Alpine Woods Capital Investors LLC Trims Position in Lumentum Holdings Inc (LITE)

Alpine Woods Capital Investors LLC lowered its position in shares of Lumentum Holdings Inc (NASDAQ:LITE) by 0.8% during the first quarter, Holdings Channel reports. The fund owned 25,400 shares of the technology company’s stock after selling 200 shares during the quarter. Alpine Woods Capital Investors LLC’s holdings in Lumentum were worth $1,436,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of LITE. Meeder Asset Management Inc. bought a new stake in Lumentum during the 4th quarter worth $25,000. Sapphire Star Partners LP bought a new stake in Lumentum during the 4th quarter worth $28,000. Oregon Public Employees Retirement Fund grew its position in Lumentum by 4,834.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,231,145 shares of the technology company’s stock worth $29,000 after acquiring an additional 1,206,194 shares during the last quarter. IFP Advisors Inc grew its position in Lumentum by 121.7% during the 4th quarter. IFP Advisors Inc now owns 949 shares of the technology company’s stock worth $39,000 after acquiring an additional 521 shares during the last quarter. Finally, SevenBridge Financial Group LLC bought a new stake in Lumentum during the 4th quarter worth $39,000. Institutional investors and hedge funds own 88.11% of the company’s stock.

A number of equities research analysts recently weighed in on LITE shares. Morgan Stanley set a $55.00 price objective on Lumentum and gave the stock a “hold” rating in a research report on Monday, January 14th. Zacks Investment Research upgraded Lumentum from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Wednesday, January 16th. Barclays reiterated a “buy” rating and issued a $52.00 price target on shares of Lumentum in a research report on Friday, January 18th. Piper Jaffray Companies reduced their price target on Lumentum from $63.00 to $59.00 and set an “overweight” rating on the stock in a research report on Thursday, January 24th. They noted that the move was a valuation call. Finally, Rosenblatt Securities set a $80.00 price target on Lumentum and gave the company a “buy” rating in a research report on Tuesday, January 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Lumentum currently has a consensus rating of “Buy” and an average price target of $70.37.

NASDAQ LITE opened at $55.46 on Tuesday. Lumentum Holdings Inc has a 12 month low of $37.00 and a 12 month high of $69.95. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of 17.12, a P/E/G ratio of 1.14 and a beta of 0.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.24 and a current ratio of 3.96.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.22. The company had revenue of $433.00 million for the quarter, compared to the consensus estimate of $428.33 million. Lumentum had a return on equity of 19.94% and a net margin of 1.57%. The firm’s revenue was up 44.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 EPS. Equities research analysts expect that Lumentum Holdings Inc will post 3.27 EPS for the current year.

In other news, Director Martin A. Kaplan sold 3,025 shares of the business’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $48.72, for a total value of $147,378.00. Following the transaction, the director now directly owns 18,902 shares of the company’s stock, valued at approximately $920,905.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harold L. Covert sold 3,017 shares of the business’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $46.01, for a total value of $138,812.17. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $920,200. The disclosure for this sale can be found here. Insiders sold a total of 17,046 shares of company stock worth $852,375 over the last three months. 0.55% of the stock is owned by company insiders.

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Lumentum Company 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 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.

Further Reading: What is diluted earnings per share (Diluted EPS)?

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Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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