Cetera Investment Advisers Has $645,000 Position in Lumentum Holdings Inc. (NASDAQ:LITE)

Cetera Investment Advisers reduced its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 2.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 7,679 shares of the technology company’s stock after selling 181 shares during the quarter. Cetera Investment Advisers’ holdings in Lumentum were worth $645,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Caxton Associates LP bought a new stake in shares of Lumentum during the 4th quarter valued at about $1,560,000. Balyasny Asset Management L.P. boosted its holdings in Lumentum by 419.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 444,147 shares of the technology company’s stock worth $37,286,000 after acquiring an additional 583,330 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its position in shares of Lumentum by 15.7% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 345,410 shares of the technology company’s stock worth $28,997,000 after purchasing an additional 46,929 shares during the period. Northern Trust Corp raised its holdings in shares of Lumentum by 18.5% in the 4th quarter. Northern Trust Corp now owns 700,893 shares of the technology company’s stock worth $58,840,000 after acquiring an additional 109,430 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Lumentum by 1.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 53,238 shares of the technology company’s stock valued at $4,469,000 after acquiring an additional 763 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on LITE shares. Morgan Stanley cut their price objective on shares of Lumentum from $83.00 to $81.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. B. Riley lifted their target price on Lumentum from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Northland Securities set a $80.00 price target on Lumentum in a research report on Wednesday, May 7th. Needham & Company LLC dropped their target price on Lumentum from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. dropped their price objective on Lumentum from $105.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $82.20.

Insiders Place Their Bets

In related news, insider Yuen Wupen sold 4,716 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $76.87, for a total transaction of $362,518.92. Following the sale, the insider now directly owns 82,957 shares of the company’s stock, valued at approximately $6,376,904.59. This represents a 5.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jae Kim sold 4,577 shares of the firm’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $77.98, for a total transaction of $356,914.46. Following the sale, the senior vice president now owns 31,534 shares of the company’s stock, valued at approximately $2,459,021.32. This represents a 12.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,298 shares of company stock worth $1,081,764. Company insiders own 0.19% of the company’s stock.

Lumentum Trading Down 0.1%

LITE stock opened at $75.77 on Monday. The company has a market capitalization of $5.26 billion, a PE ratio of -9.85 and a beta of 1.18. Lumentum Holdings Inc. has a one year low of $38.29 and a one year high of $104.00. 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 company’s 50 day moving average price is $62.83 and its two-hundred day moving average price is $75.42.

Lumentum (NASDAQ:LITE) last posted its earnings results on Tuesday, May 6th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.07. The firm had revenue of $425.20 million for the quarter, compared to analysts’ expectations of $418.18 million. Lumentum had a negative return on equity of 7.25% and a negative net margin of 36.98%. The business’s revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 earnings per share. As a group, analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

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.