Evergreen Quality Fund GP Ltd. Invests $75.05 Million in Lumentum Holdings Inc. $LITE

Evergreen Quality Fund GP Ltd. acquired a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITEFree Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 203,600 shares of the technology company’s stock, valued at approximately $75,045,000. Lumentum comprises approximately 1.5% of Evergreen Quality Fund GP Ltd.’s investment portfolio, making the stock its 17th biggest position.

A number of other hedge funds also recently bought and sold shares of LITE. Truvestments Capital LLC boosted its stake in Lumentum by 300.0% in the fourth quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock worth $28,000 after buying an additional 57 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Lumentum during the fourth quarter worth approximately $28,000. Triumph Capital Management bought a new stake in shares of Lumentum in the 4th quarter worth approximately $30,000. Harbour Investments Inc. lifted its holdings in shares of Lumentum by 675.0% in the 4th quarter. Harbour Investments Inc. now owns 93 shares of the technology company’s stock worth $34,000 after acquiring an additional 81 shares during the last quarter. Finally, Chesapeake Asset Management LLC purchased a new stake in shares of Lumentum in the 4th quarter valued at $37,000. Institutional investors own 94.05% of the company’s stock.

Lumentum Price Performance

Shares of Lumentum stock opened at $869.98 on Thursday. The company’s fifty day simple moving average is $903.17 and its two-hundred day simple moving average is $644.68. Lumentum Holdings Inc. has a 12-month low of $86.57 and a 12-month high of $1,085.68. The firm has a market cap of $67.68 billion, a PE ratio of 161.11 and a beta of 1.47. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01.

Lumentum (NASDAQ:LITEGet Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.27 by $0.10. The firm had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The company’s quarterly revenue was up 90.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, equities analysts expect that Lumentum Holdings Inc. will post 6.4 EPS for the current year.

Insider Buying and Selling at Lumentum

In other news, Director Isaac Hosojiro Harris sold 4,000 shares of Lumentum stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $860.00, for a total value of $3,440,000.00. Following the sale, the director directly owned 8,400 shares in the company, valued at approximately $7,224,000. This trade represents a 32.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 3,210 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $3,062,179.50. Following the transaction, the insider directly owned 81,488 shares in the company, valued at $77,735,477.60. This trade represents a 3.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 41,260 shares of company stock worth $38,859,220 over the last three months. 0.43% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Zacks Research raised shares of Lumentum from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. TD Cowen raised their price objective on Lumentum from $875.00 to $995.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Citigroup lifted their price objective on Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Jefferies Financial Group reissued a “buy” rating and issued a $1,200.00 target price on shares of Lumentum in a research note on Wednesday, May 6th. Finally, Citic Securities raised their price target on Lumentum from $620.00 to $1,186.00 in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,021.95.

View Our Latest Analysis on Lumentum

Lumentum Profile

(Free Report)

Lumentum Holdings Inc, headquartered in San Jose, California, is a leading provider of photonic technologies that enable high-speed optical communication networks and advanced industrial applications. The company designs and manufactures a broad range of lasers, optical modules and subsystems tailored to the evolving requirements of telecommunications carriers, cloud data centers and enterprise networking.

Its core product portfolio includes tunable and fixed-wavelength laser transmitters, coherent optical engines, transceivers for long-haul, metro and data center interconnects, as well as test and measurement instruments.

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Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

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