Hanseatic Management Services Inc. Acquires Shares of 13,882 Lumentum Holdings Inc. (NASDAQ:LITE)

Hanseatic Management Services Inc. bought a new position in Lumentum Holdings Inc. (NASDAQ:LITE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 13,882 shares of the technology company’s stock, valued at approximately $1,165,000. Lumentum comprises about 1.5% of Hanseatic Management Services Inc.’s investment portfolio, making the stock its 23rd biggest holding.

A number of other hedge funds have also made changes to their positions in LITE. Signaturefd LLC grew its stake in Lumentum by 13.8% during the third quarter. Signaturefd LLC now owns 1,302 shares of the technology company’s stock worth $83,000 after buying an additional 158 shares during the last quarter. Synovus Financial Corp boosted its holdings in shares of Lumentum by 1.5% in the 3rd quarter. Synovus Financial Corp now owns 13,225 shares of the technology company’s stock worth $838,000 after acquiring an additional 200 shares in the last quarter. Quarry LP grew its position in Lumentum by 85.5% during the 3rd quarter. Quarry LP now owns 436 shares of the technology company’s stock worth $28,000 after acquiring an additional 201 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Lumentum by 67.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company’s stock valued at $42,000 after purchasing an additional 270 shares in the last quarter. Finally, GAMMA Investing LLC raised 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 purchasing an additional 298 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Buying and Selling at Lumentum

In other news, CAO Matthew Joseph Sepe sold 8,172 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $87.60, for a total value of $715,867.20. Following the completion of the transaction, the chief accounting officer now owns 21,138 shares of the company’s stock, valued at $1,851,688.80. The trade was a 27.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vincent Retort sold 41,710 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.52, for a total value of $3,733,879.20. Following the sale, the insider now directly owns 147,515 shares in the company, valued at $13,205,542.80. The trade was a 22.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,797 shares of company stock valued at $8,881,428. 0.19% of the stock is currently owned by company insiders.

Lumentum Price Performance

NASDAQ:LITE opened at $94.41 on Friday. The company has a debt-to-equity ratio of 2.87, a quick ratio of 4.04 and a current ratio of 5.36. Lumentum Holdings Inc. has a 12-month low of $38.28 and a 12-month high of $96.25. The stock’s fifty day simple moving average is $86.72 and its 200-day simple moving average is $68.24.

Wall Street Analyst Weigh In

LITE has been the subject of a number of research reports. Needham & Company LLC restated a “buy” rating and issued a $110.00 target price on shares of Lumentum in a research note on Thursday, January 9th. Morgan Stanley raised their price objective on shares of Lumentum from $76.00 to $83.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Northland Securities upped their target price on shares of Lumentum from $45.00 to $60.00 and gave the stock a “market perform” rating in a research report on Friday, November 8th. Susquehanna raised their price target on shares of Lumentum from $80.00 to $115.00 and gave the company a “positive” rating in a report on Friday, November 8th. Finally, Raymond James upped their price objective on Lumentum from $70.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.92.

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.