Connor Clark & Lunn Investment Management Ltd. Invests $9.55 Million in Lumentum Holdings Inc. $LITE

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 100,474 shares of the technology company’s stock, valued at approximately $9,551,000.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Lumentum by 0.6% during the first quarter. Vanguard Group Inc. now owns 7,430,185 shares of the technology company’s stock worth $463,198,000 after purchasing an additional 47,811 shares during the last quarter. PointState Capital LP acquired a new position in Lumentum during the 1st quarter worth about $213,503,000. Atreides Management LP grew its holdings in Lumentum by 6.8% during the 1st quarter. Atreides Management LP now owns 1,875,257 shares of the technology company’s stock worth $116,904,000 after acquiring an additional 119,938 shares during the last quarter. Alliancebernstein L.P. increased its position in Lumentum by 1.1% in the 1st quarter. Alliancebernstein L.P. now owns 1,731,041 shares of the technology company’s stock valued at $107,913,000 after acquiring an additional 19,085 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its stake in shares of Lumentum by 26.9% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,063,529 shares of the technology company’s stock worth $66,300,000 after acquiring an additional 225,240 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wolfe Research restated an “outperform” rating and issued a $240.00 price objective on shares of Lumentum in a research report on Wednesday, November 5th. Wall Street Zen lowered Lumentum from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Susquehanna lifted their price objective on Lumentum from $140.00 to $190.00 and gave the stock a “positive” rating in a research report on Wednesday, October 22nd. Zacks Research cut Lumentum from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Finally, Rosenblatt Securities raised their target price on shares of Lumentum to $280.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Lumentum has an average rating of “Moderate Buy” and a consensus target price of $190.67.

Lumentum Trading Down 2.9%

NASDAQ:LITE opened at $252.47 on Wednesday. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.37 and a quick ratio of 1.02. The business’s 50-day simple moving average is $174.74 and its 200-day simple moving average is $122.05. Lumentum Holdings Inc. has a fifty-two week low of $45.65 and a fifty-two week high of $273.89. The stock has a market capitalization of $17.90 billion, a PE ratio of 169.44 and a beta of 1.48.

Lumentum (NASDAQ:LITE) last announced its earnings results on Tuesday, November 4th. The technology company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.03 by $0.07. Lumentum had a net margin of 6.11% and a return on equity of 4.62%. The firm had revenue of $533.80 million for the quarter, compared to the consensus estimate of $525.10 million. During the same period last year, the company posted $0.18 EPS. The business’s quarterly revenue was up 58.4% on a year-over-year basis. Lumentum has set its Q2 2026 guidance at 1.300-1.500 EPS. Sell-side analysts expect that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Julia Suzanne Johnson sold 1,250 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $119.06, for a total value of $148,825.00. Following the completion of the transaction, the director directly owned 22,037 shares of the company’s stock, valued at approximately $2,623,725.22. This represents a 5.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew Joseph Sepe sold 4,232 shares of Lumentum stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $239.63, for a total value of $1,014,114.16. Following the completion of the sale, the chief accounting officer directly owned 43,544 shares in the company, valued at $10,434,448.72. This represents a 8.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 22,430 shares of company stock worth $3,195,001 in the last ninety days. 0.43% of the stock is owned by insiders.

Lumentum Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.