Vanguard Personalized Indexing Management LLC Invests $210,000 in Lumentum Holdings Inc. (NASDAQ:LITE)

Vanguard Personalized Indexing Management LLC bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 4,152 shares of the technology company’s stock, valued at approximately $210,000.

A number of other institutional investors have also modified their holdings of LITE. Keeley Teton Advisors LLC lifted its position in Lumentum by 4.2% during the 4th quarter. Keeley Teton Advisors LLC now owns 27,728 shares of the technology company’s stock worth $1,454,000 after acquiring an additional 1,128 shares in the last quarter. S Squared Technology LLC lifted its position in Lumentum by 6.4% during the 4th quarter. S Squared Technology LLC now owns 166,463 shares of the technology company’s stock worth $8,726,000 after acquiring an additional 10,000 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Lumentum by 6.5% in the 4th quarter. Vanguard Group Inc. now owns 7,196,205 shares of the technology company’s stock valued at $377,225,000 after purchasing an additional 442,177 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of Lumentum in the 4th quarter valued at approximately $612,000. Finally, Bridge City Capital LLC raised its position in shares of Lumentum by 0.7% in the 1st quarter. Bridge City Capital LLC now owns 32,607 shares of the technology company’s stock valued at $1,544,000 after purchasing an additional 242 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LITE shares. Morgan Stanley upped their target price on Lumentum from $50.00 to $54.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Needham & Company LLC upped their target price on Lumentum from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. B. Riley upped their price target on Lumentum from $40.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. upped their price target on Lumentum from $57.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Finally, Northland Securities upped their price target on Lumentum from $40.00 to $45.00 and gave the company a “market perform” rating in a research report on Friday, August 16th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Lumentum presently has an average rating of “Hold” and a consensus target price of $59.08.

Lumentum Trading Down 1.8 %

NASDAQ:LITE opened at $63.38 on Tuesday. Lumentum Holdings Inc. has a 1 year low of $35.35 and a 1 year high of $65.52. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of -12.07, a PEG ratio of 4.83 and a beta of 0.88. The business has a fifty day moving average of $53.63 and a 200-day moving average of $49.70. The company has a debt-to-equity ratio of 2.61, a quick ratio of 4.43 and a current ratio of 5.90.

Lumentum (NASDAQ:LITE) last announced its earnings results on Wednesday, August 14th. The technology company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. Lumentum had a negative return on equity of 4.79% and a negative net margin of 40.21%. The business had revenue of $308.30 million during the quarter, compared to analysts’ expectations of $301.36 million. During the same quarter last year, the business posted $0.12 earnings per share. The company’s quarterly revenue was down 16.9% on a year-over-year basis. Equities analysts predict that Lumentum Holdings Inc. will post 0.22 earnings per share for the current year.

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.