Bridge City Capital LLC Has $1.54 Million Position in Lumentum Holdings Inc. (NASDAQ:LITE)

Bridge City Capital LLC lifted its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 0.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,607 shares of the technology company’s stock after purchasing an additional 242 shares during the quarter. Bridge City Capital LLC’s holdings in Lumentum were worth $1,544,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. FengHe Fund Management Pte. Ltd. acquired a new position in shares of Lumentum during the fourth quarter worth $19,547,000. International Assets Investment Management LLC acquired a new position in Lumentum in the 4th quarter worth about $1,379,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Lumentum in the fourth quarter valued at about $1,389,000. Dimensional Fund Advisors LP boosted its stake in shares of Lumentum by 3.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,491,502 shares of the technology company’s stock valued at $78,187,000 after purchasing an additional 44,291 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Lumentum by 52.7% during the third quarter. Envestnet Asset Management Inc. now owns 211,684 shares of the technology company’s stock worth $9,564,000 after purchasing an additional 73,047 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Barclays dropped their price objective on shares of Lumentum from $40.00 to $38.00 and set an “underweight” rating for the company in a report on Tuesday, May 7th. StockNews.com raised shares of Lumentum to a “sell” rating in a research note on Monday, May 6th. Needham & Company LLC lowered their target price on Lumentum from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, May 20th. Raymond James upped their price target on Lumentum from $51.50 to $58.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Finally, B. Riley lowered their price objective on Lumentum from $41.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $52.25.

Lumentum Trading Up 0.5 %

LITE traded up $0.26 during trading on Monday, hitting $48.92. The company’s stock had a trading volume of 117,901 shares, compared to its average volume of 1,306,819. Lumentum Holdings Inc. has a twelve month low of $35.35 and a twelve month high of $60.99. The company has a debt-to-equity ratio of 2.13, a current ratio of 5.20 and a quick ratio of 3.87. The stock’s fifty day moving average price is $44.82 and its 200-day moving average price is $48.23.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Monday, May 6th. The technology company reported ($0.18) EPS for the quarter, meeting the consensus estimate of ($0.18). The firm had revenue of $366.50 million during the quarter, compared to the consensus estimate of $366.53 million. Lumentum had a negative return on equity of 1.72% and a negative net margin of 24.91%. As a group, sell-side analysts predict that Lumentum Holdings Inc. will post -0.64 earnings per share for the current fiscal year.

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.