Leeward Investments LLC MA Sells 3,023 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Leeward Investments LLC MA decreased its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 0.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 357,106 shares of the technology company’s stock after selling 3,023 shares during the period. Leeward Investments LLC MA owned 0.53% of Lumentum worth $16,909,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State of Michigan Retirement System boosted its stake in Lumentum by 3.1% in the 1st quarter. State of Michigan Retirement System now owns 16,528 shares of the technology company’s stock worth $783,000 after purchasing an additional 500 shares during the period. F&V Capital Management LLC grew its stake in Lumentum by 1.5% during the first quarter. F&V Capital Management LLC now owns 141,390 shares of the technology company’s stock valued at $6,695,000 after acquiring an additional 2,060 shares in the last quarter. Thompson Investment Management Inc. increased its holdings in Lumentum by 139.1% in the 1st quarter. Thompson Investment Management Inc. now owns 71,429 shares of the technology company’s stock valued at $3,382,000 after acquiring an additional 41,556 shares during the last quarter. Bridge City Capital LLC lifted its stake in Lumentum by 0.7% in the 1st quarter. Bridge City Capital LLC now owns 32,607 shares of the technology company’s stock worth $1,544,000 after purchasing an additional 242 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of Lumentum during the 4th quarter valued at about $612,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Lumentum Trading Up 0.6 %

Shares of NASDAQ LITE traded up $0.30 during trading hours on Thursday, reaching $54.24. The stock had a trading volume of 537,654 shares, compared to its average volume of 814,895. The company has a current ratio of 5.20, a quick ratio of 3.87 and a debt-to-equity ratio of 2.13. The business’s fifty day moving average price is $46.44 and its two-hundred day moving average price is $48.51. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of -10.33, a P/E/G ratio of 43.94 and a beta of 0.88. Lumentum Holdings Inc. has a 52-week low of $35.35 and a 52-week high of $60.99.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Monday, May 6th. The technology company reported ($0.18) EPS for the quarter, hitting analysts’ consensus estimates of ($0.18). The company had revenue of $366.50 million during the quarter, compared to the consensus estimate of $366.53 million. Lumentum had a negative net margin of 24.91% and a negative return on equity of 1.72%. Analysts expect that Lumentum Holdings Inc. will post -0.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on LITE shares. B. Riley decreased their target price on Lumentum from $41.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. JPMorgan Chase & Co. cut their target price on shares of Lumentum from $62.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. Needham & Company LLC decreased their price target on shares of Lumentum from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, May 20th. Stifel Nicolaus reissued a “buy” rating and issued a $62.00 price objective on shares of Lumentum in a research note on Monday, April 1st. Finally, StockNews.com upgraded shares of Lumentum to a “sell” rating in a research report on Monday, May 6th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $52.25.

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.