12,000 Shares in Lumentum Holdings Inc. (NASDAQ:LITE) Acquired by P.A.W. Capital Corp

P.A.W. Capital Corp bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,000 shares of the technology company’s stock, valued at approximately $1,007,000. Lumentum accounts for about 1.9% of P.A.W. Capital Corp’s holdings, making the stock its 13th largest holding.

A number of other large investors have also recently made changes to their positions in the company. Atreides Management LP increased its stake in Lumentum by 28.5% in the third quarter. Atreides Management LP now owns 1,691,017 shares of the technology company’s stock valued at $107,177,000 after purchasing an additional 375,389 shares during the last quarter. Geode Capital Management LLC increased its stake in Lumentum by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,186,163 shares of the technology company’s stock valued at $75,198,000 after purchasing an additional 15,799 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Lumentum by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 738,155 shares of the technology company’s stock valued at $46,784,000 after purchasing an additional 37,109 shares during the last quarter. Pinnacle Associates Ltd. increased its stake in Lumentum by 50.4% in the third quarter. Pinnacle Associates Ltd. now owns 407,789 shares of the technology company’s stock valued at $25,846,000 after purchasing an additional 136,659 shares during the last quarter. Finally, Emerald Advisers LLC increased its stake in Lumentum by 29.1% in the third quarter. Emerald Advisers LLC now owns 378,535 shares of the technology company’s stock valued at $23,992,000 after purchasing an additional 85,353 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LITE. Rosenblatt Securities restated a “buy” rating and set a $110.00 target price on shares of Lumentum in a research report on Friday, February 7th. Susquehanna raised their target price on shares of Lumentum from $80.00 to $115.00 and gave the stock a “positive” rating in a research report on Friday, November 8th. B. Riley raised their target price on shares of Lumentum from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Needham & Company LLC restated a “buy” rating and set a $110.00 target price on shares of Lumentum in a research report on Friday, February 7th. Finally, Northland Securities raised their target price on shares of Lumentum from $60.00 to $70.00 and gave the stock a “market perform” rating in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Lumentum has a consensus rating of “Hold” and an average target price of $88.07.

Insider Transactions at Lumentum

In related news, CFO Wajid Ali sold 2,172 shares of Lumentum stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total transaction of $170,154.48. Following the completion of the sale, the chief financial officer now owns 51,976 shares in the company, valued at approximately $4,071,799.84. This trade represents a 4.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Vincent Retort sold 41,710 shares of Lumentum stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.52, for a total value of $3,733,879.20. Following the completion of the sale, the insider now owns 147,515 shares of the company’s stock, valued at $13,205,542.80. This trade represents a 22.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,769 shares of company stock valued at $6,446,222 in the last 90 days. 0.19% of the stock is currently owned by insiders.

Lumentum Price Performance

Lumentum stock opened at $73.35 on Friday. Lumentum Holdings Inc. has a one year low of $38.28 and a one year high of $104.00. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76. The business has a fifty day moving average of $85.22 and a two-hundred day moving average of $73.69. The company has a market cap of $5.08 billion, a P/E ratio of -9.54 and a beta of 0.94.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative return on equity of 7.25% and a negative net margin of 36.98%. As a group, analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

About Lumentum

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.