Swedbank AB lifted its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE – Free Report) by 457.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 332,440 shares of the technology company’s stock after purchasing an additional 272,840 shares during the quarter. Swedbank AB owned 0.47% of Lumentum worth $233,626,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Hilton Head Capital Partners LLC bought a new stake in Lumentum during the 1st quarter worth approximately $25,000. V Square Quantitative Management LLC bought a new position in Lumentum in the fourth quarter valued at approximately $28,000. Truvestments Capital LLC boosted its holdings in shares of Lumentum by 300.0% in the fourth quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after buying an additional 57 shares during the period. Triumph Capital Management acquired a new position in shares of Lumentum in the fourth quarter valued at approximately $30,000. Finally, Danske Bank A S acquired a new position in shares of Lumentum in the third quarter valued at approximately $33,000. Institutional investors own 94.05% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently commented on LITE shares. Weiss Ratings restated a “hold (c)” rating on shares of Lumentum in a report on Tuesday, April 21st. Morgan Stanley upped their target price on shares of Lumentum from $710.00 to $900.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. TD Cowen increased their target price on Lumentum from $875.00 to $995.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Rosenblatt Securities lifted their price target on Lumentum from $900.00 to $1,300.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $1,200.00 price target on shares of Lumentum in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Lumentum has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.95.
Insider Activity
In other news, CFO Wajid Ali sold 2,487 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $2,372,473.65. Following the completion of the transaction, the chief financial officer directly owned 60,951 shares in the company, valued at $58,144,206.45. This represents a 3.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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. Also, Director Ian Small sold 4,954 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $868.07, for a total value of $4,300,418.78. Following the completion of the transaction, the director owned 21,008 shares of the company’s stock, valued at $18,236,414.56. The trade was a 19.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 41,260 shares of company stock worth $38,859,220. 0.43% of the stock is currently owned by company insiders.
Lumentum Stock Down 5.0%
Shares of NASDAQ LITE traded down $36.70 during midday trading on Tuesday, reaching $694.55. The company’s stock had a trading volume of 1,731,874 shares, compared to its average volume of 5,926,246. The stock has a 50 day simple moving average of $890.24 and a 200-day simple moving average of $689.17. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $54.04 billion, a price-to-earnings ratio of 128.62 and a beta of 1.48. Lumentum Holdings Inc. has a fifty-two week low of $88.93 and a fifty-two week high of $1,085.68.
Lumentum (NASDAQ:LITE – Get Free Report) last announced its earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.27 by $0.10. The business had revenue of $808.40 million during the quarter, compared to analysts’ expectations of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The firm’s revenue was up 90.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Equities research analysts predict that Lumentum Holdings Inc. will post 6.4 earnings per share for the current year.
About Lumentum
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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