F&V Capital Management LLC Increases Position in Lumentum Holdings Inc. (NASDAQ:LITE)

F&V Capital Management LLC boosted its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 1.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 141,390 shares of the technology company’s stock after purchasing an additional 2,060 shares during the period. Lumentum comprises 2.0% of F&V Capital Management LLC’s portfolio, making the stock its 25th largest position. F&V Capital Management LLC owned 0.21% of Lumentum worth $6,695,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LITE. Ramirez Asset Management Inc. acquired a new stake in shares of Lumentum in the third quarter valued at $32,000. Neo Ivy Capital Management purchased a new stake in shares of Lumentum during the third quarter valued at $32,000. Principal Securities Inc. purchased a new stake in Lumentum during the fourth quarter valued at about $55,000. Whittier Trust Co. increased its position in shares of Lumentum by 697.7% in the fourth quarter. Whittier Trust Co. now owns 1,715 shares of the technology company’s stock worth $90,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Lumentum during the third quarter valued at approximately $180,000. 94.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on LITE shares. Needham & Company LLC dropped their target price on Lumentum from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Raymond James upped their price objective on shares of Lumentum from $51.50 to $58.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. Stifel Nicolaus reissued a “buy” rating and set a $62.00 price objective on shares of Lumentum in a research report on Monday, April 1st. B. Riley dropped their price target on Lumentum from $41.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Finally, Barclays reduced their target price on shares of Lumentum from $40.00 to $38.00 and set an “underweight” rating for the company in a research note on Tuesday, May 7th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lumentum currently has a consensus rating of “Hold” and an average target price of $52.25.

Lumentum Trading Down 0.1 %

LITE stock traded down $0.06 during trading on Wednesday, hitting $49.13. The company had a trading volume of 621,744 shares, compared to its average volume of 1,298,215. The company has a quick ratio of 3.87, a current ratio of 5.20 and a debt-to-equity ratio of 2.13. Lumentum Holdings Inc. has a 12 month low of $35.35 and a 12 month high of $60.99. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of -9.36 and a beta of 0.95. The firm has a 50-day moving average price of $45.05 and a 200-day moving average price of $48.30.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Monday, May 6th. The technology company reported ($0.18) earnings per share for the quarter, meeting the consensus estimate of ($0.18). The business had revenue of $366.50 million for the quarter, compared to analyst estimates of $366.53 million. Lumentum had a negative net margin of 24.91% and a negative return on equity of 1.72%. As a group, analysts predict that Lumentum Holdings Inc. will post -0.64 earnings per share for the current year.

Lumentum Company 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.