Parametrica Management Ltd Invests $207,000 in Lumentum Holdings Inc. (NASDAQ:LITE)

Parametrica Management Ltd acquired a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 2,469 shares of the technology company’s stock, valued at approximately $207,000.

Other institutional investors also recently added to or reduced their stakes in the company. Atreides Management LP raised its stake in shares of Lumentum by 28.5% during the 3rd quarter. Atreides Management LP now owns 1,691,017 shares of the technology company’s stock worth $107,177,000 after buying an additional 375,389 shares in the last quarter. Geode Capital Management LLC raised its position in Lumentum by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,186,163 shares of the technology company’s stock worth $75,198,000 after acquiring an additional 15,799 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Lumentum by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 738,155 shares of the technology company’s stock worth $46,784,000 after acquiring an additional 37,109 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Lumentum by 18.8% in the fourth quarter. Fisher Asset Management LLC now owns 687,311 shares of the technology company’s stock valued at $57,700,000 after acquiring an additional 108,740 shares during the period. Finally, Emerald Advisers LLC boosted its position in shares of Lumentum by 12.3% during the 4th quarter. Emerald Advisers LLC now owns 425,079 shares of the technology company’s stock worth $35,685,000 after purchasing an additional 46,544 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Lumentum Trading Down 3.5 %

NASDAQ LITE opened at $71.07 on Wednesday. The company has a market cap of $4.92 billion, a P/E ratio of -9.24 and a beta of 1.03. Lumentum Holdings Inc. has a 12 month low of $38.29 and a 12 month high of $104.00. The company has a debt-to-equity ratio of 2.94, a current ratio of 4.76 and a quick ratio of 3.60. The company has a 50-day moving average of $76.87 and a 200-day moving average of $76.04.

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

Analyst Ratings Changes

Several analysts recently commented on the stock. Barclays upgraded shares of Lumentum from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $80.00 to $125.00 in a research note on Friday, January 17th. Jefferies Financial Group began coverage on Lumentum in a research note on Friday, February 21st. They set a “buy” rating on the stock. Stifel Nicolaus raised their price objective on Lumentum from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Raymond James upgraded Lumentum from an “outperform” rating to a “strong-buy” rating and decreased their target price for the stock from $96.00 to $82.00 in a research report on Monday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $110.00 target price on shares of Lumentum in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $87.40.

Insider Buying and Selling

In other Lumentum news, CFO Wajid Ali sold 2,172 shares of Lumentum stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total transaction of $170,154.48. Following the transaction, the chief financial officer now directly owns 51,976 shares of the company’s stock, valued at $4,071,799.84. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

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.