Lightrock Netherlands B.V. Invests $12.67 Million in Lumentum Holdings Inc. (NASDAQ:LITE)

Lightrock Netherlands B.V. purchased a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the 4th quarter, Holdings Channel reports. The fund purchased 150,156 shares of the technology company’s stock, valued at approximately $12,668,000. Lumentum makes up 4.4% of Lightrock Netherlands B.V.’s holdings, making the stock its 4th biggest position.

A number of other institutional investors also recently bought and sold shares of LITE. Quarry LP raised its stake in shares of Lumentum by 85.5% in the third 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 period. UMB Bank n.a. grew its holdings in Lumentum by 301.2% during the 4th quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock valued at $28,000 after purchasing an additional 253 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Lumentum in the 3rd quarter worth about $33,000. Nomura Asset Management Co. Ltd. lifted its stake in Lumentum by 67.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company’s stock worth $42,000 after purchasing an additional 270 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Lumentum by 141.6% during the third quarter. GAMMA Investing LLC now owns 894 shares of the technology company’s stock valued at $57,000 after buying an additional 524 shares during the period. 94.05% of the stock is currently owned by institutional investors.

Lumentum Stock Performance

NASDAQ LITE opened at $81.93 on Tuesday. The company has a quick ratio of 4.04, a current ratio of 5.36 and a debt-to-equity ratio of 2.87. Lumentum Holdings Inc. has a twelve month low of $38.28 and a twelve month high of $104.00. The stock has a 50-day moving average of $87.59 and a 200 day moving average of $71.95.

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 the consensus estimate of $0.27 by ($0.41). Lumentum had a negative return on equity of 7.00% and a negative net margin of 36.98%. As a group, equities research analysts expect that Lumentum Holdings Inc. will post -0.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lumentum news, Director Penny Herscher sold 1,625 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $81.09, for a total transaction of $131,771.25. Following the completion of the sale, the director now owns 6,852 shares of the company’s stock, valued at $555,628.68. This trade represents a 19.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vincent Retort sold 41,710 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $89.52, for a total value of $3,733,879.20. Following the sale, the insider now directly owns 147,515 shares of the company’s stock, valued at $13,205,542.80. The trade was a 22.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,797 shares of company stock valued at $7,573,878 in the last ninety days. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

LITE has been the topic of several recent analyst reports. Raymond James increased their price target on Lumentum from $94.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday. Stifel Nicolaus lifted their target price on Lumentum from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday. Barclays upgraded 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 report on Friday, January 17th. Rosenblatt Securities reiterated a “buy” rating and set a $110.00 price objective on shares of Lumentum in a report on Friday. Finally, Needham & Company LLC restated a “buy” rating and issued a $110.00 target price on shares of Lumentum in a research note on Friday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $88.07.

About Lumentum

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.