owns 5,729 shares of the technology company’s stock worth $557,000 after acquiring an additional 358 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of Lumentum by 23.3% in the 1st quarter. Private Advisor Group LLC now owns 5,083 shares of the technology company’s stock worth $496,000 after acquiring an additional 960 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Lumentum by 10.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,461 shares of the technology company’s stock worth $2,583,000 after acquiring an additional 2,490 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Lumentum by 7.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 39,147 shares of the technology company’s stock worth $3,926,000 after acquiring an additional 2,686 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Lumentum by 7.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 805,662 shares of the technology company’s stock worth $78,633,000 after acquiring an additional 53,978 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insiders Place Their Bets

In other Lumentum news, CAO Matthew Joseph Sepe sold 9,903 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $49.23, for a total value of $487,524.69. Following the completion of the sale, the chief accounting officer now owns 33,188 shares of the company’s stock, valued at $1,633,845.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LITE. JPMorgan Chase & Co. decreased their target price on Lumentum from $62.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $62.00 target price on shares of Lumentum in a research report on Monday, April 1st. Rosenblatt Securities raised their target price on Lumentum from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Lumentum in a research report on Friday, February 9th. Finally, Craig Hallum raised Lumentum from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Lumentum currently has a consensus rating of “Hold” and a consensus target price of $51.79.

Lumentum Price Performance

LITE opened at $43.45 on Friday. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of -11.03 and a beta of 1.09. Lumentum Holdings Inc. has a 1 year low of $35.35 and a 1 year high of $65.16. The company has a current ratio of 3.13, a quick ratio of 2.42 and a debt-to-equity ratio of 1.96. The stock has a fifty day moving average price of $48.72 and a 200 day moving average price of $47.14.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Thursday, February 8th. The technology company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.07). The firm had revenue of $366.80 million for the quarter, compared to analyst estimates of $363.44 million. Lumentum had a negative net margin of 18.52% and a positive return on equity of 1.04%. Analysts forecast that Lumentum Holdings Inc. will post -0.61 EPS for the current fiscal year.

About Lumentum

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.