Legato Capital Management LLC Purchases Shares of 14,155 Lumentum Holdings Inc. (NASDAQ:LITE)

Legato Capital Management LLC bought a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,155 shares of the technology company’s stock, valued at approximately $1,188,000.

Other large investors have also bought and sold shares of the company. Quarry LP lifted its holdings in Lumentum by 85.5% in the 3rd quarter. Quarry LP now owns 436 shares of the technology company’s stock valued at $28,000 after acquiring an additional 201 shares during the last quarter. UMB Bank n.a. grew its position in Lumentum by 301.2% in the fourth quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock worth $28,000 after buying an additional 253 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Lumentum in the third quarter valued at $33,000. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Lumentum by 67.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company’s stock valued at $42,000 after purchasing an additional 270 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Lumentum by 141.6% in the 3rd quarter. GAMMA Investing LLC now owns 894 shares of the technology company’s stock worth $57,000 after purchasing an additional 524 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Insider Activity at Lumentum

In other Lumentum news, CFO Wajid Ali sold 29,887 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $85.06, for a total transaction of $2,542,188.22. Following the completion of the transaction, the chief financial officer now owns 56,492 shares of the company’s stock, valued at $4,805,209.52. The trade was a 34.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vincent Retort sold 41,710 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.52, for a total transaction of $3,733,879.20. Following the sale, the insider now owns 147,515 shares of the company’s stock, valued at $13,205,542.80. This trade represents a 22.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 78,625 shares of company stock valued at $6,858,010. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

LITE has been the subject of a number of analyst reports. Raymond James upped their price objective on shares of Lumentum from $94.00 to $96.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. B. Riley raised their target price on Lumentum from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Susquehanna upped their price target on Lumentum from $80.00 to $115.00 and gave the company a “positive” rating in a research report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and set a $110.00 price objective on shares of Lumentum in a research report on Friday, February 7th. Finally, Morgan Stanley dropped their target price on Lumentum from $83.00 to $81.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Lumentum has an average rating of “Hold” and an average price target of $88.07.

Lumentum Stock Performance

Shares of LITE opened at $79.22 on Thursday. The company has a debt-to-equity ratio of 2.87, a quick ratio of 4.04 and a current ratio of 5.36. Lumentum Holdings Inc. has a 12 month low of $38.28 and a 12 month high of $104.00. The company’s fifty day moving average is $87.09 and its 200-day moving average is $72.20.

Lumentum (NASDAQ:LITE) last posted its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.00%. Analysts predict that Lumentum Holdings Inc. will post -0.04 earnings per share for the current fiscal year.

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.