EAM Investors LLC Sells 1,379 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

EAM Investors LLC lowered its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 60,535 shares of the technology company’s stock after selling 1,379 shares during the period. EAM Investors LLC’s holdings in Lumentum were worth $5,082,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of LITE. UMB Bank n.a. raised its position in Lumentum by 301.2% in the 4th quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock valued at $28,000 after buying an additional 253 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Lumentum by 54.2% during the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock worth $31,000 after acquiring an additional 130 shares in the last quarter. J.Safra Asset Management Corp grew its stake in shares of Lumentum by 31.1% during the 4th quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company’s stock worth $43,000 after acquiring an additional 122 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Lumentum by 27.2% in the fourth quarter. Quadrant Capital Group LLC now owns 766 shares of the technology company’s stock valued at $64,000 after purchasing an additional 164 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Lumentum in the fourth quarter worth $67,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Lumentum Stock Performance

Shares of LITE stock opened at $52.69 on Wednesday. Lumentum Holdings Inc. has a 52 week low of $38.29 and a 52 week high of $104.00. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of -6.85 and a beta of 1.14. The company has a 50-day simple moving average of $66.08 and a 200 day simple moving average of $75.65. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76.

Lumentum (NASDAQ:LITE) last posted its earnings results on Thursday, February 13th. The technology company reported ($0.14) EPS 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 7.25%. On average, sell-side analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Insider Activity at Lumentum

In other news, CFO Wajid Ali sold 2,172 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total transaction of $170,154.48. Following the completion of the sale, the chief financial officer now directly owns 51,976 shares in the company, valued at approximately $4,071,799.84. This represents a 4.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LITE. Needham & Company LLC reiterated a “buy” rating and issued a $110.00 price target on shares of Lumentum in a research note on Friday, February 7th. Rosenblatt Securities reiterated a “buy” rating and set a $110.00 target price on shares of Lumentum in a report on Friday, February 7th. Northland Capmk upgraded Lumentum from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. BNP Paribas upgraded Lumentum from a “neutral” rating to an “outperform” rating and set a $92.00 price objective on the stock in a research note on Tuesday, March 11th. Finally, UBS Group increased their price objective on Lumentum from $93.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.