Alliancebernstein L.P. decreased its holdings in shares of Lumentum Holdings Inc (NASDAQ:LITE) by 27.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,409,807 shares of the technology company’s stock after selling 539,186 shares during the period. Alliancebernstein L.P.’s holdings in Lumentum were worth $68,940,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SeaCrest Wealth Management LLC bought a new position in Lumentum during the 4th quarter valued at approximately $128,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Lumentum by 42.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,797 shares of the technology company’s stock valued at $186,000 after purchasing an additional 1,135 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in Lumentum during the 3rd quarter valued at approximately $234,000. CIBC Asset Management Inc bought a new position in shares of Lumentum in the 4th quarter worth approximately $236,000. Finally, First Allied Advisory Services Inc. bought a new position in shares of Lumentum in the 3rd quarter worth approximately $237,000.
LITE has been the subject of several research reports. Zacks Investment Research lowered Lumentum from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. BidaskClub lowered Lumentum from a “hold” rating to a “sell” rating in a research report on Saturday, December 2nd. DA Davidson increased their target price on Lumentum to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. B. Riley reissued a “buy” rating and issued a $89.00 target price on shares of Lumentum in a research report on Friday, January 5th. Finally, Morgan Stanley set a $60.00 target price on Lumentum and gave the stock a “hold” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $73.19.
Lumentum Holdings Inc (NASDAQ:LITE) opened at $68.98 on Monday. Lumentum Holdings Inc has a 52-week low of $40.35 and a 52-week high of $69.25. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.16 and a current ratio of 4.84. The firm has a market capitalization of $4,300.00 and a P/E ratio of 25.17.
Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.67. Lumentum had a return on equity of 24.06% and a net margin of 8.97%. The company had revenue of $404.60 million during the quarter, compared to analyst estimates of $357.03 million. During the same quarter last year, the company earned $0.57 EPS. The firm’s revenue for the quarter was up 52.7% on a year-over-year basis. equities analysts forecast that Lumentum Holdings Inc will post 2.85 earnings per share for the current year.
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Lumentum Holdings Inc is a provider of optical and photonic products for a range of end market applications, including data communications (Datacom) and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Company operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers).
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