GSA Capital Partners LLP Takes Position in Lumentum Holdings Inc. (NASDAQ:LITE)

GSA Capital Partners LLP purchased a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 3,622 shares of the technology company’s stock, valued at approximately $230,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Lumentum by 0.3% in the first quarter. Vanguard Group Inc. now owns 7,218,293 shares of the technology company’s stock valued at $341,786,000 after acquiring an additional 22,088 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Lumentum by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,703,969 shares of the technology company’s stock valued at $86,760,000 after purchasing an additional 130,838 shares during the last quarter. Swedbank AB bought a new stake in shares of Lumentum during the 1st quarter worth about $71,025,000. Van Lanschot Kempen Investment Management N.V. grew its stake in shares of Lumentum by 17.8% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,154,805 shares of the technology company’s stock valued at $58,803,000 after acquiring an additional 174,828 shares in the last quarter. Finally, Divisar Capital Management LLC grew its holdings in shares of Lumentum by 5.8% during the 2nd quarter. Divisar Capital Management LLC now owns 961,574 shares of the technology company’s stock worth $48,963,000 after purchasing an additional 52,300 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Lumentum Trading Up 4.1 %

NASDAQ LITE opened at $89.09 on Monday. The stock’s 50-day simple moving average is $69.43 and its two-hundred day simple moving average is $56.99. Lumentum Holdings Inc. has a twelve month low of $38.28 and a twelve month high of $90.51. The company has a quick ratio of 4.04, a current ratio of 5.36 and a debt-to-equity ratio of 2.87. The company has a market capitalization of $6.12 billion, a price-to-earnings ratio of -10.76 and a beta of 0.88.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Bank of America boosted their price objective on Lumentum from $45.00 to $50.00 and gave the stock an “underperform” rating in a research report on Thursday, August 15th. Raymond James lifted their price target on shares of Lumentum from $70.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Northland Securities upped their target price on shares of Lumentum from $45.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, November 8th. Susquehanna lifted their target price on shares of Lumentum from $80.00 to $115.00 and gave the stock a “positive” rating in a research report on Friday, November 8th. Finally, Barclays increased their price objective on Lumentum from $40.00 to $80.00 and gave the company an “underweight” rating in a report on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Lumentum presently has a consensus rating of “Hold” and an average price target of $74.85.

Insiders Place Their Bets

In other news, Director Harold L. Covert sold 15,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $87.17, for a total value of $1,307,550.00. Following the sale, the director now directly owns 8,761 shares of the company’s stock, valued at approximately $763,696.37. This represents a 63.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Matthew Joseph Sepe sold 8,172 shares of Lumentum stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $87.60, for a total value of $715,867.20. Following the completion of the sale, the chief accounting officer now owns 21,138 shares of the company’s stock, valued at $1,851,688.80. The trade was a 27.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,142 shares of company stock valued at $2,428,743 over the last quarter. 0.19% of the stock is owned by corporate insiders.

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. 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.