Inspire Investing LLC Sells 1,683 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Inspire Investing LLC decreased its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 26.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,800 shares of the technology company’s stock after selling 1,683 shares during the period. Inspire Investing LLC’s holdings in Lumentum were worth $403,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Atreides Management LP lifted its holdings in shares of Lumentum by 28.5% during the 3rd quarter. Atreides Management LP now owns 1,691,017 shares of the technology company’s stock valued at $107,177,000 after purchasing an additional 375,389 shares during the last quarter. Geode Capital Management LLC raised its stake in Lumentum by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,186,163 shares of the technology company’s stock valued at $75,198,000 after buying an additional 15,799 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Lumentum by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 738,155 shares of the technology company’s stock worth $46,784,000 after acquiring an additional 37,109 shares in the last quarter. Pinnacle Associates Ltd. raised its position in shares of Lumentum by 50.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 407,789 shares of the technology company’s stock valued at $25,846,000 after purchasing an additional 136,659 shares during the last quarter. Finally, Emerald Advisers LLC boosted its stake in Lumentum by 29.1% in the 3rd quarter. Emerald Advisers LLC now owns 378,535 shares of the technology company’s stock worth $23,992,000 after purchasing an additional 85,353 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Lumentum from $76.00 to $83.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Lumentum in a report on Thursday, January 9th. Rosenblatt Securities upped their price target on shares of Lumentum from $69.00 to $110.00 and gave the company a “buy” rating in a report on Friday, November 8th. Raymond James upped their target price on Lumentum from $70.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Susquehanna upped their price objective on Lumentum from $80.00 to $115.00 and gave the stock a “positive” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.92.

Lumentum Stock Down 3.7 %

NASDAQ:LITE opened at $95.65 on Friday. The stock’s fifty day moving average is $87.91 and its two-hundred day moving average is $69.72. Lumentum Holdings Inc. has a 52 week low of $38.28 and a 52 week high of $104.00. The company has a quick ratio of 4.04, a current ratio of 5.36 and a debt-to-equity ratio of 2.87. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of -11.55 and a beta of 0.94.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.48). The business had revenue of $336.90 million during the quarter, compared to analyst estimates of $326.94 million. Lumentum had a negative net margin of 40.70% and a negative return on equity of 6.79%. During the same quarter last year, the firm posted ($0.10) EPS. Research analysts anticipate that Lumentum Holdings Inc. will post -0.02 EPS for the current year.

Insider Buying and Selling

In other news, Director Penny Herscher sold 1,625 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $81.09, for a total transaction of $131,771.25. Following the completion of the sale, the director now owns 6,852 shares in the company, valued at approximately $555,628.68. The trade was a 19.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Wajid Ali sold 29,887 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $85.06, for a total transaction of $2,542,188.22. Following the completion of the sale, the chief financial officer now directly owns 56,492 shares of the company’s stock, valued at approximately $4,805,209.52. This trade represents a 34.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,797 shares of company stock worth $8,881,428. Corporate insiders own 0.19% of the company’s stock.

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 (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.