Geode Capital Management LLC Increases Holdings in Lumentum Holdings Inc (LITE)

Geode Capital Management LLC raised its position in Lumentum Holdings Inc (NASDAQ:LITE) by 1.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 551,802 shares of the technology company’s stock after purchasing an additional 9,684 shares during the period. Geode Capital Management LLC owned 0.88% of Lumentum worth $26,983,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LITE. SeaCrest Wealth Management LLC purchased a new position in Lumentum in the 4th quarter valued at $128,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Lumentum by 42.6% in 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 in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Lumentum in the 3rd quarter valued at $234,000. CIBC Asset Management Inc purchased a new position in Lumentum in the 4th quarter valued at $236,000. Finally, First Allied Advisory Services Inc. purchased a new position in Lumentum in the 3rd quarter valued at $237,000.

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Lumentum stock opened at $67.35 on Friday. Lumentum Holdings Inc has a fifty-two week low of $40.35 and a fifty-two week high of $74.40. The company has a current ratio of 4.84, a quick ratio of 4.16 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $4,321.62, a price-to-earnings ratio of 46.13, a PEG ratio of 1.31 and a beta of -0.09.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.67 EPS for the quarter, topping the 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 business had revenue of $404.60 million for the quarter, compared to analyst estimates of $357.03 million. During the same quarter in the previous year, the firm earned $0.57 EPS. The company’s quarterly revenue was up 52.7% compared to the same quarter last year. research analysts expect that Lumentum Holdings Inc will post 2.83 earnings per share for the current year.

A number of brokerages have weighed in on LITE. UBS raised their price objective on Lumentum from $62.00 to $80.00 and gave the company a “buy” rating in a report on Thursday. MKM Partners raised their price objective on Lumentum to $88.00 and gave the company a “buy” rating in a report on Wednesday, March 14th. Northland Securities restated a “buy” rating and issued a $95.00 price objective on shares of Lumentum in a report on Monday, March 19th. Barclays upgraded Lumentum from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $65.00 to $67.00 in a report on Wednesday, January 10th. Finally, Loop Capital raised their price objective on Lumentum to $86.00 and gave the company a “buy” rating in a report on Tuesday, March 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $81.00.

In related news, COO Vincent Retort sold 3,112 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $58.97, for a total transaction of $183,514.64. Following the completion of the sale, the chief operating officer now directly owns 92,541 shares of the company’s stock, valued at approximately $5,457,142.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Judy G. Hamel sold 591 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $58.52, for a total value of $34,585.32. Following the sale, the general counsel now directly owns 28,816 shares of the company’s stock, valued at $1,686,312.32. The disclosure for this sale can be found here. Insiders have sold a total of 62,150 shares of company stock valued at $3,800,816 over the last three months. Corporate insiders own 0.76% of the company’s stock.

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Lumentum Company Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. It operates through two segments, Optical Communications and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.

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Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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