Lumentum Holdings Inc. (NASDAQ:LITE) Stock Holdings Decreased by Whalen Wealth Management Inc.

Whalen Wealth Management Inc. lessened its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 74.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,801 shares of the technology company’s stock after selling 8,161 shares during the period. Whalen Wealth Management Inc.’s holdings in Lumentum were worth $235,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Crossmark Global Holdings Inc. lifted its holdings in Lumentum by 4.0% during the 4th quarter. Crossmark Global Holdings Inc. now owns 4,350 shares of the technology company’s stock worth $365,000 after buying an additional 168 shares during the last quarter. UMB Bank n.a. lifted its stake in Lumentum by 301.2% during the fourth quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock worth $28,000 after purchasing an additional 253 shares during the last quarter. Hanseatic Management Services Inc. acquired a new position in Lumentum in the fourth quarter worth $1,165,000. Assenagon Asset Management S.A. bought a new stake in Lumentum during the fourth quarter valued at $2,723,000. Finally, Friedenthal Financial acquired a new stake in shares of Lumentum during the fourth quarter worth $773,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Raymond James boosted their price objective on shares of Lumentum from $70.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and set a $110.00 price target on shares of Lumentum in a research report on Thursday, January 9th. Barclays upgraded Lumentum from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $80.00 to $125.00 in a research note on Friday, January 17th. Northland Securities raised their target price on Lumentum from $45.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, November 8th. Finally, Susquehanna upped their price target 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. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently 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, Director Harold L. Covert sold 15,000 shares of Lumentum stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $87.17, for a total transaction of $1,307,550.00. Following the transaction, the director now directly owns 8,761 shares in the company, valued at approximately $763,696.37. The trade was a 63.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Wajid Ali sold 29,887 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $85.06, for a total value of $2,542,188.22. Following the completion of the sale, the chief financial officer now owns 56,492 shares of the company’s stock, valued at $4,805,209.52. The trade was a 34.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,797 shares of company stock valued at $8,881,428. Corporate insiders own 0.19% of the company’s stock.

Lumentum Stock Performance

Shares of LITE stock opened at $100.38 on Thursday. The stock has a 50-day simple moving average of $87.34 and a 200 day simple moving average of $69.14. Lumentum Holdings Inc. has a fifty-two week low of $38.28 and a fifty-two week high of $104.00. The company has a quick ratio of 4.04, a current ratio of 5.36 and a debt-to-equity ratio of 2.87.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.48). Lumentum had a negative return on equity of 6.79% and a negative net margin of 40.70%. The business had revenue of $336.90 million during the quarter, compared to analyst estimates of $326.94 million. During the same period in the prior year, the firm earned ($0.10) EPS. On average, equities analysts predict that Lumentum Holdings Inc. will post -0.02 earnings per share for the current year.

About Lumentum

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.