Raymond James & Associates Has $4.61 Million Stock Holdings in Lumentum Holdings Inc. (NASDAQ:LITE)

Raymond James & Associates lowered its position in Lumentum Holdings Inc. (NASDAQ:LITE – Get Rating) by 37.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 88,425 shares of the technology company’s stock after selling 52,114 shares during the period. Raymond James & Associates owned 0.13% of Lumentum worth $4,613,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LITE. HighTower Advisors LLC increased its stake in shares of Lumentum by 6.7% in the 1st quarter. HighTower Advisors LLC now owns 5,729 shares of the technology company’s stock valued at $557,000 after acquiring an additional 358 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Lumentum by 23.3% in the 1st quarter. Private Advisor Group LLC now owns 5,083 shares of the technology company’s stock valued at $496,000 after acquiring an additional 960 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Lumentum by 10.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,461 shares of the technology company’s stock valued at $2,583,000 after purchasing an additional 2,490 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in Lumentum by 7.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 39,147 shares of the technology company’s stock valued at $3,926,000 after purchasing an additional 2,686 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Lumentum by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 805,662 shares of the technology company’s stock valued at $78,633,000 after purchasing an additional 53,978 shares in the last quarter. Institutional investors and hedge funds own 92.46% of the company’s stock.

Wall Street Analyst Weigh In

LITE has been the subject of a number of recent research reports. UBS Group decreased their price target on shares of Lumentum from $59.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, April 6th. Stifel Nicolaus decreased their price target on shares of Lumentum from $67.00 to $62.00 in a research note on Wednesday, May 10th. Barclays lowered shares of 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 note on Wednesday, May 10th. Craig Hallum downgraded shares of Lumentum from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a report on Thursday, April 6th. Finally, Rosenblatt Securities downgraded shares of Lumentum from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $77.00 to $48.00 in a report on Thursday, April 6th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $58.27.

Lumentum Stock Down 2.5 %

Shares of NASDAQ LITE opened at $47.06 on Wednesday. Lumentum Holdings Inc. has a one year low of $42.00 and a one year high of $96.46. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.20 and a quick ratio of 2.67. The firm’s 50 day simple moving average is $48.18 and its two-hundred day simple moving average is $53.11. The stock has a market capitalization of $3.22 billion, a P/E ratio of -85.56, a PEG ratio of 3.02 and a beta of 1.10.

Lumentum (NASDAQ:LITE – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The technology company reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. Lumentum had a negative net margin of 2.02% and a positive return on equity of 16.02%. The business had revenue of $383.40 million for the quarter, compared to analysts’ expectations of $393.08 million. As a group, analysts expect that Lumentum Holdings Inc. will post 2.76 EPS for the current fiscal year.

Lumentum Company Profile

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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.