OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE – Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,228 shares of the technology company’s stock, valued at approximately $10,486,000.
Other large investors have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its position in shares of Lumentum by 8,579.2% in 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 purchasing an additional 1,545,199 shares during the period. Norges Bank bought a new position in Lumentum in the 4th quarter worth approximately $474,495,000. Value Aligned Research Advisors LLC purchased a new position in Lumentum in the 4th quarter valued at approximately $432,062,000. Situational Awareness LP grew its stake in Lumentum by 210.9% in 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. Finally, Aspex Management HK Ltd purchased a new position in Lumentum in the 4th quarter valued at approximately $251,363,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.
Insider Buying and Selling
In other Lumentum news, SVP Jae Kim sold 1,366 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $909.43, for a total value of $1,242,281.38. Following the transaction, the senior vice president directly owned 45,973 shares in the company, valued at $41,809,225.39. This represents a 2.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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, insider Vincent Retort sold 3,183 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $909.43, for a total value of $2,894,715.69. Following the completion of the transaction, the insider owned 114,495 shares in the company, valued at $104,125,187.85. This represents a 2.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 quarter, insiders have sold 9,965 shares of company stock worth $8,993,110. Corporate insiders own 0.43% of the company’s stock.
Lumentum Stock Performance
Lumentum (NASDAQ:LITE – Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The technology company reported $3.23 EPS for the quarter, beating the consensus estimate of $2.97 by $0.26. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $987.70 million. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The business’s quarterly revenue was up 109.3% compared to the same quarter last year. During the same period last year, the firm earned $0.88 EPS. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Analysts predict that Lumentum Holdings Inc. will post 16.95 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on LITE shares. Citigroup restated a “buy” rating on shares of Lumentum in a research report on Wednesday, August 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $1,300.00 price target on shares of Lumentum in a research report on Wednesday, August 12th. TD Cowen boosted their price objective on Lumentum from $800.00 to $820.00 and gave the company a “hold” rating in a research note on Wednesday, August 12th. Weiss Ratings cut Lumentum from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 5th. Finally, Barclays increased their price objective on Lumentum from $750.00 to $1,000.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Thirteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Lumentum currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,044.67.
Read Our Latest Report on Lumentum
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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