Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 206 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,173 shares of the technology company’s stock after buying an additional 206 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Lumentum were worth $1,274,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of LITE. Atreides Management LP boosted its holdings in Lumentum by 28.5% during the third quarter. Atreides Management LP now owns 1,691,017 shares of the technology company’s stock valued at $107,177,000 after acquiring an additional 375,389 shares during the period. Point72 Hong Kong Ltd bought a new stake in Lumentum during the 3rd quarter valued at approximately $17,981,000. Proficio Capital Partners LLC acquired a new stake in Lumentum in the 4th quarter valued at approximately $13,421,000. Lightrock Netherlands B.V. bought a new position in Lumentum in the 4th quarter worth approximately $12,668,000. Finally, Fisher Asset Management LLC increased its position in Lumentum by 18.8% in the 4th quarter. Fisher Asset Management LLC now owns 687,311 shares of the technology company’s stock worth $57,700,000 after buying an additional 108,740 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Lumentum Price Performance

Shares of Lumentum stock opened at $71.07 on Wednesday. Lumentum Holdings Inc. has a 1-year low of $38.29 and a 1-year high of $104.00. The firm’s 50-day moving average price is $76.87 and its two-hundred day moving average price is $76.04. The company has a current ratio of 4.76, a quick ratio of 3.60 and a debt-to-equity ratio of 2.94. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of -9.24 and a beta of 1.03.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share 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%. On average, equities analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LITE. Stifel Nicolaus raised their price objective on shares of Lumentum from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Morgan Stanley dropped 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. Raymond James upgraded shares of Lumentum from an “outperform” rating to a “strong-buy” rating and reduced their target price for the company from $96.00 to $82.00 in a research note on Monday. Northland Securities boosted their price target on Lumentum from $60.00 to $70.00 and gave the company a “market perform” rating in a research note on Friday, February 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $110.00 price objective on shares of Lumentum in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $87.40.

Insider Buying and Selling

In other news, CFO Wajid Ali sold 2,172 shares of Lumentum stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total value of $170,154.48. Following the completion of the sale, the chief financial officer now directly owns 51,976 shares of the company’s stock, valued at approximately $4,071,799.84. This trade represents a 4.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is owned by corporate insiders.

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.