Aigen Investment Management LP Purchases 2,559 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Aigen Investment Management LP raised its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 34.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,086 shares of the technology company’s stock after acquiring an additional 2,559 shares during the quarter. Aigen Investment Management LP’s holdings in Lumentum were worth $639,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of LITE. Capital Performance Advisors LLP bought a new stake in Lumentum during the 3rd quarter valued at approximately $33,000. Point72 DIFC Ltd bought a new stake in Lumentum during the 2nd quarter valued at approximately $36,000. GAMMA Investing LLC boosted its position in Lumentum by 141.6% during the 3rd quarter. GAMMA Investing LLC now owns 894 shares of the technology company’s stock valued at $57,000 after acquiring an additional 524 shares in the last quarter. Signaturefd LLC boosted its position in Lumentum by 93.9% during the 2nd quarter. Signaturefd LLC now owns 1,144 shares of the technology company’s stock valued at $58,000 after acquiring an additional 554 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new stake in Lumentum during the 1st quarter valued at approximately $112,000. 94.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LITE has been the topic of a number of analyst reports. Bank of America boosted their price target on Lumentum from $45.00 to $50.00 and gave the stock an “underperform” rating in a research report on Thursday, August 15th. Jefferies Financial Group boosted their price target on Lumentum from $53.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Raymond James boosted their price target on Lumentum from $70.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. B. Riley boosted their price target on Lumentum from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, Needham & Company LLC boosted their price target on Lumentum from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $73.15.

Lumentum Stock Up 1.6 %

LITE stock opened at $88.06 on Thursday. The business’s 50-day moving average is $65.16 and its two-hundred day moving average is $54.92. The company has a market cap of $6.05 billion, a price-to-earnings ratio of -10.64, a P/E/G ratio of 8.83 and a beta of 0.88. Lumentum Holdings Inc. has a fifty-two week low of $38.28 and a fifty-two week high of $89.70. The company has a debt-to-equity ratio of 2.87, a quick ratio of 4.04 and a current ratio of 5.36.

Lumentum (NASDAQ:LITE) last announced its earnings results on Wednesday, August 14th. The technology company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $308.30 million during the quarter, compared to analysts’ expectations of $301.36 million. Lumentum had a negative net margin of 40.70% and a negative return on equity of 6.79%. The firm’s revenue was down 16.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.12 earnings per share. As a group, analysts forecast that Lumentum Holdings Inc. will post 0.17 earnings per share for the current year.

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.