Lombard Odier Asset Management Switzerland SA purchased a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE – Free Report) during the first quarter, HoldingsChannel reports. The firm purchased 1,381 shares of the technology company’s stock, valued at approximately $971,000.
A number of other hedge funds have also recently added to or reduced their stakes in LITE. Arrowstreet Capital Limited Partnership increased its holdings in shares of Lumentum by 8,579.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock valued at $254,350,000 after acquiring an additional 1,545,199 shares in the last quarter. Norges Bank acquired a new stake in Lumentum in the 4th quarter valued at $474,495,000. Value Aligned Research Advisors LLC acquired a new stake in Lumentum in the 4th quarter valued at $432,062,000. Situational Awareness LP increased its stake 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 purchasing an additional 880,800 shares in the last quarter. Finally, Aspex Management HK Ltd bought a new stake in Lumentum during the 4th quarter valued at $251,363,000. Institutional investors and hedge funds own 94.05% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have recently commented on LITE shares. Rosenblatt Securities increased their price objective on Lumentum from $900.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. TD Cowen cut their target price on Lumentum from $995.00 to $800.00 and set a “hold” rating on the stock in a research report on Monday, July 13th. Needham & Company LLC reiterated a “buy” rating and set a $1,040.00 price target on shares of Lumentum in a report on Tuesday, June 9th. Jefferies Financial Group reissued a “buy” rating and issued a $1,200.00 price target on shares of Lumentum in a research report on Wednesday, May 6th. Finally, Zacks Research downgraded shares of Lumentum from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Fourteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,012.67.
Insider Transactions at Lumentum
In other news, Director Ian Small sold 4,954 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the completion of the sale, the director directly owned 21,008 shares of the company’s stock, valued at $18,236,414.56. This trade represents a 19.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Vincent Retort sold 3,183 shares of Lumentum stock in a transaction on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $3,036,422.85. Following the sale, the insider owned 89,563 shares in the company, valued at $85,438,623.85. The trade was a 3.43% 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. Over the last three months, insiders have sold 41,260 shares of company stock worth $38,859,220. Company insiders own 0.43% of the company’s stock.
Lumentum Price Performance
Shares of NASDAQ LITE opened at $711.96 on Tuesday. The company has a market capitalization of $55.39 billion, a PE ratio of 131.84 and a beta of 1.48. 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’s 50 day moving average price is $841.23 and its 200-day moving average price is $730.69. Lumentum Holdings Inc. has a twelve month low of $101.61 and a twelve month high of $1,085.68.
Lumentum (NASDAQ:LITE – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.10. The company had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.Lumentum’s revenue was up 90.1% on a year-over-year basis. During the same period last year, the business posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, equities analysts anticipate that Lumentum Holdings Inc. will post 6.42 EPS for the current year.
Lumentum Company Profile
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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