Hsbc Holdings PLC Has $456,000 Stake in Lumentum Holdings Inc. (NASDAQ:LITE)

Hsbc Holdings PLC boosted its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 95.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,055 shares of the technology company’s stock after purchasing an additional 4,415 shares during the period. Hsbc Holdings PLC’s holdings in Lumentum were worth $456,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Signaturefd LLC grew its holdings in Lumentum by 93.9% during the 2nd quarter. Signaturefd LLC now owns 1,144 shares of the technology company’s stock worth $58,000 after acquiring an additional 554 shares during the period. EntryPoint Capital LLC bought a new position in Lumentum in the 1st quarter valued at about $112,000. nVerses Capital LLC lifted its position in Lumentum by 416.7% in the 2nd quarter. nVerses Capital LLC now owns 3,100 shares of the technology company’s stock valued at $158,000 after acquiring an additional 2,500 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in Lumentum in the 2nd quarter valued at about $210,000. Finally, Perigon Wealth Management LLC bought a new position in Lumentum in the 1st quarter valued at about $236,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on LITE shares. Craig Hallum increased their price objective on shares of Lumentum from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. increased their price objective on shares of Lumentum from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Barclays increased their price objective on shares of Lumentum from $38.00 to $40.00 and gave the company an “underweight” rating in a research note on Thursday, August 15th. Jefferies Financial Group increased their price objective on shares of Lumentum from $53.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, Needham & Company LLC increased their price objective on shares of Lumentum from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Three analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lumentum has an average rating of “Hold” and an average target price of $59.08.

Lumentum Trading Down 3.0 %

Shares of LITE stock opened at $61.49 on Wednesday. Lumentum Holdings Inc. has a 12-month low of $35.35 and a 12-month high of $65.52. The firm has a market cap of $4.16 billion, a P/E ratio of -11.71, a PEG ratio of 4.83 and a beta of 0.88. The company has a quick ratio of 4.43, a current ratio of 5.90 and a debt-to-equity ratio of 2.61. The company has a 50 day moving average of $53.76 and a 200-day moving average of $49.81.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Wednesday, August 14th. The technology company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. Lumentum had a negative net margin of 40.21% and a negative return on equity of 4.79%. The business had revenue of $308.30 million during the quarter, compared to analyst estimates of $301.36 million. During the same period in the previous year, the business earned $0.12 EPS. Lumentum’s revenue was down 16.9% compared to the same quarter last year. Sell-side analysts anticipate that Lumentum Holdings Inc. will post 0.22 earnings per share for the current year.

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.