Lumentum Holdings Inc. (NASDAQ:LITE) Shares Sold by John G Ullman & Associates Inc.

John G Ullman & Associates Inc. lowered its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 48.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,691 shares of the technology company’s stock after selling 55,700 shares during the period. John G Ullman & Associates Inc. owned about 0.09% of Lumentum worth $3,077,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of LITE. Headlands Technologies LLC acquired a new position in shares of Lumentum in the third quarter worth about $26,000. Ramirez Asset Management Inc. acquired a new position in shares of Lumentum in the third quarter worth about $32,000. Neo Ivy Capital Management acquired a new position in shares of Lumentum in the third quarter worth about $32,000. Qube Research & Technologies Ltd acquired a new position in shares of Lumentum in the third quarter worth about $62,000. Finally, Whittier Trust Co. raised its position in shares of Lumentum by 697.7% in the fourth quarter. Whittier Trust Co. now owns 1,715 shares of the technology company’s stock worth $90,000 after acquiring an additional 1,500 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Buying and Selling

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

Lumentum Trading Down 1.6 %

Shares of Lumentum stock traded down $0.70 during mid-day trading on Friday, hitting $41.74. The stock had a trading volume of 1,109,140 shares, compared to its average volume of 1,433,047. The firm has a 50-day moving average of $47.73 and a two-hundred day moving average of $47.06. Lumentum Holdings Inc. has a 12-month low of $35.35 and a 12-month high of $65.16. The company has a quick ratio of 2.42, a current ratio of 3.13 and a debt-to-equity ratio of 1.96. The firm has a market cap of $2.81 billion, a P/E ratio of -10.77 and a beta of 1.09.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data 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). The company had revenue of $366.80 million for the quarter, compared to analysts’ expectations of $363.44 million. Lumentum had a positive return on equity of 1.04% and a negative net margin of 18.52%. Sell-side analysts forecast that Lumentum Holdings Inc. will post -0.61 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on LITE. Barclays upped their price target on shares of Lumentum from $40.00 to $45.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 16th. Susquehanna reduced their price target on shares of Lumentum from $65.00 to $60.00 and set a “positive” rating for the company in a research report on Friday, February 9th. JPMorgan Chase & Co. reduced their price target on shares of Lumentum from $62.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, April 11th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Lumentum in a report on Friday, February 9th. Finally, B. Riley cut their price objective on shares of Lumentum from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Friday, February 9th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $52.69.

Lumentum 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.