Lumentum Holdings Inc. (NASDAQ:LITE) Holdings Lowered by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC lowered its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 4.2% during the fourth quarter, HoldingsChannel reports. The firm owned 1,101,936 shares of the technology company’s stock after selling 48,056 shares during the period. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Lumentum were worth $92,508,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Atreides Management LP increased its position in shares of Lumentum by 28.5% in the third quarter. Atreides Management LP now owns 1,691,017 shares of the technology company’s stock worth $107,177,000 after acquiring an additional 375,389 shares in the last quarter. Geode Capital Management LLC grew its position in Lumentum by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,186,163 shares of the technology company’s stock worth $75,198,000 after purchasing an additional 15,799 shares in the last quarter. Norges Bank acquired a new stake in Lumentum during the 4th quarter valued at $68,962,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Lumentum by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 738,155 shares of the technology company’s stock valued at $46,784,000 after purchasing an additional 37,109 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of Lumentum by 18.8% in the fourth quarter. Fisher Asset Management LLC now owns 687,311 shares of the technology company’s stock worth $57,700,000 after buying an additional 108,740 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Activity at Lumentum

In related news, CFO Wajid Ali sold 2,172 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 51,976 shares in the company, valued at $4,071,799.84. This represents a 4.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by corporate insiders.

Lumentum Price Performance

Shares of Lumentum stock opened at $62.58 on Friday. The company has a current ratio of 4.76, a quick ratio of 3.60 and a debt-to-equity ratio of 2.94. The firm has a fifty day simple moving average of $75.28 and a 200-day simple moving average of $76.14. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of -8.14 and a beta of 1.03. Lumentum Holdings Inc. has a 1-year low of $38.29 and a 1-year high of $104.00.

Lumentum (NASDAQ:LITE) last released its 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, sell-side analysts expect that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on LITE. Stifel Nicolaus increased their price objective on Lumentum from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Jefferies Financial Group started coverage on shares of Lumentum in a report on Friday, February 21st. They set a “buy” rating for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $110.00 price objective on shares of Lumentum in a research note on Friday, February 7th. Barclays raised shares of Lumentum from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $80.00 to $125.00 in a research note on Friday, January 17th. Finally, B. Riley upped their price target on shares of Lumentum from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lumentum has a consensus rating of “Moderate Buy” and an average price target of $87.40.

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.