Hantz Financial Services Inc. Has $843,000 Stake in Lumentum Holdings Inc. (NASDAQ:LITE)

Hantz Financial Services Inc. cut its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,040 shares of the technology company’s stock after selling 240 shares during the quarter. Hantz Financial Services Inc.’s holdings in Lumentum were worth $843,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Atom Investors LP bought a new position in Lumentum in the 3rd quarter valued at approximately $4,127,000. Two Sigma Advisers LP raised its stake in shares of Lumentum by 24.7% during the third quarter. Two Sigma Advisers LP now owns 186,600 shares of the technology company’s stock valued at $11,827,000 after acquiring an additional 37,000 shares during the last quarter. West Tower Group LLC acquired a new position in shares of Lumentum during the third quarter worth $444,000. Zweig DiMenna Associates LLC bought a new stake in shares of Lumentum in the fourth quarter worth $7,052,000. Finally, Crossmark Global Holdings Inc. increased its holdings in Lumentum by 4.0% in the fourth 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 period. 94.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LITE. Raymond James lifted their target price on Lumentum from $70.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Barclays raised shares of Lumentum from an “underweight” rating to an “overweight” rating and increased their target price for the company from $80.00 to $125.00 in a research report on Friday, January 17th. Morgan Stanley dropped their price target on shares of Lumentum from $83.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday. Susquehanna increased their price objective 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, Needham & Company LLC restated a “buy” rating and issued a $110.00 target price on shares of Lumentum in a report on Thursday, January 9th. 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.77.

Insider Buying and Selling at Lumentum

In other Lumentum news, CFO Wajid Ali sold 29,887 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $85.06, for a total transaction of $2,542,188.22. Following the completion of the sale, the chief financial officer now directly owns 56,492 shares of the company’s stock, valued at approximately $4,805,209.52. The trade was a 34.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Vincent Retort sold 41,710 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $89.52, for a total value of $3,733,879.20. Following the completion of the transaction, the insider now owns 147,515 shares in the company, valued at $13,205,542.80. This represents a 22.04 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, 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 Up 1.3 %

LITE stock opened at $85.06 on Friday. The stock’s 50 day simple moving average is $87.48 and its 200 day simple moving average is $70.40. The company has a market cap of $5.84 billion, a P/E ratio of -10.27 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. Lumentum Holdings Inc. has a fifty-two week low of $38.28 and a fifty-two week high of $104.00.

Lumentum (NASDAQ:LITE) last issued its earnings results on Thursday, November 7th. The technology company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $336.90 million for the quarter, compared to analyst estimates of $326.94 million. During the same period in the previous year, the company earned ($0.10) earnings per share. On average, research analysts expect that Lumentum Holdings Inc. will post -0.02 earnings per share for the current fiscal 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.