Susquehanna Fundamental Investments LLC Grows Stock Position in Lumentum Holdings Inc. (NASDAQ:LITE)

Susquehanna Fundamental Investments LLC boosted its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 106.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,936 shares of the technology company’s stock after acquiring an additional 15,436 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in Lumentum were worth $1,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Lumentum by 0.3% during the first quarter. Vanguard Group Inc. now owns 7,218,293 shares of the technology company’s stock valued at $341,786,000 after purchasing an additional 22,088 shares during the period. Dimensional Fund Advisors LP grew its holdings in Lumentum by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,703,969 shares of the technology company’s stock worth $86,760,000 after acquiring an additional 130,838 shares during the last quarter. Earnest Partners LLC increased its position in shares of Lumentum by 6.0% in the first quarter. Earnest Partners LLC now owns 1,690,117 shares of the technology company’s stock valued at $80,027,000 after acquiring an additional 95,428 shares during the period. Swedbank AB bought a new position in shares of Lumentum during the first quarter valued at about $71,025,000. Finally, Van Lanschot Kempen Investment Management N.V. boosted its holdings in shares of Lumentum by 17.8% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,154,805 shares of the technology company’s stock worth $58,803,000 after purchasing an additional 174,828 shares during the period. 94.05% of the stock is currently owned by institutional investors.

Lumentum Stock Down 3.0 %

Shares of NASDAQ:LITE opened at $61.49 on Wednesday. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of -11.71, a PEG ratio of 4.83 and a beta of 0.88. The stock has a fifty day simple moving average of $53.76 and a two-hundred day simple moving average of $49.81. Lumentum Holdings Inc. has a 12-month low of $35.35 and a 12-month high of $65.52. The company has a current ratio of 5.90, a quick ratio of 4.43 and a debt-to-equity ratio of 2.61.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Wednesday, August 14th. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. Lumentum had a negative return on equity of 4.79% and a negative net margin of 40.21%. The business had revenue of $308.30 million for the quarter, compared to analysts’ expectations of $301.36 million. During the same period in the prior year, the firm posted $0.12 EPS. The firm’s quarterly revenue was down 16.9% on a year-over-year basis. On average, research analysts anticipate that Lumentum Holdings Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Jefferies Financial Group upped their price target on Lumentum from $53.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. B. Riley upped their target price on Lumentum from $40.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Bank of America lifted their price target on shares of Lumentum from $45.00 to $50.00 and gave the company an “underperform” rating in a report on Thursday, August 15th. Needham & Company LLC boosted their price objective on shares of Lumentum from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, Barclays raised their target price on shares of Lumentum from $38.00 to $40.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. Three analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Lumentum presently has a consensus rating of “Hold” and an average price target of $59.08.

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.