B.O.S.S. Retirement Advisors LLC Makes New Investment in Lumentum Holdings Inc. $LITE

B.O.S.S. Retirement Advisors LLC purchased a new position in Lumentum Holdings Inc. (NASDAQ:LITE) during the 4th quarter, HoldingsChannel reports. The firm purchased 678 shares of the technology company’s stock, valued at approximately $250,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Danske Bank A S increased its position in Lumentum by 200.0% in the 4th quarter. Danske Bank A S now owns 600 shares of the technology company’s stock worth $221,000 after buying an additional 400 shares during the period. Wealth High Governance Capital Ltda bought a new position in Lumentum in the 4th quarter worth approximately $20,244,000. Sage Rhino Capital LLC bought a new position in Lumentum in the 4th quarter worth approximately $313,000. Wealthfront Advisers LLC bought a new position in Lumentum in the 4th quarter worth approximately $266,000. Finally, M&T Bank Corp grew its holdings in shares of Lumentum by 5.4% during the 4th quarter. M&T Bank Corp now owns 13,498 shares of the technology company’s stock worth $4,975,000 after purchasing an additional 686 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Lumentum Price Performance

Shares of NASDAQ:LITE opened at $976.18 on Tuesday. The business’s 50 day moving average is $760.12 and its 200-day moving average is $486.41. The company has a current ratio of 0.61, a quick ratio of 0.45 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $69.70 billion, a PE ratio of 299.44 and a beta of 1.53. Lumentum Holdings Inc. has a 1-year low of $60.38 and a 1-year high of $1,004.94.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Tuesday, February 3rd. The technology company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.41 by $0.26. The business had revenue of $665.50 million for the quarter, compared to analyst estimates of $646.74 million. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.Lumentum’s quarterly revenue was up 65.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 EPS. Sell-side analysts predict that Lumentum Holdings Inc. will post 5.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LITE shares. Bank of America lifted their price objective on Lumentum to $520.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Morgan Stanley lifted their price objective on Lumentum from $595.00 to $710.00 and gave the stock an “equal weight” rating in a report on Monday, April 20th. UBS Group lifted their price objective on Lumentum from $215.00 to $455.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. TD Cowen lifted their price objective on Lumentum from $675.00 to $875.00 and gave the stock a “hold” rating in a report on Friday, April 10th. Finally, Mizuho lifted their price objective on Lumentum from $750.00 to $930.00 and gave the stock an “outperform” rating in a report on Wednesday, April 8th. Eleven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $757.25.

Insider Buying and Selling

In related news, insider Yuen Wupen sold 3,157 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $538.00, for a total value of $1,698,466.00. Following the sale, the insider owned 88,439 shares of the company’s stock, valued at $47,580,182. The trade was a 3.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Penny Herscher sold 4,000 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $597.29, for a total value of $2,389,160.00. Following the completion of the sale, the director directly owned 2,057 shares in the company, valued at approximately $1,228,625.53. This represents a 66.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 65,775 shares of company stock worth $38,851,343 in the last quarter. Corporate insiders own 0.43% of the company’s stock.

Lumentum Company Profile

Lumentum Holdings Inc, headquartered in San Jose, California, is a leading provider of photonic technologies that enable high-speed optical communication networks and advanced industrial applications. The company designs and manufactures a broad range of lasers, optical modules and subsystems tailored to the evolving requirements of telecommunications carriers, cloud data centers and enterprise networking.

Its core product portfolio includes tunable and fixed-wavelength laser transmitters, coherent optical engines, transceivers for long-haul, metro and data center interconnects, as well as test and measurement instruments.