12,000 Shares in Lumentum Holdings Inc. (NASDAQ:LITE) Acquired by P.A.W. Capital Corp

P.A.W. Capital Corp purchased a new position in Lumentum Holdings Inc. (NASDAQ:LITE) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 12,000 shares of the technology company’s stock, valued at approximately $1,007,000. Lumentum comprises 1.9% of P.A.W. Capital Corp’s holdings, making the stock its 13th biggest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Creative Planning boosted its stake in shares of Lumentum by 36.0% during the 3rd quarter. Creative Planning now owns 6,914 shares of the technology company’s stock valued at $438,000 after buying an additional 1,831 shares during the last quarter. Signaturefd LLC increased its position in Lumentum by 13.8% in the third quarter. Signaturefd LLC now owns 1,302 shares of the technology company’s stock worth $83,000 after buying an additional 158 shares during the period. International Assets Investment Management LLC increased its position in Lumentum by 6,238.0% in the third quarter. International Assets Investment Management LLC now owns 21,169 shares of the technology company’s stock worth $1,342,000 after buying an additional 20,835 shares during the period. Mount Yale Investment Advisors LLC acquired a new stake in Lumentum in the third quarter worth $237,000. Finally, State of Alaska Department of Revenue increased its holdings in shares of Lumentum by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 7,848 shares of the technology company’s stock valued at $497,000 after purchasing an additional 535 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Lumentum Stock Performance

LITE opened at $73.35 on Friday. The firm has a market capitalization of $5.08 billion, a P/E ratio of -9.54 and a beta of 0.94. The stock’s 50 day moving average price is $85.22 and its two-hundred day moving average price is $73.69. The company has a quick ratio of 3.60, a current ratio of 4.76 and a debt-to-equity ratio of 2.94. Lumentum Holdings Inc. has a 12-month low of $38.28 and a 12-month high of $104.00.

Lumentum (NASDAQ:LITE) last released its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.41). Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. On average, equities analysts forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Insider Transactions at Lumentum

In related news, CFO Wajid Ali sold 2,172 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total value of $170,154.48. Following the sale, the chief financial officer now owns 51,976 shares of the company’s stock, valued at $4,071,799.84. The trade was a 4.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vincent Retort sold 41,710 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 147,515 shares in the company, valued at approximately $13,205,542.80. This represents a 22.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,769 shares of company stock valued at $6,446,222. 0.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Morgan Stanley lowered their price target on Lumentum from $83.00 to $81.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. B. Riley increased their price target on Lumentum from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Northland Securities raised their price objective on Lumentum from $60.00 to $70.00 and gave the stock a “market perform” rating in a research report on Friday, February 7th. Raymond James raised their price objective on Lumentum from $94.00 to $96.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, UBS Group raised their price target on Lumentum from $93.00 to $96.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $88.07.

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.