Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Lumentum Holdings Inc (NASDAQ:LITE) by 106.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,864 shares of the technology company’s stock after acquiring an additional 1,995 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Lumentum were worth $189,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. SeaCrest Wealth Management LLC bought a new stake in shares of Lumentum during the 4th quarter worth approximately $128,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Lumentum by 42.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,797 shares of the technology company’s stock worth $186,000 after acquiring an additional 1,135 shares during the period. Tyers Asset Management LLC lifted its holdings in shares of Lumentum by 26.6% during the 4th quarter. Tyers Asset Management LLC now owns 4,720 shares of the technology company’s stock worth $231,000 after acquiring an additional 992 shares during the period. CIBC Asset Management Inc bought a new stake in shares of Lumentum during the 4th quarter worth approximately $236,000. Finally, First Allied Advisory Services Inc. bought a new stake in shares of Lumentum during the 3rd quarter worth approximately $237,000.
LITE stock opened at $64.30 on Friday. The company has a market cap of $3,906.24, a P/E ratio of 40.44, a P/E/G ratio of 1.21 and a beta of -0.08. Lumentum Holdings Inc has a 1 year low of $40.35 and a 1 year high of $74.40. The company has a quick ratio of 4.16, a current ratio of 4.84 and a debt-to-equity ratio of 0.38.
In other Lumentum news, EVP Jason Reinhardt sold 9,308 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $56.82, for a total value of $528,880.56. Following the completion of the transaction, the executive vice president now directly owns 59,635 shares in the company, valued at approximately $3,388,460.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Harold L. Covert sold 7,564 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $56.58, for a total transaction of $427,971.12. Following the completion of the transaction, the director now owns 22,628 shares of the company’s stock, valued at $1,280,292.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,150 shares of company stock valued at $3,800,816. Corporate insiders own 0.76% of the company’s stock.
A number of analysts have recently weighed in on LITE shares. Piper Jaffray reaffirmed a “buy” rating and set a $81.00 price target on shares of Lumentum in a report on Wednesday, January 3rd. BidaskClub downgraded shares of Lumentum from a “hold” rating to a “sell” rating in a report on Friday, December 29th. Morgan Stanley raised shares of Lumentum from an “underweight” rating to an “equal weight” rating and set a $46.00 price target for the company in a report on Tuesday, January 23rd. DA Davidson upped their price target on shares of Lumentum to $101.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Finally, Northland Securities reaffirmed a “buy” rating and set a $95.00 price target on shares of Lumentum in a report on Monday, March 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have assigned a buy rating to the stock. Lumentum presently has an average rating of “Buy” and a consensus price target of $81.38.
Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. It operates through two segments, Optical Communications and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.
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