Lumentum Holdings Inc. (NASDAQ:LITE) Position Increased by Manchester Capital Management LLC

Manchester Capital Management LLC raised its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 22.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,029 shares of the technology company’s stock after buying an additional 190 shares during the period. Manchester Capital Management LLC’s holdings in Lumentum were worth $86,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Atreides Management LP boosted its stake in Lumentum by 28.5% in the 3rd quarter. Atreides Management LP now owns 1,691,017 shares of the technology company’s stock worth $107,177,000 after purchasing an additional 375,389 shares during the period. Geode Capital Management LLC boosted its stake in Lumentum by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,186,163 shares of the technology company’s stock worth $75,198,000 after purchasing an additional 15,799 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Lumentum by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 738,155 shares of the technology company’s stock worth $46,784,000 after purchasing an additional 37,109 shares during the period. Pinnacle Associates Ltd. boosted its stake in Lumentum by 50.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 407,789 shares of the technology company’s stock worth $25,846,000 after purchasing an additional 136,659 shares during the period. Finally, Emerald Advisers LLC boosted its stake in Lumentum by 29.1% in the 3rd quarter. Emerald Advisers LLC now owns 378,535 shares of the technology company’s stock worth $23,992,000 after purchasing an additional 85,353 shares during the period. 94.05% of the stock is currently owned by institutional investors.

Lumentum Stock Performance

Shares of LITE opened at $77.68 on Friday. The company has a market capitalization of $5.34 billion, a PE ratio of -10.10 and a beta of 0.94. Lumentum Holdings Inc. has a one year low of $38.28 and a one year high of $104.00. The company has a debt-to-equity ratio of 2.87, a current ratio of 5.36 and a quick ratio of 4.04. The company’s fifty day moving average price is $86.50 and its 200 day moving average price is $72.58.

Lumentum (NASDAQ:LITE) last announced its earnings results on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative return on equity of 7.00% and a negative net margin of 36.98%. As a group, analysts expect that Lumentum Holdings Inc. will post -0.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Northland Securities raised their price objective on shares of Lumentum from $60.00 to $70.00 and gave the stock a “market perform” rating in a research note on Friday, February 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $110.00 target price on shares of Lumentum in a research report on Friday, February 7th. Morgan Stanley cut their target price on shares of Lumentum from $83.00 to $81.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. B. Riley increased their target price on shares of Lumentum from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, Susquehanna increased 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. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $88.07.

Insider Buying and Selling

In related news, Director Penny Herscher sold 1,625 shares of Lumentum stock in a transaction on Monday, November 18th. The shares were sold at an average price of $81.09, for a total value of $131,771.25. Following the transaction, the director now owns 6,852 shares in the company, valued at $555,628.68. This trade represents a 19.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Harold L. Covert sold 3,345 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $81.78, for a total transaction of $273,554.10. Following the completion of the sale, the director now owns 8,729 shares in the company, valued at $713,857.62. This represents a 27.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,625 shares of company stock worth $6,858,010 in the last quarter. 0.19% of the stock is currently owned by company insiders.

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.