Landscape Capital Management L.L.C. Makes New Investment in Lumentum Holdings Inc. (NASDAQ:LITE)

Landscape Capital Management L.L.C. bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,604 shares of the technology company’s stock, valued at approximately $1,478,000.

Other large investors have also modified their holdings of the company. Robeco Institutional Asset Management B.V. acquired a new position in Lumentum in the 4th quarter valued at $646,000. SBI Securities Co. Ltd. purchased a new stake in shares of Lumentum in the fourth quarter valued at about $739,000. Two Sigma Advisers LP increased its stake in shares of Lumentum by 24.7% during the third quarter. Two Sigma Advisers LP now owns 186,600 shares of the technology company’s stock worth $11,827,000 after acquiring an additional 37,000 shares during the period. Aigen Investment Management LP lifted its position in Lumentum by 72.9% in the fourth quarter. Aigen Investment Management LP now owns 17,440 shares of the technology company’s stock valued at $1,464,000 after purchasing an additional 7,354 shares during the period. Finally, Zweig DiMenna Associates LLC purchased a new stake in Lumentum in the 4th quarter valued at approximately $7,052,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Lumentum Stock Performance

NASDAQ:LITE opened at $49.56 on Friday. 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 firm has a market cap of $3.43 billion, a PE ratio of -6.44 and a beta of 1.14. The firm has a 50 day simple moving average of $71.46 and a 200-day simple moving average of $76.13. Lumentum Holdings Inc. has a 1-year low of $38.29 and a 1-year high of $104.00.

Lumentum (NASDAQ:LITE) last issued 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 return on equity of 7.25% and a negative net margin of 36.98%. On average, equities analysts expect that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LITE. B. Riley increased their target price on Lumentum from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Northland Securities raised their target price on Lumentum from $60.00 to $70.00 and gave the company a “market perform” rating in a report on Friday, February 7th. Barclays raised shares of 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 research note on Friday, January 17th. Raymond James upgraded shares of Lumentum from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the company from $96.00 to $82.00 in a research note on Monday, March 24th. Finally, Needham & Company LLC restated a “buy” rating and set a $110.00 target price 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 issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.40.

Insiders Place Their Bets

In other Lumentum news, CFO Wajid Ali sold 2,172 shares of the 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 owns 51,976 shares of the company’s stock, valued at $4,071,799.84. This trade represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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.