Rothschild & Co. Asset Management US Inc. Buys New Position in Lumentum Holdings Inc (LITE)

Rothschild & Co. Asset Management US Inc. bought a new stake in Lumentum Holdings Inc (NASDAQ:LITE) in the first quarter, HoldingsChannel.com reports. The firm bought 21,959 shares of the technology company’s stock, valued at approximately $1,242,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ellis Investment Partners LLC raised its stake in Lumentum by 5,816.5% during the first quarter. Ellis Investment Partners LLC now owns 1,488,472 shares of the technology company’s stock valued at $1,488,000 after buying an additional 1,463,314 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in Lumentum by 4,834.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,231,145 shares of the technology company’s stock valued at $29,000 after buying an additional 1,206,194 shares during the last quarter. Northern Trust Corp raised its stake in Lumentum by 16.3% during the fourth quarter. Northern Trust Corp now owns 1,158,996 shares of the technology company’s stock valued at $48,688,000 after buying an additional 162,095 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Lumentum by 31.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,131,377 shares of the technology company’s stock valued at $47,529,000 after buying an additional 272,165 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its stake in Lumentum by 2.2% during the first quarter. Eagle Asset Management Inc. now owns 877,374 shares of the technology company’s stock valued at $49,606,000 after buying an additional 19,045 shares during the last quarter. Institutional investors own 86.44% of the company’s stock.

Shares of LITE opened at $44.41 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.96 and a quick ratio of 3.20. Lumentum Holdings Inc has a one year low of $37.00 and a one year high of $69.95. The firm has a market capitalization of $3.39 billion, a P/E ratio of 13.71, a PEG ratio of 1.00 and a beta of 0.68.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.22. Lumentum had a return on equity of 19.94% and a net margin of 1.57%. The company had revenue of $433.00 million during the quarter, compared to analyst estimates of $428.33 million. During the same quarter in the previous year, the company posted $0.78 earnings per share. Lumentum’s revenue was up 44.8% compared to the same quarter last year. Equities research analysts predict that Lumentum Holdings Inc will post 3.17 EPS for the current fiscal year.

In related news, SVP Judy G. Hamel sold 1,429 shares of Lumentum stock in a transaction on Friday, May 10th. The stock was sold at an average price of $58.64, for a total value of $83,796.56. Following the completion of the sale, the senior vice president now owns 44,793 shares of the company’s stock, valued at $2,626,661.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.55% of the company’s stock.

A number of brokerages have issued reports on LITE. Morgan Stanley upgraded Lumentum from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $55.00 to $65.00 in a research note on Wednesday, March 27th. BidaskClub raised Lumentum from a “buy” rating to a “strong-buy” rating in a report on Friday, February 22nd. ValuEngine raised Lumentum from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. Rosenblatt Securities set a $80.00 target price on Lumentum and gave the stock a “buy” rating in a report on Thursday, March 7th. Finally, Northland Securities reissued a “buy” rating and issued a $64.00 target price on shares of Lumentum in a report on Wednesday, March 6th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $67.16.

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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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