Vanguard Personalized Indexing Management LLC Invests $210,000 in Lumentum Holdings Inc. (NASDAQ:LITE)

Vanguard Personalized Indexing Management LLC bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,152 shares of the technology company’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swedbank AB acquired a new stake in Lumentum in the first quarter valued at $71,025,000. Vanguard Group Inc. lifted its holdings in Lumentum by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 7,196,205 shares of the technology company’s stock valued at $377,225,000 after acquiring an additional 442,177 shares during the period. Van Lanschot Kempen Investment Management N.V. lifted its holdings in Lumentum by 17.8% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,154,805 shares of the technology company’s stock valued at $58,803,000 after acquiring an additional 174,828 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Lumentum by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,703,969 shares of the technology company’s stock valued at $86,760,000 after acquiring an additional 130,838 shares during the period. Finally, Hodges Capital Management Inc. acquired a new stake in Lumentum in the second quarter valued at $5,642,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Lumentum Trading Down 1.8 %

Shares of LITE stock opened at $63.38 on Tuesday. The firm has a 50-day moving average price of $53.63 and a 200 day moving average price of $49.70. Lumentum Holdings Inc. has a twelve month low of $35.35 and a twelve month high of $65.52. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of -12.07, a PEG ratio of 4.83 and a beta of 0.88. The company has a current ratio of 5.90, a quick ratio of 4.43 and a debt-to-equity ratio of 2.61.

Lumentum (NASDAQ:LITE) last announced its earnings results on Wednesday, August 14th. The technology company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. The firm had revenue of $308.30 million during the quarter, compared to the consensus estimate of $301.36 million. Lumentum had a negative net margin of 40.21% and a negative return on equity of 4.79%. The firm’s revenue for the quarter was down 16.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.12 EPS. Research analysts forecast that Lumentum Holdings Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their target price on Lumentum from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Morgan Stanley lifted their price target on Lumentum from $50.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Jefferies Financial Group lifted their price target on Lumentum from $53.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Rosenblatt Securities lifted their price target on Lumentum from $65.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, B. Riley lifted their price target on Lumentum from $40.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $59.08.

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.