TCW Group Inc. Makes New Investment in Lumentum Holdings Inc. (NASDAQ:LITE)

TCW Group Inc. bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 19,377 shares of the technology company’s stock, valued at approximately $1,627,000.

Several other hedge funds also recently bought and sold shares of LITE. UMB Bank n.a. grew its holdings in shares of Lumentum by 301.2% in the fourth quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock valued at $28,000 after purchasing an additional 253 shares in the last quarter. Quarry LP grew its holdings in shares of Lumentum by 85.5% in the third quarter. Quarry LP now owns 436 shares of the technology company’s stock valued at $28,000 after purchasing an additional 201 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Lumentum in the third quarter valued at approximately $33,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of Lumentum by 67.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company’s stock valued at $42,000 after purchasing an additional 270 shares in the last quarter. Finally, Manchester Capital Management LLC grew its holdings in shares of Lumentum by 22.6% in the fourth quarter. Manchester Capital Management LLC now owns 1,029 shares of the technology company’s stock valued at $86,000 after purchasing an additional 190 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 research analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of Lumentum from $93.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Morgan Stanley dropped their price objective on shares of Lumentum from $83.00 to $81.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Barclays upgraded shares of Lumentum from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $80.00 to $125.00 in a report on Friday, January 17th. B. Riley lifted their price target on shares of Lumentum from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Finally, Susquehanna lifted their price target on shares of Lumentum from $80.00 to $115.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lumentum currently has a consensus rating of “Hold” and a consensus target price of $88.07.

Insider Activity

In other news, CFO Wajid Ali sold 2,172 shares of Lumentum 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 transaction, the chief financial officer now directly owns 51,976 shares of the company’s stock, valued at $4,071,799.84. The trade was a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.19% of the company’s stock.

Lumentum Stock Down 1.2 %

Shares of NASDAQ:LITE opened at $72.47 on Tuesday. The company has a market capitalization of $5.01 billion, a PE ratio of -9.42 and a beta of 0.94. The company has a current ratio of 4.76, a quick ratio of 3.60 and a debt-to-equity ratio of 2.94. Lumentum Holdings Inc. has a twelve month low of $38.28 and a twelve month high of $104.00. The firm has a 50 day simple moving average of $84.81 and a 200-day simple moving average of $74.13.

Lumentum (NASDAQ:LITE) last announced its earnings results on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates 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, equities analysts predict 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.