Lumentum Holdings Inc. (NASDAQ:LITE) Shares Acquired by Signaturefd LLC

Signaturefd LLC increased its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 93.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,144 shares of the technology company’s stock after acquiring an additional 554 shares during the quarter. Signaturefd LLC’s holdings in Lumentum were worth $58,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LITE. CENTRAL TRUST Co boosted its stake in Lumentum by 714.3% in the 1st quarter. CENTRAL TRUST Co now owns 1,140 shares of the technology company’s stock worth $54,000 after buying an additional 1,000 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Lumentum in the fourth quarter worth approximately $55,000. EntryPoint Capital LLC purchased a new stake in Lumentum in the first quarter valued at approximately $112,000. Perigon Wealth Management LLC acquired a new position in Lumentum during the first quarter worth approximately $236,000. Finally, BNP Paribas purchased a new position in Lumentum during the first quarter worth approximately $238,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Lumentum Stock Performance

LITE stock opened at $55.43 on Thursday. The firm has a 50 day moving average of $52.62 and a two-hundred day moving average of $48.52. Lumentum Holdings Inc. has a 12 month low of $35.35 and a 12 month high of $60.99. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of -10.56, a P/E/G ratio of 4.55 and a beta of 0.88. The company has a quick ratio of 4.43, a current ratio of 5.90 and a debt-to-equity ratio of 2.61.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Wednesday, August 14th. The technology company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. Lumentum had a negative net margin of 40.21% and a negative return on equity of 4.79%. The firm had revenue of $308.30 million during the quarter, compared to analysts’ expectations of $301.36 million. During the same period in the prior year, the company posted $0.12 earnings per share. Lumentum’s revenue for the quarter was down 16.9% on a year-over-year basis. As a group, equities analysts anticipate that Lumentum Holdings Inc. will post 0.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on LITE shares. Barclays increased their target price on Lumentum from $38.00 to $40.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. B. Riley lifted their price objective on Lumentum from $40.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Susquehanna increased their target price on shares of Lumentum from $60.00 to $70.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. Needham & Company LLC lifted their price target on shares of Lumentum from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, Craig Hallum increased their price objective on shares of Lumentum from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $59.08.

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.