Lumentum Holdings Inc. (NASDAQ:LITE) Holdings Lifted by JB Capital LLC

JB Capital LLC grew its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 5.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,630 shares of the technology company’s stock after buying an additional 1,561 shares during the period. JB Capital LLC’s holdings in Lumentum were worth $2,068,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Lumentum by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 7,218,293 shares of the technology company’s stock valued at $341,786,000 after acquiring an additional 22,088 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Lumentum by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,703,969 shares of the technology company’s stock valued at $86,760,000 after purchasing an additional 130,838 shares in the last quarter. Earnest Partners LLC lifted its holdings in Lumentum by 6.0% in the first quarter. Earnest Partners LLC now owns 1,690,117 shares of the technology company’s stock worth $80,027,000 after purchasing an additional 95,428 shares during the period. Swedbank AB bought a new position in Lumentum in the 1st quarter valued at about $71,025,000. Finally, Van Lanschot Kempen Investment Management N.V. increased its stake in Lumentum by 17.8% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,154,805 shares of the technology company’s stock valued at $58,803,000 after buying an additional 174,828 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LITE. B. Riley upped their price target on shares of Lumentum from $40.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Raymond James upped their target price on Lumentum from $55.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Needham & Company LLC lifted their price target on Lumentum from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. upped their price objective on Lumentum from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Finally, Barclays lifted their target price on Lumentum from $38.00 to $40.00 and gave the stock an “underweight” rating in a report on Thursday, August 15th. Three analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $60.77.

Lumentum Stock Up 1.4 %

NASDAQ:LITE traded up $1.02 during trading hours on Thursday, hitting $72.99. 211,883 shares of the company’s stock traded hands, compared to its average volume of 1,419,129. The stock’s fifty day moving average price is $62.39 and its two-hundred day moving average price is $53.47. The firm has a market cap of $5.01 billion, a P/E ratio of -8.90, a P/E/G ratio of 5.48 and a beta of 0.88. The company has a debt-to-equity ratio of 2.61, a quick ratio of 4.43 and a current ratio of 5.90. Lumentum Holdings Inc. has a twelve month low of $38.28 and a twelve month high of $73.70.

Lumentum (NASDAQ:LITE) last issued its earnings results on Wednesday, August 14th. The technology company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The company had revenue of $308.30 million for the quarter, compared to the consensus estimate of $301.36 million. Lumentum had a negative return on equity of 4.79% and a negative net margin of 40.21%. The firm’s quarterly revenue was down 16.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 EPS. On average, research analysts expect that Lumentum Holdings Inc. will post 0.2 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.