Swiss National Bank Acquires 900 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Posted by on May 17th, 2023

Swiss National Bank raised its position in Lumentum Holdings Inc. (NASDAQ:LITE – Get Rating) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,515 shares of the technology company’s stock after buying an additional 900 shares during the quarter. Swiss National Bank owned about 0.24% of Lumentum worth $8,583,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in LITE. Tompkins Financial Corp bought a new stake in shares of Lumentum in the fourth quarter valued at $26,000. Westside Investment Management Inc. grew its position in shares of Lumentum by 246.9% in the fourth quarter. Westside Investment Management Inc. now owns 562 shares of the technology company’s stock valued at $29,000 after purchasing an additional 400 shares in the last quarter. Gibson Wealth Advisors LLC grew its position in shares of Lumentum by 6,200.0% in the fourth quarter. Gibson Wealth Advisors LLC now owns 504 shares of the technology company’s stock valued at $31,000 after purchasing an additional 496 shares in the last quarter. Assetmark Inc. grew its position in shares of Lumentum by 35.7% in the third quarter. Assetmark Inc. now owns 513 shares of the technology company’s stock valued at $35,000 after purchasing an additional 135 shares in the last quarter. Finally, Signaturefd LLC grew its position in shares of Lumentum by 187.3% in the fourth quarter. Signaturefd LLC now owns 793 shares of the technology company’s stock valued at $41,000 after purchasing an additional 517 shares in the last quarter. 92.46% of the stock is currently owned by institutional investors.

Lumentum Trading Down 1.8 %

NASDAQ LITE opened at $44.33 on Wednesday. Lumentum Holdings Inc. has a 1-year low of $42.00 and a 1-year high of $96.46. The company has a current ratio of 3.06, a quick ratio of 2.61 and a debt-to-equity ratio of 1.23. The stock has a 50-day moving average of $48.65 and a 200-day moving average of $54.04. The firm has a market cap of $3.04 billion, a PE ratio of -80.60, a price-to-earnings-growth ratio of 2.80 and a beta of 1.10.

Lumentum (NASDAQ:LITE – Get Rating) last released its earnings results on Tuesday, May 9th. The technology company reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. Lumentum had a return on equity of 17.77% and a net margin of 1.56%. The company had revenue of $383.40 million during the quarter, compared to analyst estimates of $393.08 million. As a group, sell-side analysts forecast that Lumentum Holdings Inc. will post 3.05 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LITE shares. B. Riley cut Lumentum from a “buy” rating to a “neutral” rating and reduced their price target for the company from $90.00 to $66.00 in a research report on Friday, February 10th. Morgan Stanley reduced their price target on Lumentum from $66.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, April 6th. Barclays cut Lumentum from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $55.00 to $40.00 in a research report on Wednesday, May 10th. Bank of America reduced their target price on Lumentum from $70.00 to $56.00 in a research report on Thursday, April 6th. Finally, UBS Group reduced their target price on Lumentum from $59.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, April 6th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lumentum currently has an average rating of “Hold” and a consensus target price of $58.27.

Lumentum Profile

(Get Rating)

Lumentum Holdings, Inc engages in the provision of optical and photonic products. It operates through the Optical Communications (OpComms) and Commercial Lasers segments. The OpComms segment includes a range of components, modules, and subsystems to support customers including carrier networks of access (local), metro (intracity), long-haul (city-to-city and worldwide), and submarine (undersea) applications.

See Also

Want to see what other hedge funds are holding LITE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lumentum Holdings Inc. (NASDAQ:LITE – Get Rating).

Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

Receive News & Ratings for Lumentum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumentum and related companies with MarketBeat.com's FREE daily email newsletter.