Leeward Investments LLC MA Has $18.88 Million Stock Holdings in Lumentum Holdings Inc. (NASDAQ:LITE)

Leeward Investments LLC MA boosted its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 28.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 360,129 shares of the technology company’s stock after purchasing an additional 79,814 shares during the quarter. Leeward Investments LLC MA’s holdings in Lumentum were worth $18,878,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of LITE. Headlands Technologies LLC acquired a new position in shares of Lumentum during the 3rd quarter worth approximately $26,000. Ramirez Asset Management Inc. acquired a new position in shares of Lumentum during the 3rd quarter worth approximately $32,000. Neo Ivy Capital Management acquired a new position in shares of Lumentum during the 3rd quarter worth approximately $32,000. Whittier Trust Co. increased its position in shares of Lumentum by 697.7% during the 4th quarter. Whittier Trust Co. now owns 1,715 shares of the technology company’s stock worth $90,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Lumentum during the 3rd quarter worth approximately $180,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Lumentum Stock Performance

NASDAQ:LITE opened at $43.42 on Friday. The stock has a fifty day moving average price of $46.98 and a 200-day moving average price of $47.01. The company has a market cap of $2.93 billion, a price-to-earnings ratio of -11.02 and a beta of 1.09. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.42 and a current ratio of 3.13. Lumentum Holdings Inc. has a fifty-two week low of $35.35 and a fifty-two week high of $65.16.

Lumentum (NASDAQ:LITE) last released its earnings results on Thursday, February 8th. The technology company reported ($0.17) earnings per share 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 the consensus estimate of $363.44 million. Lumentum had a negative net margin of 18.52% and a positive return on equity of 1.04%. As a group, equities analysts anticipate that Lumentum Holdings Inc. will post -0.64 EPS for the current fiscal year.

Insider Activity

In other news, CAO Matthew Joseph Sepe sold 9,903 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $49.23, for a total transaction of $487,524.69. Following the completion of the sale, the chief accounting officer now directly owns 33,188 shares in the company, valued at approximately $1,633,845.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LITE. Barclays boosted their target price on Lumentum from $40.00 to $45.00 and gave the stock an “underweight” rating in a report on Tuesday, January 16th. Raymond James boosted their target price on Lumentum from $51.50 to $58.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. Rosenblatt Securities boosted their target price on Lumentum from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Susquehanna decreased their target price on Lumentum from $65.00 to $60.00 and set a “positive” rating on the stock in a report on Friday, February 9th. Finally, Needham & Company LLC reissued a “buy” rating and set a $50.00 target price on shares of Lumentum in a report on Friday, February 9th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Lumentum has a consensus rating of “Hold” and a consensus price target of $52.69.

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.