Bank Julius Baer & Co. Ltd Zurich Purchases Shares of 26,506 Lumentum Holdings Inc. (NASDAQ:LITE)

Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 26,506 shares of the technology company’s stock, valued at approximately $1,389,000.

A number of other large investors also recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. increased its position in shares of Lumentum by 12.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 40,302 shares of the technology company’s stock worth $1,821,000 after acquiring an additional 4,342 shares in the last quarter. Stratos Wealth Advisors LLC bought a new stake in shares of Lumentum during the third quarter worth $208,000. JB Capital LLC increased its position in shares of Lumentum by 36.0% during the third quarter. JB Capital LLC now owns 11,054 shares of the technology company’s stock worth $499,000 after acquiring an additional 2,929 shares in the last quarter. Washington Capital Management Inc. bought a new stake in shares of Lumentum during the third quarter worth $533,000. Finally, Park Avenue Securities LLC bought a new stake in shares of Lumentum during the third quarter worth $382,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lumentum

In related news, CAO Matthew Joseph Sepe sold 9,903 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $49.23, for a total transaction of $487,524.69. Following the transaction, the chief accounting officer now directly owns 33,188 shares of the company’s stock, valued at $1,633,845.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on LITE shares. B. Riley lowered their price objective on shares of Lumentum from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, February 9th. Stifel Nicolaus restated a “buy” rating and set a $62.00 target price on shares of Lumentum in a report on Monday, April 1st. Barclays increased their target price on shares of Lumentum from $40.00 to $45.00 and gave the stock an “underweight” rating in a report on Tuesday, January 16th. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Lumentum in a report on Friday, February 9th. Finally, Rosenblatt Securities increased their target price on shares of Lumentum from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $52.69.

Lumentum Stock Performance

Shares of LITE stock opened at $43.42 on Friday. The company has a fifty day moving average price of $46.98 and a two-hundred day moving average price of $47.01. The company has a debt-to-equity ratio of 1.96, a current ratio of 3.13 and a quick ratio of 2.42. The stock has a market cap of $2.93 billion, a P/E ratio of -11.02 and a beta of 1.09. Lumentum Holdings Inc. has a one year low of $35.35 and a one year high of $65.16.

Lumentum (NASDAQ:LITE) last posted its earnings results 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 company had revenue of $366.80 million for the quarter, compared to analyst estimates of $363.44 million. Lumentum had a positive return on equity of 1.04% and a negative net margin of 18.52%. As a group, equities analysts predict that Lumentum Holdings Inc. will post -0.64 EPS for the current 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.