Black Swift Group LLC Acquires New Shares in Lumentum Holdings Inc. (NASDAQ:LITE)

Black Swift Group LLC bought a new position in Lumentum Holdings Inc. (NASDAQ:LITE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,000 shares of the technology company’s stock, valued at approximately $1,343,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP boosted its position in Lumentum by 85.5% in the third quarter. Quarry LP now owns 436 shares of the technology company’s stock worth $28,000 after purchasing an additional 201 shares during the last quarter. UMB Bank n.a. raised its stake in shares of 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 period. Jones Financial Companies Lllp raised its stake in shares of Lumentum by 54.2% in the fourth quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock worth $31,000 after buying an additional 130 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Lumentum in the third quarter worth about $33,000. Finally, Nomura Asset Management Co. Ltd. raised its stake in Lumentum by 67.5% during the 3rd 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 period. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related 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 transaction, the chief financial officer now directly owns 51,976 shares in the company, valued at approximately $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 insiders.

Lumentum Price Performance

NASDAQ:LITE opened at $67.34 on Thursday. The stock has a 50 day moving average price of $82.92 and a 200 day moving average price of $75.04. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76. The stock has a market cap of $4.66 billion, a PE ratio of -8.76 and a beta of 1.03. Lumentum Holdings Inc. has a one year low of $38.29 and a one year high of $104.00.

Lumentum (NASDAQ:LITE) last posted its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (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%. Equities research analysts expect that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Susquehanna lifted their price objective on Lumentum from $80.00 to $115.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Northland Securities boosted their price objective on Lumentum from $60.00 to $70.00 and gave the company a “market perform” rating in a report on Friday, February 7th. B. Riley upped their target price on Lumentum from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Rosenblatt Securities reissued a “buy” rating and issued a $110.00 price target on shares of Lumentum in a research report on Friday, February 7th. Finally, UBS Group boosted their price target on Lumentum from $93.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $88.07.

Lumentum 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.