14,669 Shares in Lumentum Holdings Inc. $LITE Acquired by IFM Investors Pty Ltd

IFM Investors Pty Ltd purchased a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 14,669 shares of the technology company’s stock, valued at approximately $10,309,000.

A number of other hedge funds also recently made changes to their positions in LITE. Nomura Asset Management Co. Ltd. grew its position in Lumentum by 45.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company’s stock valued at $136,306,000 after acquiring an additional 114,714 shares during the period. Andar Capital Management HK Ltd purchased a new position in shares of Lumentum in the 4th quarter worth about $4,325,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Lumentum in the 4th quarter valued at about $6,755,000. Maxi Investments CY Ltd acquired a new position in shares of Lumentum in the 4th quarter valued at about $2,212,000. Finally, Estate Counselors LLC purchased a new stake in shares of Lumentum during the 4th quarter worth about $4,239,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on LITE shares. Raymond James Financial restated an “outperform” rating and issued a $1,014.00 price target on shares of Lumentum in a report on Wednesday, May 6th. Morgan Stanley raised their target price on shares of Lumentum from $710.00 to $900.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. TD Cowen lifted their target price on shares of Lumentum from $875.00 to $995.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. UBS Group upped their price target on shares of Lumentum from $455.00 to $960.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, BNP Paribas Exane raised their price objective on Lumentum from $1,040.00 to $1,300.00 in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.95.

Lumentum Trading Down 6.6%

LITE opened at $801.16 on Thursday. The firm has a market capitalization of $62.33 billion, a P/E ratio of 148.36 and a beta of 1.48. The firm’s 50 day moving average is $897.63 and its 200-day moving average is $680.63. Lumentum Holdings Inc. has a 52-week low of $88.37 and a 52-week high of $1,085.68. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01.

Lumentum (NASDAQ:LITE) last announced its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.10. The business had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The business’s quarterly revenue was up 90.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Analysts expect that Lumentum Holdings Inc. will post 6.4 EPS for the current fiscal year.

Insider Activity at Lumentum

In related news, SVP Jae Kim sold 1,422 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $1,356,516.90. Following the transaction, the senior vice president owned 32,333 shares in the company, valued at approximately $30,844,065.35. The trade was a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 2,487 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $2,372,473.65. Following the completion of the transaction, the chief financial officer directly owned 60,951 shares of the company’s stock, valued at $58,144,206.45. This represents a 3.92% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 sold 41,260 shares of company stock valued at $38,859,220. 0.43% of the stock is currently owned by insiders.

Lumentum 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.