Gilder Gagnon Howe & Co. LLC Makes New Investment in Lumentum Holdings Inc. (NASDAQ:LITE)

Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,518 shares of the technology company’s stock, valued at approximately $1,135,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital World Investors boosted its stake in Lumentum by 108.3% during the 4th quarter. Capital World Investors now owns 3,600,132 shares of the technology company’s stock valued at $302,231,000 after purchasing an additional 1,871,572 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Lumentum by 1.4% during the fourth quarter. Alliancebernstein L.P. now owns 1,711,956 shares of the technology company’s stock worth $143,719,000 after buying an additional 23,136 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Lumentum by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 1,195,605 shares of the technology company’s stock valued at $100,402,000 after acquiring an additional 9,442 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in shares of Lumentum by 8.1% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 838,289 shares of the technology company’s stock worth $70,374,000 after acquiring an additional 62,937 shares during the last quarter. Finally, Norges Bank bought a new position in Lumentum during the fourth quarter worth $68,962,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Lumentum Stock Up 2.1 %

Shares of NASDAQ LITE opened at $60.00 on Friday. Lumentum Holdings Inc. has a 52-week low of $38.29 and a 52-week high of $104.00. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76. The business has a fifty day moving average of $61.91 and a two-hundred day moving average of $74.99. The stock has a market cap of $4.15 billion, a PE ratio of -7.80 and a beta of 1.14.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) 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, equities research analysts expect that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on LITE shares. Morgan Stanley reduced their price target on shares of Lumentum from $83.00 to $81.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Northland Capmk upgraded shares of Lumentum from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. BNP Paribas upgraded Lumentum from a “neutral” rating to an “outperform” rating and set a $92.00 price target on the stock in a research note on Tuesday, March 11th. UBS Group upped 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. Finally, Needham & Company LLC reissued a “buy” rating and set a $110.00 price objective on shares of Lumentum in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Lumentum has an average rating of “Moderate Buy” and an average price target of $82.60.

Insider Activity

In related news, CFO Wajid Ali sold 2,172 shares of Lumentum 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 completion of the transaction, the chief financial officer now directly owns 51,976 shares of the company’s stock, valued at $4,071,799.84. The trade was a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

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.