Collar Capital Management LLC Acquires Shares of 19,269 Lumentum Holdings Inc. (NASDAQ:LITE)

Collar Capital Management LLC bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 19,269 shares of the technology company’s stock, valued at approximately $1,618,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC increased its stake in shares of Lumentum by 35.6% in the third quarter. Tidal Investments LLC now owns 18,669 shares of the technology company’s stock valued at $1,183,000 after buying an additional 4,899 shares in the last quarter. GAMMA Investing LLC increased its position in Lumentum by 33.3% in the 4th quarter. GAMMA Investing LLC now owns 1,192 shares of the technology company’s stock valued at $100,000 after acquiring an additional 298 shares in the last quarter. Friedenthal Financial bought a new position in shares of Lumentum in the fourth quarter worth about $773,000. Assenagon Asset Management S.A. acquired a new position in shares of Lumentum during the fourth quarter worth approximately $2,723,000. Finally, Hanseatic Management Services Inc. bought a new stake in shares of Lumentum during the fourth quarter valued at approximately $1,165,000. 94.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LITE has been the subject of several research analyst reports. B. Riley boosted their price objective on shares of Lumentum from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. UBS Group raised their price target on Lumentum from $93.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Raymond James raised shares of Lumentum from an “outperform” rating to a “strong-buy” rating and reduced their target price for the company from $96.00 to $82.00 in a research note on Monday, March 24th. Rosenblatt Securities reduced their price objective on shares of Lumentum from $110.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Finally, Jefferies Financial Group assumed coverage on shares of Lumentum in a report on Friday, February 21st. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.60.

Lumentum Stock Performance

LITE stock opened at $64.42 on Wednesday. Lumentum Holdings Inc. has a 1-year low of $38.29 and a 1-year high of $104.00. The company has a current ratio of 4.76, a quick ratio of 3.60 and a debt-to-equity ratio of 2.94. The firm has a market cap of $4.46 billion, a PE ratio of -8.38 and a beta of 1.18. The business’s 50-day moving average price is $60.29 and its two-hundred day moving average price is $74.68.

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 the consensus estimate of $0.27 by ($0.41). Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. As a group, research analysts forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Insider Buying and Selling at Lumentum

In other news, CFO Wajid Ali sold 2,172 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total value of $170,154.48. Following the sale, the chief financial officer now directly owns 51,976 shares in the company, valued at $4,071,799.84. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

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.