New York State Teachers Retirement System Reduces Position in Lumentum Holdings Inc. $LITE

New York State Teachers Retirement System lessened its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 4.9% during the 4th quarter, HoldingsChannel reports. The fund owned 67,070 shares of the technology company’s stock after selling 3,421 shares during the quarter. New York State Teachers Retirement System’s holdings in Lumentum were worth $24,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of LITE. Federated Hermes Inc. lifted its holdings in shares of Lumentum by 7,168.8% during the 3rd quarter. Federated Hermes Inc. now owns 362,352 shares of the technology company’s stock worth $58,958,000 after acquiring an additional 357,367 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Lumentum during the 4th quarter valued at about $6,755,000. FengHe Fund Management Pte. Ltd. bought a new position in Lumentum during the 3rd quarter valued at about $71,771,000. Headwater Capital Co Ltd bought a new position in Lumentum during the 3rd quarter valued at about $20,339,000. Finally, China Universal Asset Management Co. Ltd. bought a new position in Lumentum during the 3rd quarter valued at about $1,383,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Analyst Ratings Changes

LITE has been the subject of several analyst reports. Citigroup lifted their price target on shares of Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. UBS Group boosted their target price on shares of Lumentum from $215.00 to $455.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. JPMorgan Chase & Co. boosted their target price on shares of Lumentum to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Mizuho boosted their target price on shares of Lumentum from $750.00 to $930.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 8th. Finally, TD Cowen boosted their target price on shares of Lumentum from $675.00 to $875.00 and gave the stock a “hold” rating in a research note on Friday, April 10th. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $757.25.

Lumentum Stock Up 5.3%

Shares of NASDAQ:LITE opened at $949.93 on Friday. The stock has a market cap of $67.83 billion, a price-to-earnings ratio of 291.39 and a beta of 1.53. The company has a 50 day moving average of $760.12 and a 200-day moving average of $484.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.61 and a quick ratio of 0.45. Lumentum Holdings Inc. has a one year low of $60.38 and a one year high of $985.13.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Tuesday, February 3rd. The technology company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.26. The firm had revenue of $665.50 million during the quarter, compared to analysts’ expectations of $646.74 million. Lumentum had a net margin of 11.95% and a return on equity of 17.27%. The business’s revenue for the quarter was up 65.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.42 earnings per share. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. On average, sell-side analysts forecast that Lumentum Holdings Inc. will post 5.87 earnings per share for the current year.

Insider Activity

In related news, CFO Wajid Ali sold 5,302 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer owned 66,287 shares in the company, valued at approximately $45,812,934.31. The trade was a 7.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Penny Herscher sold 4,849 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $535.48, for a total transaction of $2,596,542.52. Following the transaction, the director owned 6,057 shares of the company’s stock, valued at approximately $3,243,402.36. This represents a 44.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 65,775 shares of company stock worth $38,851,343 in the last ninety days. Company insiders own 0.43% of the company’s stock.

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.