TCW Group Inc. Purchases 4,771 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

TCW Group Inc. grew its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 24.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,148 shares of the technology company’s stock after acquiring an additional 4,771 shares during the period. TCW Group Inc.’s holdings in Lumentum were worth $1,505,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. CoreCap Advisors LLC grew its holdings in Lumentum by 2,235.3% during the 4th quarter. CoreCap Advisors LLC now owns 397 shares of the technology company’s stock worth $33,000 after acquiring an additional 380 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new stake in Lumentum during the 1st quarter worth about $25,000. Rakuten Securities Inc. grew its holdings in Lumentum by 164.4% during the 1st quarter. Rakuten Securities Inc. now owns 476 shares of the technology company’s stock worth $30,000 after acquiring an additional 296 shares during the period. Golden State Wealth Management LLC grew its holdings in Lumentum by 103.2% during the 1st quarter. Golden State Wealth Management LLC now owns 512 shares of the technology company’s stock worth $32,000 after acquiring an additional 260 shares during the period. Finally, Quadrant Capital Group LLC grew its holdings in Lumentum by 27.2% during the 4th quarter. Quadrant Capital Group LLC now owns 766 shares of the technology company’s stock worth $64,000 after acquiring an additional 164 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

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 transaction of $362,518.92. Following the transaction, the insider owned 82,957 shares of the company’s stock, valued at $6,376,904.59. This trade represents a 5.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan S. Lowe sold 20,000 shares of Lumentum stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $93.47, for a total transaction of $1,869,400.00. Following the transaction, the director directly owned 230,471 shares in the company, valued at approximately $21,542,124.37. This represents a 7.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,049 shares of company stock worth $5,795,543 in the last quarter. 0.19% of the stock is owned by insiders.

Lumentum Price Performance

Shares of NASDAQ LITE opened at $107.17 on Tuesday. Lumentum Holdings Inc. has a fifty-two week low of $38.28 and a fifty-two week high of $107.24. The stock has a market cap of $7.44 billion, a price-to-earnings ratio of -16.62 and a beta of 1.34. The company has a debt-to-equity ratio of 2.91, a quick ratio of 3.53 and a current ratio of 4.72. The firm’s 50-day simple moving average is $88.66 and its 200 day simple moving average is $76.47.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.07. Lumentum had a negative net margin of 29.87% and a negative return on equity of 8.69%. The business had revenue of $425.20 million for the quarter, compared to analysts’ expectations of $418.18 million. During the same quarter last year, the firm earned $0.09 EPS. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, research analysts anticipate that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on LITE shares. Northland Securities set a $80.00 price target on Lumentum in a report on Wednesday, May 7th. B. Riley increased their price objective on shares of Lumentum from $65.00 to $73.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 4th. Rosenblatt Securities reissued a “buy” rating and set a $105.00 price objective on shares of Lumentum in a research report on Thursday, June 12th. Stifel Nicolaus increased their price objective on shares of Lumentum from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, June 5th. Finally, Northland Capmk raised shares of Lumentum from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.73.

Lumentum Company 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.