State of Alaska Department of Revenue increased its stake in Lumentum Holdings Inc. (NASDAQ:LITE – Free Report) by 10.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,396 shares of the technology company’s stock after purchasing an additional 773 shares during the quarter. State of Alaska Department of Revenue’s holdings in Lumentum were worth $8,154,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of LITE. Financiere des Professionnels Fonds d investissement inc. acquired a new stake in shares of Lumentum in the first quarter worth $2,046,000. Styrax Capital LP grew its holdings in shares of Lumentum by 3.6% during the first quarter. Styrax Capital LP now owns 140,000 shares of the technology company’s stock valued at $98,386,000 after buying an additional 4,837 shares in the last quarter. Whittier Trust Co. grew its holdings in shares of Lumentum by 21,806.5% during the first quarter. Whittier Trust Co. now owns 74,044 shares of the technology company’s stock valued at $57,183,000 after buying an additional 73,706 shares in the last quarter. Swiss National Bank raised its position in Lumentum by 47.2% during the first quarter. Swiss National Bank now owns 208,015 shares of the technology company’s stock valued at $146,185,000 after buying an additional 66,700 shares during the period. Finally, Patton Fund Management Inc. acquired a new position in Lumentum during the first quarter valued at $5,201,000. Institutional investors and hedge funds own 94.05% of the company’s stock.
More Lumentum News
Here are the key news stories impacting Lumentum this week:
- Positive Sentiment: Analyst price targets remain above the current share price. A survey of 23 analysts produced an average target of $1,078.75, implying substantial potential upside, while Stifel raised its target from $1,100 to $1,232. These targets indicate that some analysts still expect strong demand for Lumentum’s photonics and optical components. 23 analysts set USD 1,078.75 target for Lumentum stock Stifel raised target for Lumentum stock
- Positive Sentiment: The long-term AI investment case remains intact. Investor commentary highlights Lumentum’s transformation from a cyclical smartphone laser supplier into a key provider of optical technology for AI infrastructure. Its recent earnings growth and stronger order book support the longer-term bullish thesis, although the article does not provide a new near-term catalyst. The Long-Term Investment Case for Lumentum
- Neutral Sentiment: Sector sentiment is deteriorating. Optical suppliers, including Lumentum, Coherent, and Applied Optoelectronics, are falling together as money rotates toward defensive sectors and investors question how quickly AI data-center projects will be funded. This appears to be a valuation and sentiment-driven pullback across the group. Optical Stocks Extend Slide as Money Rotates Into Defensives
- Negative Sentiment: Zacks downgraded LITE from Strong Buy to Hold. The less bullish recommendation is weighing on the stock, particularly after its substantial rally and amid broader concerns about AI infrastructure spending. Zacks downgrades Lumentum to Hold
Insider Transactions at Lumentum
In other Lumentum news, SVP Jae Kim sold 12,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $852.58, for a total value of $10,230,960.00. Following the transaction, the senior vice president owned 37,804 shares in the company, valued at $32,230,934.32. The trade was a 24.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 1,500 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $827.82, for a total value of $1,241,730.00. Following the completion of the transaction, the insider directly owned 100,434 shares in the company, valued at approximately $83,141,273.88. The trade was a 1.47% 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 ninety days, insiders have sold 94,496 shares of company stock valued at $85,978,498. Corporate insiders own 0.28% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the company. Wolfe Research reissued an “outperform” rating on shares of Lumentum in a research note on Friday, August 21st. Mizuho lifted their target price on Lumentum from $1,100.00 to $1,140.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Sanford C. Bernstein started coverage on Lumentum in a report on Wednesday, September 30th. They issued an “outperform” rating and a $1,220.00 target price on the stock. Citigroup upped their target price on Lumentum from $1,200.00 to $1,400.00 and gave the company a “buy” rating in a report on Monday, September 28th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $1,300.00 price target on shares of Lumentum in a research report on Monday, October 5th. Sixteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Lumentum currently has an average rating of “Moderate Buy” and a consensus price target of $1,078.75.
View Our Latest Stock Report on LITE
Lumentum Trading Down 3.0%
Shares of NASDAQ:LITE opened at $869.54 on Friday. The firm has a fifty day moving average of $932.80 and a two-hundred day moving average of $876.43. The company has a quick ratio of 1.40, a current ratio of 1.68 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a 12-month low of $152.54 and a 12-month high of $1,143.00. The firm has a market capitalization of $78.76 billion, a P/E ratio of -10.58 and a beta of 1.53.
Lumentum (NASDAQ:LITE – Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.26. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $987.70 million. During the same period in the prior year, the business posted $0.88 earnings per share. Lumentum’s revenue for the quarter was up 109.3% compared to the same quarter last year. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. On average, equities analysts expect that Lumentum Holdings Inc. will post 19.79 EPS for the current fiscal year.
Lumentum Company Profile
Lumentum Holdings Inc is a photonics and optical technology company that develops and manufactures products used to transmit, process and manage light. Its solutions support communications networks, data centers, cloud computing infrastructure, industrial applications, and other technology markets that rely on high-speed optical connectivity and precision lasers.
The company’s product portfolio includes optical components and modules for telecommunications and networking, lasers and laser systems, optical amplifiers, wavelength-management products, and photonic subsystems.
Read More
- Five stocks we like better than Lumentum
- ASML Can’t Keep Up With AI Demand—Why That’s a Good Thing
- Enovix’s 100,000-Battery Drone Order Sets Up a Test of Its Production Plans
- AMD’s Support Could Help Fermi Stock Overcome Its Biggest Hurdle
- Beyond the GPU: Credo Paves the Next AI Data Superhighway
Want to see what other hedge funds are holding LITE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lumentum Holdings Inc. (NASDAQ:LITE – Free Report).
Receive News & Ratings for Lumentum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumentum and related companies with MarketBeat.com's FREE daily email newsletter.
