Robeco Schweiz AG Sells 426,000 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Robeco Schweiz AG lowered its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 50.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 417,000 shares of the technology company’s stock after selling 426,000 shares during the quarter. Robeco Schweiz AG’s holdings in Lumentum were worth $35,007,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in LITE. Creative Planning increased its holdings in shares of Lumentum by 36.0% during the third quarter. Creative Planning now owns 6,914 shares of the technology company’s stock worth $438,000 after buying an additional 1,831 shares in the last quarter. Signaturefd LLC increased its holdings in Lumentum by 13.8% during the 3rd quarter. Signaturefd LLC now owns 1,302 shares of the technology company’s stock valued at $83,000 after purchasing an additional 158 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Lumentum by 6,238.0% during the 3rd quarter. International Assets Investment Management LLC now owns 21,169 shares of the technology company’s stock valued at $1,342,000 after purchasing an additional 20,835 shares in the last quarter. State of Alaska Department of Revenue raised its position in Lumentum by 7.3% in the 3rd 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 last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in Lumentum by 50.4% in the third 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 in the last quarter. 94.05% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Wajid Ali sold 2,172 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total value of $170,154.48. Following the completion of the transaction, 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 at this hyperlink. 0.19% of the stock is currently owned by company insiders.

Lumentum Stock Performance

LITE stock opened at $72.50 on Thursday. Lumentum Holdings Inc. has a twelve month low of $38.28 and a twelve month high of $104.00. The company has a quick ratio of 3.60, a current ratio of 4.76 and a debt-to-equity ratio of 2.94. The company has a market cap of $5.02 billion, a P/E ratio of -9.43 and a beta of 0.94. The business’s fifty day moving average is $84.23 and its 200-day moving average is $74.31.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) 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%. Equities research analysts forecast that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Jefferies Financial Group started coverage on Lumentum in a research note on Friday, February 21st. They issued a “buy” rating for the company. B. Riley raised their price objective on shares of Lumentum from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Raymond James boosted their target price on shares of Lumentum from $94.00 to $96.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Rosenblatt Securities reissued a “buy” rating and set a $110.00 price target on shares of Lumentum in a research note on Friday, February 7th. Finally, UBS Group raised their price target on shares of Lumentum from $93.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Two equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $88.07.

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 (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.