Semanteon Capital Management LP Invests $1.46 Million in Lumentum Holdings Inc. (NASDAQ:LITE)

Semanteon Capital Management LP purchased a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 17,424 shares of the technology company’s stock, valued at approximately $1,463,000. Lumentum accounts for 0.8% of Semanteon Capital Management LP’s investment portfolio, making the stock its 18th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of LITE. J.Safra Asset Management Corp increased its position in Lumentum by 31.1% during the 4th quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company’s stock valued at $43,000 after purchasing an additional 122 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Lumentum by 54.2% during the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock valued at $31,000 after purchasing an additional 130 shares in the last quarter. Crossmark Global Holdings Inc. increased its position 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. Manchester Capital Management LLC increased its position in shares of Lumentum by 22.6% during the fourth quarter. Manchester Capital Management LLC now owns 1,029 shares of the technology company’s stock valued at $86,000 after buying an additional 190 shares during the period. Finally, Synovus Financial Corp raised its stake in Lumentum by 1.5% in the third quarter. Synovus Financial Corp now owns 13,225 shares of the technology company’s stock worth $838,000 after buying an additional 200 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. UBS Group upped their price target on Lumentum from $93.00 to $96.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Northland Securities increased their price target on shares of Lumentum from $60.00 to $70.00 and gave the stock a “market perform” rating in a research note on Friday, February 7th. Stifel Nicolaus boosted their price objective on shares of Lumentum from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. B. Riley raised their target price on shares of Lumentum from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, BNP Paribas raised Lumentum from a “neutral” rating to an “outperform” rating and set a $92.00 price target on the stock in a research report on Tuesday, March 11th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Lumentum has an average rating of “Moderate Buy” and an average price target of $88.33.

Insider Activity at Lumentum

In other Lumentum news, CFO Wajid Ali sold 2,172 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total value of $170,154.48. Following the transaction, the chief financial officer now owns 51,976 shares in the company, valued at approximately $4,071,799.84. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Lumentum Stock Performance

NASDAQ LITE opened at $68.83 on Friday. Lumentum Holdings Inc. has a fifty-two week low of $38.29 and a fifty-two week high of $104.00. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76. The firm has a market capitalization of $4.76 billion, a P/E ratio of -8.95 and a beta of 1.03. The stock has a 50-day simple moving average of $77.71 and a two-hundred day simple moving average of $75.41.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.41). Lumentum had a negative return on equity of 7.25% and a negative net margin of 36.98%. On average, equities analysts forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

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.