Systematic Financial Management LP purchased a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE – Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,000 shares of the technology company’s stock, valued at approximately $369,000.
A number of other hedge funds also recently modified their holdings of LITE. Advisors Asset Management Inc. lifted its holdings in shares of Lumentum by 36.8% during the first quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock worth $59,000 after purchasing an additional 254 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Lumentum by 109.9% during the first quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company’s stock worth $747,000 after purchasing an additional 6,275 shares during the period. Empowered Funds LLC lifted its holdings in shares of Lumentum by 9.1% during the first quarter. Empowered Funds LLC now owns 8,139 shares of the technology company’s stock worth $507,000 after purchasing an additional 680 shares during the period. Hsbc Holdings PLC acquired a new position in shares of Lumentum during the second quarter worth $298,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Lumentum during the second quarter worth $1,712,000. Institutional investors and hedge funds own 94.05% of the company’s stock.
Insiders Place Their Bets
In related news, insider Vincent Retort sold 3,183 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $3,036,422.85. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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, CFO Wajid Ali sold 5,302 shares of Lumentum stock in a transaction on Friday, February 27th. The shares were sold at an average price of $691.13, for a total transaction of $3,664,371.26. Following the completion of the sale, the chief financial officer directly owned 66,287 shares of the company’s stock, valued at approximately $45,812,934.31. This trade represents a 7.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,146 shares of company stock valued at $37,667,478 over the last quarter. Company insiders own 0.43% of the company’s stock.
Lumentum Price Performance
Lumentum (NASDAQ:LITE – Get Free Report) last released 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. The business had revenue of $808.40 million for the quarter, compared to analyst estimates of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. Lumentum’s revenue for the quarter was up 90.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, analysts expect that Lumentum Holdings Inc. will post 6.49 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on LITE shares. Loop Capital lifted their price target on shares of Lumentum from $900.00 to $1,400.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Northland Securities set a $1,000.00 price target on shares of Lumentum in a report on Monday, April 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lumentum in a report on Tuesday, April 21st. Mizuho set a $1,100.00 price target on shares of Lumentum in a report on Wednesday, May 6th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $1,014.00 price target on shares of Lumentum in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,012.43.
Check Out Our Latest Research 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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