Lumentum Holdings Inc. (NASDAQ:LITE) Shares Bought by Teza Capital Management LLC

Teza Capital Management LLC lifted its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 102.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,911 shares of the technology company’s stock after purchasing an additional 16,128 shares during the period. Teza Capital Management LLC’s holdings in Lumentum were worth $2,679,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. J.Safra Asset Management Corp grew its stake in shares of Lumentum by 31.1% in the 4th quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company’s stock worth $43,000 after purchasing an additional 122 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Lumentum by 54.2% in 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. Quadrant Capital Group LLC grew 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 worth $64,000 after purchasing an additional 164 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Lumentum by 4.0% in the 4th quarter. Crossmark Global Holdings Inc. now owns 4,350 shares of the technology company’s stock worth $365,000 after purchasing an additional 168 shares during the last quarter. Finally, Manchester Capital Management LLC grew its stake in shares of Lumentum by 22.6% in the 4th quarter. Manchester Capital Management LLC now owns 1,029 shares of the technology company’s stock worth $86,000 after purchasing an additional 190 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Lumentum Stock Performance

LITE stock opened at $77.95 on Friday. 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 stock has a market cap of $5.41 billion, a P/E ratio of -10.14 and a beta of 1.18. The firm has a 50 day simple moving average of $61.62 and a 200 day simple moving average of $75.06. Lumentum Holdings Inc. has a 52 week low of $38.29 and a 52 week high of $104.00.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.50 by $0.07. The business had revenue of $425.20 million during the quarter, compared to analysts’ expectations of $418.18 million. Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the company posted $0.09 earnings per share. Research analysts anticipate that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Lumentum

In other Lumentum news, insider Yuen Wupen sold 4,716 shares of Lumentum stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $76.87, for a total value of $362,518.92. Following the completion of the sale, the insider now directly owns 82,957 shares in the company, valued at $6,376,904.59. The trade was a 5.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Wajid Ali sold 2,172 shares of Lumentum stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total transaction of $170,154.48. Following the completion of the sale, the chief financial officer now owns 51,976 shares of the company’s stock, valued at $4,071,799.84. This trade represents a 4.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,314 shares of company stock worth $850,460 over the last ninety days. 0.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. UBS Group lowered their price objective on shares of Lumentum from $96.00 to $78.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Jefferies Financial Group started coverage on shares of Lumentum in a research report on Friday, February 21st. They issued a “buy” rating on the stock. B. Riley lifted 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 dropped their target price on shares of Lumentum from $83.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Finally, Northland Securities set a $80.00 target price on shares of Lumentum in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Lumentum presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.20.

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.