Lumentum Holdings Inc. (NASDAQ:LITE) Shares Sold by Whalen Wealth Management Inc.

Whalen Wealth Management Inc. lessened its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 74.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,801 shares of the technology company’s stock after selling 8,161 shares during the quarter. Whalen Wealth Management Inc.’s holdings in Lumentum were worth $235,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Signaturefd LLC raised its stake in Lumentum by 13.8% in 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 during the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of Lumentum by 4.0% during the fourth quarter. Crossmark Global Holdings Inc. now owns 4,350 shares of the technology company’s stock valued at $365,000 after buying an additional 168 shares during the period. Synovus Financial Corp boosted its position in Lumentum by 1.5% during the third quarter. Synovus Financial Corp now owns 13,225 shares of the technology company’s stock worth $838,000 after acquiring an additional 200 shares during the last quarter. Quarry LP grew its stake in Lumentum by 85.5% in the 3rd quarter. Quarry LP now owns 436 shares of the technology company’s stock worth $28,000 after acquiring an additional 201 shares during the period. Finally, UMB Bank n.a. raised its holdings in Lumentum by 301.2% in the 4th quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock valued at $28,000 after acquiring an additional 253 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Lumentum Price Performance

NASDAQ:LITE opened at $100.38 on Thursday. The business’s 50-day moving average is $87.34 and its two-hundred day moving average is $69.14. Lumentum Holdings Inc. has a 12 month low of $38.28 and a 12 month high of $104.00. The company has a debt-to-equity ratio of 2.87, a current ratio of 5.36 and a quick ratio of 4.04.

Lumentum (NASDAQ:LITE) last announced its earnings results on Thursday, November 7th. The technology company reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.48). The company had revenue of $336.90 million for the quarter, compared to analysts’ expectations 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 in the previous year, the business posted ($0.10) earnings per share. Equities research analysts anticipate that Lumentum Holdings Inc. will post -0.02 earnings per share for the current fiscal year.

Insider Transactions at Lumentum

In other Lumentum news, insider Vincent Retort sold 41,710 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $89.52, for a total value of $3,733,879.20. Following the transaction, the insider now owns 147,515 shares in the company, valued at $13,205,542.80. The trade was a 22.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Wajid Ali sold 29,887 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $85.06, for a total value of $2,542,188.22. Following the sale, the chief financial officer now owns 56,492 shares of the company’s stock, valued at $4,805,209.52. This represents a 34.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,797 shares of company stock valued at $8,881,428. Corporate insiders own 0.19% of the company’s stock.

Lumentum 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.