Hsbc Holdings PLC bought a new stake in shares of Lumentum Holdings Inc (NASDAQ:LITE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 30,547 shares of the technology company’s stock, valued at approximately $1,283,000.
Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc grew its position in shares of Lumentum by 2.8% during the 3rd quarter. Vanguard Group Inc now owns 5,608,582 shares of the technology company’s stock valued at $336,234,000 after acquiring an additional 154,751 shares during the period. Vanguard Group Inc. grew its position in shares of Lumentum by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 5,608,582 shares of the technology company’s stock valued at $336,234,000 after acquiring an additional 154,751 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of Lumentum by 4,834.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,231,145 shares of the technology company’s stock valued at $29,000 after acquiring an additional 1,206,194 shares during the period. Northern Trust Corp grew its position in shares of Lumentum by 16.3% during the 4th quarter. Northern Trust Corp now owns 1,158,996 shares of the technology company’s stock valued at $48,688,000 after acquiring an additional 162,095 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Lumentum by 5.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 859,212 shares of the technology company’s stock valued at $51,513,000 after acquiring an additional 44,206 shares during the period. 85.35% of the stock is owned by hedge funds and other institutional investors.
In other Lumentum news, Director Martin A. Kaplan sold 3,025 shares of the stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $48.72, for a total value of $147,378.00. Following the sale, the director now directly owns 18,902 shares in the company, valued at approximately $920,905.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harold L. Covert sold 3,017 shares of the stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $46.01, for a total transaction of $138,812.17. Following the completion of the sale, the director now owns 20,000 shares in the company, valued at $920,200. The disclosure for this sale can be found here. Insiders sold a total of 15,617 shares of company stock worth $768,579 over the last quarter. Corporate insiders own 0.55% of the company’s stock.
Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, February 5th. The technology company reported $1.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.15. Lumentum had a net margin of 7.50% and a return on equity of 20.24%. The company had revenue of $373.70 million during the quarter, compared to the consensus estimate of $365.08 million. During the same period last year, the firm earned $1.67 EPS. Lumentum’s revenue for the quarter was down 7.6% on a year-over-year basis. On average, equities analysts expect that Lumentum Holdings Inc will post 3.37 earnings per share for the current year.
A number of research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Lumentum from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Wednesday, January 16th. Needham & Company LLC reissued a “strong-buy” rating on shares of Lumentum in a research report on Monday, March 18th. BidaskClub downgraded shares of Lumentum from a “strong-buy” rating to a “buy” rating in a report on Thursday. JPMorgan Chase & Co. raised shares of Lumentum from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $50.00 to $65.00 in a report on Friday. Finally, ValuEngine downgraded shares of Lumentum from a “hold” rating to a “sell” rating in a report on Friday, December 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Lumentum currently has a consensus rating of “Buy” and an average target price of $68.58.
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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 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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