John G Ullman & Associates Inc. Sells 55,700 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

John G Ullman & Associates Inc. decreased its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 48.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 58,691 shares of the technology company’s stock after selling 55,700 shares during the quarter. John G Ullman & Associates Inc.’s holdings in Lumentum were worth $3,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. IMA Wealth Inc. increased its position in shares of Lumentum by 1.0% in the second quarter. IMA Wealth Inc. now owns 25,682 shares of the technology company’s stock worth $1,457,000 after purchasing an additional 266 shares during the period. First Manhattan CO. LLC. grew its position in Lumentum by 3.4% in the first quarter. First Manhattan CO. LLC. now owns 9,020 shares of the technology company’s stock valued at $487,000 after acquiring an additional 300 shares during the last quarter. Prudential Financial Inc. grew its position in Lumentum by 3.3% in the first quarter. Prudential Financial Inc. now owns 9,561 shares of the technology company’s stock valued at $516,000 after acquiring an additional 306 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Lumentum by 1.7% during the third quarter. Arizona State Retirement System now owns 19,561 shares of the technology company’s stock valued at $884,000 after purchasing an additional 321 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Lumentum by 0.9% during the third quarter. Public Employees Retirement System of Ohio now owns 35,911 shares of the technology company’s stock valued at $2,462,000 after purchasing an additional 323 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Lumentum in a report on Friday, February 9th. Craig Hallum upgraded Lumentum from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Rosenblatt Securities upped their target price on Lumentum from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, February 9th. B. Riley reduced their target price on Lumentum from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Friday, February 9th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $62.00 target price on shares of Lumentum in a report on Monday, April 1st. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Lumentum has an average rating of “Hold” and a consensus target price of $52.69.

Insider Transactions at Lumentum

In other news, CAO Matthew Joseph Sepe sold 9,903 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $49.23, for a total transaction of $487,524.69. Following the transaction, the chief accounting officer now directly owns 33,188 shares of the company’s stock, valued at $1,633,845.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is owned by insiders.

Lumentum Stock Down 1.6 %

Shares of NASDAQ:LITE traded down $0.70 during trading on Friday, reaching $41.74. 1,109,140 shares of the stock were exchanged, compared to its average volume of 1,433,047. The company has a debt-to-equity ratio of 1.96, a current ratio of 3.13 and a quick ratio of 2.42. Lumentum Holdings Inc. has a 1-year low of $35.35 and a 1-year high of $65.16. The stock has a fifty day moving average of $47.73 and a two-hundred day moving average of $47.06. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of -10.77 and a beta of 1.09.

Lumentum (NASDAQ:LITE) last issued its earnings results on Thursday, February 8th. The technology company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.07). Lumentum had a positive return on equity of 1.04% and a negative net margin of 18.52%. The firm had revenue of $366.80 million for the quarter, compared to analyst estimates of $363.44 million. Research analysts anticipate that Lumentum Holdings Inc. will post -0.61 earnings per share for the current fiscal 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.