Van Hulzen Asset Management LLC Has $941,000 Stock Position in Lumentum Holdings Inc. (NASDAQ:LITE)

Van Hulzen Asset Management LLC increased its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITEGet Rating) by 21.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,892 shares of the technology company’s stock after purchasing an additional 1,582 shares during the period. Van Hulzen Asset Management LLC’s holdings in Lumentum were worth $941,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LITE. David J Yvars Group bought a new stake in Lumentum in the fourth quarter valued at about $50,000. Herold Advisors Inc. bought a new stake in Lumentum in the third quarter valued at about $91,000. Lindbrook Capital LLC bought a new stake in Lumentum in the fourth quarter valued at about $128,000. Moors & Cabot Inc. bought a new stake in Lumentum in the third quarter valued at about $150,000. Finally, Spire Wealth Management increased its holdings in Lumentum by 212.7% in the fourth quarter. Spire Wealth Management now owns 1,507 shares of the technology company’s stock valued at $159,000 after purchasing an additional 1,025 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

In other news, CEO Alan S. Lowe sold 8,809 shares of the firm’s stock in a transaction that occurred on Thursday, February 17th. The stock was sold at an average price of $100.80, for a total value of $887,947.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Wajid Ali sold 7,854 shares of the firm’s stock in a transaction that occurred on Thursday, February 17th. The shares were sold at an average price of $100.82, for a total value of $791,840.28. The disclosure for this sale can be found here. Insiders have sold 18,965 shares of company stock valued at $1,912,911 over the last three months. Insiders own 0.30% of the company’s stock.

A number of research firms recently commented on LITE. B. Riley reiterated a “buy” rating on shares of Lumentum in a report on Tuesday, February 1st. Zacks Investment Research upgraded Lumentum from a “hold” rating to a “buy” rating and set a $104.00 price target for the company in a report on Thursday, April 7th. StockNews.com downgraded Lumentum from a “buy” rating to a “hold” rating in a report on Thursday, April 7th. Morgan Stanley increased their price target on Lumentum from $91.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, February 4th. Finally, JPMorgan Chase & Co. upgraded Lumentum from a “neutral” rating to an “overweight” rating and set a $110.00 price target for the company in a report on Wednesday, January 26th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Lumentum currently has a consensus rating of “Buy” and an average price target of $106.88.

NASDAQ LITE traded up $1.85 during trading hours on Tuesday, hitting $87.35. 4,426 shares of the company traded hands, compared to its average volume of 998,109. The stock has a 50-day simple moving average of $94.34. Lumentum Holdings Inc. has a twelve month low of $65.67 and a twelve month high of $108.90. The company has a quick ratio of 3.55, a current ratio of 3.87 and a debt-to-equity ratio of 0.40. The stock has a market cap of $6.31 billion, a PE ratio of 17.55 and a beta of 0.83.

Lumentum (NASDAQ:LITEGet Rating) last issued its quarterly earnings results on Thursday, February 3rd. The technology company reported $1.28 EPS for the quarter, meeting the consensus estimate of $1.28. Lumentum had a return on equity of 17.82% and a net margin of 22.57%. The firm had revenue of $446.70 million during the quarter, compared to analysts’ expectations of $444.72 million. During the same period in the prior year, the firm posted $1.68 earnings per share. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. As a group, research analysts forecast that Lumentum Holdings Inc. will post 4.42 EPS for the current fiscal year.

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

Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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