California State Teachers Retirement System Has $57.65 Million Holdings in Lumentum Holdings Inc. $LITE

California State Teachers Retirement System lifted its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 21.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,030 shares of the technology company’s stock after purchasing an additional 14,737 shares during the quarter. California State Teachers Retirement System owned 0.11% of Lumentum worth $57,647,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its stake in Lumentum by 8,579.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock valued at $254,350,000 after buying an additional 1,545,199 shares during the last quarter. Norges Bank bought a new stake in Lumentum during the 4th quarter worth about $474,495,000. Value Aligned Research Advisors LLC acquired a new position in shares of Lumentum during the 4th quarter worth about $432,062,000. Situational Awareness LP boosted its stake in shares of Lumentum by 210.9% during the 4th quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock worth $478,577,000 after buying an additional 880,800 shares during the last quarter. Finally, Aspex Management HK Ltd bought a new position in shares of Lumentum in the 4th quarter valued at about $251,363,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on LITE shares. Morgan Stanley lifted their target price on Lumentum from $710.00 to $900.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Citic Securities increased their price target on Lumentum from $620.00 to $1,186.00 in a research report on Monday, May 11th. Loop Capital raised their price target on Lumentum from $900.00 to $1,400.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Stifel Nicolaus upped their price objective on Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Finally, Barclays raised their target price on shares of Lumentum from $750.00 to $1,000.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Fourteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Lumentum currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,012.67.

Insider Activity

In other news, insider Vincent Retort sold 3,183 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $3,036,422.85. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, 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 2,487 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $58,144,206.45. The trade was a 3.92% decrease in their position. The SEC filing for this sale provides additional information. 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 three months, insiders sold 41,260 shares of company stock valued at $38,859,220. Company insiders own 0.43% of the company’s stock.

Lumentum Price Performance

Shares of LITE opened at $693.24 on Friday. The firm has a market capitalization of $53.93 billion, a PE ratio of 128.38 and a beta of 1.48. The company’s 50-day moving average is $825.72 and its 200-day moving average is $736.71. Lumentum Holdings Inc. has a fifty-two week low of $101.61 and a fifty-two week high of $1,085.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97.

Lumentum (NASDAQ:LITE) last announced its earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping 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%. Lumentum’s revenue was up 90.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Equities analysts forecast that Lumentum Holdings Inc. will post 6.42 EPS for the current year.

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.