CI Investments Inc. acquired a new stake in Lumentum Holdings Inc. (NASDAQ:LITE – Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 50,501 shares of the technology company’s stock, valued at approximately $35,490,000. CI Investments Inc. owned approximately 0.06% of Lumentum as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its position in shares of Lumentum by 18.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,854,801 shares of the technology company’s stock worth $683,661,000 after purchasing an additional 291,591 shares in the last quarter. Geode Capital Management LLC grew its holdings in Lumentum by 9.6% during the 4th quarter. Geode Capital Management LLC now owns 1,412,213 shares of the technology company’s stock valued at $521,563,000 after buying an additional 123,265 shares in the last quarter. Situational Awareness LP grew its holdings in Lumentum by 210.9% during the 4th quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock valued at $478,577,000 after buying an additional 880,800 shares in the last quarter. Norges Bank bought a new stake in shares of Lumentum during the fourth quarter valued at approximately $474,495,000. Finally, Value Aligned Research Advisors LLC bought a new stake in Lumentum in the 4th quarter valued at $432,062,000. Institutional investors own 94.05% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on LITE shares. B. Riley Financial restated a “buy” rating on shares of Lumentum in a research report on Friday, May 1st. Morgan Stanley boosted their target price on Lumentum from $710.00 to $900.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. increased their price target on Lumentum from $950.00 to $1,130.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Citic Securities raised their price target on Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. Finally, Craig Hallum lifted their price objective on Lumentum from $900.00 to $1,150.00 in a research note on Wednesday, May 6th. Fourteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,012.67.
Insider Activity at Lumentum
In other news, SVP Jae Kim sold 1,422 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $1,356,516.90. Following the transaction, the senior vice president owned 32,333 shares of the company’s stock, valued at approximately $30,844,065.35. The trade was a 4.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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, CFO Wajid Ali sold 2,487 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $2,372,473.65. Following the completion of the sale, the chief financial officer owned 60,951 shares of the company’s stock, valued at approximately $58,144,206.45. This represents a 3.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 sold a total of 41,260 shares of company stock valued at $38,859,220 over the last ninety days. 0.43% of the stock is currently owned by company insiders.
Lumentum Stock Performance
Shares of NASDAQ:LITE opened at $829.70 on Thursday. The firm has a fifty day simple moving average of $852.21 and a two-hundred day simple moving average of $722.46. Lumentum Holdings Inc. has a 52 week low of $99.92 and a 52 week high of $1,085.68. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $64.55 billion, a P/E ratio of 153.65 and a beta of 1.48.
Lumentum (NASDAQ:LITE – Get Free Report) last announced its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.10. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The firm had revenue of $808.40 million for the quarter, compared to analysts’ expectations of $810.21 million. During the same period in the prior year, the company earned $0.57 EPS. The business’s revenue was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, analysts expect that Lumentum Holdings Inc. will post 6.42 earnings per share for the current fiscal 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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