Lumentum Holdings Inc. (NASDAQ:LITE) Shares Sold by Inspire Investing LLC

Inspire Investing LLC trimmed its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 26.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,800 shares of the technology company’s stock after selling 1,683 shares during the quarter. Inspire Investing LLC’s holdings in Lumentum were worth $403,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of LITE. Signaturefd LLC raised its position in Lumentum by 13.8% during the third quarter. Signaturefd LLC now owns 1,302 shares of the technology company’s stock worth $83,000 after acquiring an additional 158 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Lumentum by 4.0% in the 4th quarter. Crossmark Global Holdings Inc. now owns 4,350 shares of the technology company’s stock valued at $365,000 after purchasing an additional 168 shares during the last quarter. Synovus Financial Corp grew its stake in shares of Lumentum by 1.5% during the 3rd quarter. Synovus Financial Corp now owns 13,225 shares of the technology company’s stock valued at $838,000 after buying an additional 200 shares during the period. Quarry LP increased its holdings in shares of Lumentum by 85.5% during the 3rd quarter. Quarry LP now owns 436 shares of the technology company’s stock worth $28,000 after buying an additional 201 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of Lumentum by 301.2% in the 4th quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock worth $28,000 after buying an additional 253 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Lumentum Stock Performance

Shares of LITE opened at $95.65 on Friday. The company has a debt-to-equity ratio of 2.87, a current ratio of 5.36 and a quick ratio of 4.04. Lumentum Holdings Inc. has a 12-month low of $38.28 and a 12-month high of $104.00. The business’s fifty day moving average price is $87.91 and its 200 day moving average price is $69.72. The stock has a market capitalization of $6.57 billion, a PE ratio of -11.55 and a beta of 0.94.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $110.00 target price on shares of Lumentum in a report on Thursday, January 9th. Barclays raised shares of Lumentum from an “underweight” rating to an “overweight” rating and raised their price target for the company from $80.00 to $125.00 in a report on Friday, January 17th. Northland Securities boosted their price objective 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. Morgan Stanley boosted their price target on Lumentum from $76.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Finally, Raymond James lifted their price objective on Lumentum from $70.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.92.

Insider Buying and Selling at Lumentum

In related news, Director Penny Herscher sold 1,625 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $81.09, for a total transaction of $131,771.25. Following the completion of the transaction, the director now owns 6,852 shares in the company, valued at $555,628.68. The trade was a 19.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Vincent Retort sold 41,710 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.52, for a total value of $3,733,879.20. Following the transaction, the insider now owns 147,515 shares of the company’s stock, valued at approximately $13,205,542.80. The trade was a 22.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,797 shares of company stock worth $8,881,428 over the last ninety days. Company insiders own 0.19% of the company’s stock.

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.