Dimensional Fund Advisors LP Has $86.68 Million Stock Position in Lumentum Holdings Inc. (NASDAQ:LITE)

Dimensional Fund Advisors LP trimmed its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 14.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,032,479 shares of the technology company’s stock after selling 179,481 shares during the period. Dimensional Fund Advisors LP owned 1.50% of Lumentum worth $86,678,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new stake in Lumentum during the fourth quarter worth about $68,962,000. Renaissance Technologies LLC lifted its holdings in shares of Lumentum by 524.8% during the 4th quarter. Renaissance Technologies LLC now owns 413,838 shares of the technology company’s stock worth $34,742,000 after acquiring an additional 347,600 shares during the period. Marshall Wace LLP bought a new stake in shares of Lumentum during the 4th quarter worth approximately $24,581,000. Hel Ved Capital Management Ltd acquired a new stake in shares of Lumentum during the 4th quarter worth approximately $19,026,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in Lumentum in the fourth quarter valued at approximately $15,945,000. 94.05% of the stock is currently owned by institutional investors.

Lumentum Price Performance

LITE stock opened at $59.96 on Wednesday. The company has a quick ratio of 3.60, a current ratio of 4.76 and a debt-to-equity ratio of 2.94. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of -7.80 and a beta of 1.14. The company’s fifty day simple moving average is $61.24 and its 200 day simple moving average is $74.88. Lumentum Holdings Inc. has a 12-month low of $38.29 and a 12-month high of $104.00.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.41). Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. On average, analysts expect that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Insider Buying and Selling at Lumentum

In other news, CFO Wajid Ali sold 2,172 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total value of $170,154.48. Following the completion of the sale, the chief financial officer now directly owns 51,976 shares in the company, valued at $4,071,799.84. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on LITE shares. Stifel Nicolaus raised their target price on Lumentum from $95.00 to $105.00 and gave the company a “buy” rating in a report on Friday, February 7th. Barclays reduced their price objective on Lumentum from $125.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Raymond James raised shares of Lumentum from an “outperform” rating to a “strong-buy” rating and dropped their target price for the stock from $96.00 to $82.00 in a report on Monday, March 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $110.00 price target on shares of Lumentum in a report on Friday, February 7th. Finally, Jefferies Financial Group assumed coverage on shares of Lumentum in a research note on Friday, February 21st. They issued a “buy” rating for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Lumentum has an average rating of “Moderate Buy” and an average price target of $82.60.

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.