Swiss National Bank Purchases 2,900 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Swiss National Bank grew its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 134,915 shares of the technology company’s stock after acquiring an additional 2,900 shares during the quarter. Swiss National Bank owned about 0.20% of Lumentum worth $11,326,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GSA Capital Partners LLP bought a new stake in Lumentum during the third quarter worth $230,000. Quest Partners LLC grew its holdings in Lumentum by 776,400.0% during the third quarter. Quest Partners LLC now owns 7,765 shares of the technology company’s stock worth $492,000 after buying an additional 7,764 shares in the last quarter. King Luther Capital Management Corp grew its holdings in Lumentum by 6.2% during the third quarter. King Luther Capital Management Corp now owns 82,331 shares of the technology company’s stock worth $5,218,000 after buying an additional 4,809 shares in the last quarter. John G Ullman & Associates Inc. grew its holdings in Lumentum by 1.7% during the third quarter. John G Ullman & Associates Inc. now owns 87,670 shares of the technology company’s stock worth $5,557,000 after buying an additional 1,432 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Lumentum by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 738,155 shares of the technology company’s stock worth $46,784,000 after buying an additional 37,109 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

LITE has been the subject of several recent research reports. Barclays upgraded Lumentum from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $80.00 to $125.00 in a report on Friday, January 17th. BNP Paribas raised Lumentum from a “neutral” rating to an “outperform” rating and set a $92.00 price objective on the stock in a research report on Tuesday, March 11th. UBS Group boosted their price objective on Lumentum from $93.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Rosenblatt Securities reissued a “buy” rating and issued a $110.00 price objective on shares of Lumentum in a research report on Friday, February 7th. Finally, Jefferies Financial Group began coverage on Lumentum in a research report on Friday, February 21st. They issued a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Lumentum currently has a consensus rating of “Moderate Buy” and an average price target of $88.33.

Lumentum Stock Performance

NASDAQ:LITE opened at $68.83 on Friday. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76. Lumentum Holdings Inc. has a 52-week low of $38.29 and a 52-week high of $104.00. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of -8.95 and a beta of 1.03. The business’s fifty day moving average is $77.71 and its 200 day moving average is $75.41.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.41). Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. Research analysts predict that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Insider Activity at Lumentum

In related news, CFO Wajid Ali sold 2,172 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total transaction of $170,154.48. Following the sale, the chief financial officer now directly owns 51,976 shares in the company, valued at approximately $4,071,799.84. The trade was a 4.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

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.