D. E. Shaw & Co. Inc. Has $626,000 Stake in Lumentum Holdings Inc (LITE)

D. E. Shaw & Co. Inc. boosted its stake in Lumentum Holdings Inc (NASDAQ:LITE) by 29.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,890 shares of the technology company’s stock after purchasing an additional 3,380 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Lumentum were worth $626,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Intellectus Partners LLC lifted its position in Lumentum by 4,000.0% in the 4th quarter. Intellectus Partners LLC now owns 1,025 shares of the technology company’s stock valued at $43,000 after acquiring an additional 1,000 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Lumentum during the 4th quarter worth approximately $248,000. 1492 Capital Management LLC increased its stake in shares of Lumentum by 41.1% during the 4th quarter. 1492 Capital Management LLC now owns 65,528 shares of the technology company’s stock worth $2,753,000 after purchasing an additional 19,072 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Lumentum by 15.8% during the 4th quarter. Principal Financial Group Inc. now owns 327,500 shares of the technology company’s stock worth $13,758,000 after purchasing an additional 44,667 shares during the last quarter. Finally, Lido Advisors LLC purchased a new position in Lumentum in the 4th quarter valued at approximately $246,000. Institutional investors and hedge funds own 87.32% of the company’s stock.

In other Lumentum news, Director Harold L. Covert sold 3,017 shares of the company’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $46.01, for a total transaction of $138,812.17. Following the completion of the sale, the director now directly owns 20,000 shares of the company’s stock, valued at $920,200. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jason Reinhardt sold 9,575 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $50.38, for a total transaction of $482,388.50. Following the sale, the executive vice president now directly owns 63,877 shares of the company’s stock, valued at $3,218,123.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,617 shares of company stock valued at $768,579. 0.55% of the stock is owned by corporate insiders.

A number of research analysts recently weighed in on the stock. TheStreet upgraded shares of Lumentum from a “c+” rating to a “b-” rating in a research note on Wednesday, April 17th. Northland Securities reiterated a “buy” rating and set a $70.00 price target on shares of Lumentum in a research report on Monday, April 22nd. BidaskClub cut shares of Lumentum from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. Zacks Investment Research upgraded shares of Lumentum from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Finally, UBS Group reissued a “buy” rating and set a $70.00 price objective on shares of Lumentum in a research note on Thursday, April 11th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $69.53.

Lumentum stock traded up $1.15 during midday trading on Friday, reaching $63.74. 1,101,432 shares of the company traded hands, compared to its average volume of 1,556,395. The company has a market cap of $4.85 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 1.17 and a beta of 0.68. Lumentum Holdings Inc has a 12 month low of $37.00 and a 12 month high of $69.95. The company has a quick ratio of 3.24, a current ratio of 4.17 and a debt-to-equity ratio of 0.53.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Tuesday, February 5th. The technology company reported $1.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.15. The company had revenue of $373.70 million for the quarter, compared to the consensus estimate of $365.08 million. Lumentum had a net margin of 7.50% and a return on equity of 20.24%. The firm’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.67 earnings per share. Sell-side analysts expect that Lumentum Holdings Inc will post 3.31 EPS for the current fiscal year.

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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 and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.

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Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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