Nordea Investment Management AB increases its equity holding in Lumentum Holdings Inc. (NASDAQ:LITE)


Nordea Investment Management AB increased its equity stake in Lumentum Holdings Inc. (NASDAQ: LITEGet a rating) by 3.2% in the first quarter, according to its most recent SEC filing. The company held 88,724 shares of the tech company after purchasing an additional 2,733 shares during the period. Nordea Investment Management AB’s holdings in Lumentum were worth $8,689,000 at the end of the last reporting period.

A number of other hedge funds and other institutional investors also bought and sold shares of the company. F&V Capital Management LLC increased its position in Lumentum by 6.8% during the 1st quarter. F&V Capital Management LLC now owns 88,000 shares of the technology company valued at $8,589,000 after purchasing an additional 5,620 shares during the period. First Hawaiian Bank increased its position in Lumentum by 70.3% during the 1st quarter. First Hawaiian Bank now owns 17,769 shares of the technology company valued at $1,734,000 after purchasing an additional 7,335 shares during the period. Pacer Advisors Inc. increased its position in Lumentum by 172.5% during the 1st quarter. Pacer Advisors Inc. now owns 144,252 shares of the technology company valued at $14,079,000 after purchasing an additional 91,315 shares during the period. Fulton Bank NA bought a new position in Lumentum during Q1 worth approximately $288,000. Finally, American Trust bought a new position in Lumentum during Q4 valued at around $231,000. 92.49% of the shares are currently held by institutional investors and hedge funds.

Shares of NASDAQ LITE opened at $82.18 on Friday. The company has a current ratio of 4.69, a quick ratio of 4.35 and a debt ratio of 0.76. Lumentum Holdings Inc. has a 12-month low of $73.97 and a 12-month high of $108.90. The company has a 50-day simple moving average of $84.71 and a two-hundred-day simple moving average of $93.38. The stock has a market capitalization of $5.67 billion, a price-earnings ratio of 33.41 and a beta of 0.90.

Lumentum (NASDAQ: LITEGet a rating) last reported quarterly earnings data on Wednesday, May 4. The tech company reported EPS of $0.93 for the quarter, beating the consensus estimate of $0.79 by $0.14. Lumentum had a net margin of 11.04% and a return on equity of 17.57%. The company posted revenue of $395.40 million in the quarter, compared to $390.16 million expected by analysts. During the same period a year earlier, the company posted EPS of $1.08. The company’s quarterly revenue fell 5.7% from the same quarter last year. Analysts expect Lumentum Holdings Inc. to post EPS of 4.79 for the current year.

In other Lumentum news, CFO Wajid Ali sold 3,287 Lumentum shares in a trade that took place on Tuesday, May 17. The shares were sold at an average price of $89.12, for a total transaction of $292,937.44. Following the completion of the sale, the CFO now directly owns 37,717 shares of the company, valued at approximately $3,361,339.04. The sale was disclosed in a document filed with the SEC, accessible via this hyperlink. Insiders own 0.32% of the shares of the company.

A number of research analysts have recently released reports on LITE stocks. StockNews.com moved Lumentum’s shares from a “hold” rating to a “buy” rating in a Friday, May 6 research report. Northland Securities raised its price target on Lumentum shares from $110.00 to $120.00 and gave the stock an “outperform” rating in a Wednesday, March 9 research report. Rosenblatt Securities raised its price target on Lumentum shares from $115.00 to $125.00 and gave the stock a “buy” rating in a Wednesday, March 23 research report. Craig Hallum cut his price target on Lumentum shares from $130.00 to $115.00 and set a “buy” rating on the stock in a Thursday, April 14 research report. Finally, B. Riley reduced his price target on Lumentum shares from $120.00 to $119.00 in a Thursday, May 5 research report. One investment analyst gave the stock a hold rating and thirteen gave the stock a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “moderate buy” and an average target price of $110.92.

Profile Lumentum (Get a rating)

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, Asia-Pacific, Europe, Middle East and Africa. The Company operates in 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.

See also

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Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)



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