Symmetry Investments LP Has $8.08 Million Stake in Lumentum Holdings Inc. (NASDAQ:LITE)

Symmetry Investments LP boosted its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 744.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,235 shares of the technology company’s stock after acquiring an additional 84,835 shares during the quarter. Symmetry Investments LP’s holdings in Lumentum were worth $8,079,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of LITE. UMB Bank n.a. increased its stake in shares of Lumentum by 301.2% in the fourth quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock valued at $28,000 after buying an additional 253 shares during the period. Jones Financial Companies Lllp raised its holdings in Lumentum by 54.2% during the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock worth $31,000 after purchasing an additional 130 shares during the last quarter. J.Safra Asset Management Corp increased its position in shares of Lumentum by 31.1% during the fourth quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company’s stock worth $43,000 after buying an additional 122 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Lumentum by 27.2% in the 4th quarter. Quadrant Capital Group LLC now owns 766 shares of the technology company’s stock valued at $64,000 after purchasing an additional 164 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in Lumentum in the fourth quarter worth $67,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LITE. Northland Securities upgraded Lumentum from a “market perform” rating to an “outperform” rating in a report on Monday, April 7th. B. Riley boosted their target price on shares of Lumentum from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Morgan Stanley cut their price target on Lumentum from $83.00 to $81.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Jefferies Financial Group initiated coverage on Lumentum in a report on Friday, February 21st. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on Lumentum from $105.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $82.60.

Lumentum Stock Up 3.1 %

Shares of NASDAQ LITE opened at $51.64 on Wednesday. The business’s fifty day moving average price is $63.14 and its 200-day moving average price is $75.19. Lumentum Holdings Inc. has a one year low of $38.29 and a one year high of $104.00. The stock has a market capitalization of $3.57 billion, a PE ratio of -6.72 and a beta of 1.14. The company has a debt-to-equity ratio of 2.94, a current ratio of 4.76 and a quick ratio of 3.60.

Lumentum (NASDAQ:LITE) last issued its earnings results 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 research analysts anticipate that Lumentum Holdings Inc. will post 0.03 EPS 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.