Advisors Preferred LLC Takes Position in Lumentum Holdings Inc. (NASDAQ:LITE)

Advisors Preferred LLC bought a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 10,105 shares of the technology company’s stock, valued at approximately $865,000.

Several other hedge funds also recently bought and sold shares of LITE. Quarry LP lifted its position in shares of Lumentum by 85.5% in the third quarter. Quarry LP now owns 436 shares of the technology company’s stock valued at $28,000 after acquiring an additional 201 shares in the last quarter. UMB Bank n.a. lifted its holdings in Lumentum by 301.2% in the 4th quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock worth $28,000 after purchasing an additional 253 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Lumentum during the 3rd quarter valued at approximately $33,000. Nomura Asset Management Co. Ltd. raised its position in shares of Lumentum by 67.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company’s stock valued at $42,000 after buying an additional 270 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Lumentum by 141.6% in the third quarter. GAMMA Investing LLC now owns 894 shares of the technology company’s stock worth $57,000 after buying an additional 524 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Insider Buying and Selling

In related news, insider Vincent Retort sold 41,710 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $89.52, for a total transaction of $3,733,879.20. Following the completion of the sale, the insider now owns 147,515 shares of the company’s stock, valued at $13,205,542.80. This represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Matthew Joseph Sepe sold 8,172 shares of Lumentum stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $87.60, for a total transaction of $715,867.20. Following the completion of the transaction, the chief accounting officer now directly owns 21,138 shares in the company, valued at $1,851,688.80. This represents a 27.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,797 shares of company stock valued at $8,881,428 over the last 90 days. Corporate insiders own 0.19% of the company’s stock.

Lumentum Price Performance

Lumentum stock opened at $85.90 on Friday. The company has a debt-to-equity ratio of 2.87, a current ratio of 5.36 and a quick ratio of 4.04. The firm has a 50-day moving average of $87.68 and a two-hundred day moving average of $71.49. Lumentum Holdings Inc. has a 1 year low of $38.28 and a 1 year high of $104.00.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.41). Lumentum had a negative return on equity of 7.00% and a negative net margin of 36.98%. Equities analysts anticipate that Lumentum Holdings Inc. will post -0.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on LITE. Raymond James boosted their price target on shares of Lumentum from $94.00 to $96.00 and gave the stock an “outperform” rating in a research note on Friday. Morgan Stanley lowered their price objective on shares of Lumentum from $83.00 to $81.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Rosenblatt Securities restated a “buy” rating and issued a $110.00 target price on shares of Lumentum in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $110.00 price target on shares of Lumentum in a report on Friday. Finally, Northland Securities boosted their price objective on Lumentum from $60.00 to $70.00 and gave the stock a “market perform” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Lumentum presently has a consensus rating of “Hold” and a consensus target price of $88.07.

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.