Assenagon Asset Management S.A. Acquires Shares of 32,433 Lumentum Holdings Inc. (NASDAQ:LITE)

Assenagon Asset Management S.A. acquired a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 32,433 shares of the technology company’s stock, valued at approximately $2,723,000.

A number of other large investors also recently modified their holdings of LITE. Envestnet Asset Management Inc. boosted its holdings in shares of Lumentum by 2.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 223,622 shares of the technology company’s stock valued at $11,387,000 after buying an additional 4,780 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of 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 buying an additional 130,838 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Lumentum in the 2nd quarter valued at $210,000. Hsbc Holdings PLC boosted its holdings in shares of Lumentum by 95.2% in the 2nd quarter. Hsbc Holdings PLC now owns 9,055 shares of the technology company’s stock valued at $456,000 after buying an additional 4,415 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Lumentum in the 2nd quarter valued at $576,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LITE shares. Susquehanna upped their target price on shares of Lumentum from $80.00 to $115.00 and gave the company a “positive” rating in a report on Friday, November 8th. Morgan Stanley upped their target price on shares of Lumentum from $76.00 to $83.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Barclays upgraded shares of Lumentum from an “underweight” rating to an “overweight” rating and upped their target price for the company from $80.00 to $125.00 in a report on Friday, January 17th. Northland Securities increased their price target on shares of Lumentum from $45.00 to $60.00 and gave the stock a “market perform” rating in a research note on Friday, November 8th. Finally, Rosenblatt Securities increased their price target on shares of Lumentum from $69.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.92.

Insider Buying and Selling at Lumentum

In other Lumentum news, insider Vincent Retort sold 41,710 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.52, for a total transaction of $3,733,879.20. Following the completion of the transaction, the insider now directly owns 147,515 shares in the company, valued at approximately $13,205,542.80. This trade represents a 22.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Matthew Joseph Sepe sold 8,172 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $87.60, for a total transaction of $715,867.20. Following the transaction, the chief accounting officer now owns 21,138 shares of the company’s stock, valued at $1,851,688.80. This trade represents a 27.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 101,797 shares of company stock worth $8,881,428. 0.19% of the stock is owned by corporate insiders.

Lumentum Stock Up 3.2 %

LITE stock opened at $97.45 on Wednesday. Lumentum Holdings Inc. has a one year low of $38.28 and a one year high of $97.76. The stock has a market capitalization of $6.69 billion, a PE ratio of -11.77 and a beta of 0.94. The company has a debt-to-equity ratio of 2.87, a quick ratio of 4.04 and a current ratio of 5.36. The company has a fifty day moving average of $87.09 and a 200-day moving average of $68.92.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.48). The company had revenue of $336.90 million during the quarter, compared to analysts’ expectations of $326.94 million. Lumentum had a negative net margin of 40.70% and a negative return on equity of 6.79%. During the same quarter in the prior year, the business earned ($0.10) EPS. As a group, analysts expect that Lumentum Holdings Inc. will post -0.04 EPS for the current year.

Lumentum 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.