Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $1.27 Million Position in Lumentum Holdings Inc. (NASDAQ:LITE)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 1.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 15,173 shares of the technology company’s stock after acquiring an additional 206 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Lumentum were worth $1,274,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in LITE. Charles Schwab Investment Management Inc. grew its stake in shares of Lumentum by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 738,155 shares of the technology company’s stock worth $46,784,000 after purchasing an additional 37,109 shares during the period. West Tower Group LLC bought a new position in Lumentum during the third quarter worth about $444,000. Goodman Financial Corp boosted its holdings in Lumentum by 1.3% during the third quarter. Goodman Financial Corp now owns 259,618 shares of the technology company’s stock worth $16,455,000 after buying an additional 3,355 shares during the last quarter. Eventide Asset Management LLC acquired a new position in shares of Lumentum during the 3rd quarter worth about $1,675,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Lumentum in the 3rd quarter valued at about $17,981,000. Institutional investors own 94.05% of the company’s stock.

Insider Activity at Lumentum

In related news, CFO Wajid Ali sold 2,172 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total value of $170,154.48. Following the completion of the transaction, the chief financial officer now directly owns 51,976 shares of the company’s stock, valued at approximately $4,071,799.84. This trade represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Barclays upgraded shares of Lumentum from an “underweight” rating to an “overweight” rating and boosted their price objective for the company from $80.00 to $125.00 in a report on Friday, January 17th. UBS Group boosted their price target on shares of Lumentum from $93.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Northland Securities raised their price objective on Lumentum from $60.00 to $70.00 and gave the stock a “market perform” rating in a research note on Friday, February 7th. Needham & Company LLC reissued a “buy” rating and issued a $110.00 target price on shares of Lumentum in a research note on Friday, February 7th. Finally, Stifel Nicolaus raised their price target on Lumentum from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.40.

Lumentum Price Performance

Shares of LITE opened at $71.07 on Wednesday. The company has a 50 day moving average of $76.87 and a 200-day moving average of $76.04. The company has a quick ratio of 3.60, a current ratio of 4.76 and a debt-to-equity ratio of 2.94. The stock has a market capitalization of $4.92 billion, a P/E ratio of -9.24 and a beta of 1.03. Lumentum Holdings Inc. has a twelve month low of $38.29 and a twelve month high of $104.00.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (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%. As a group, equities research analysts forecast that Lumentum Holdings Inc. will post 0.03 EPS 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.