Louisiana State Employees Retirement System Invests $2.53 Million in Lumentum Holdings Inc. $LITE

Louisiana State Employees Retirement System acquired a new position in Lumentum Holdings Inc. (NASDAQ:LITE) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,600 shares of the technology company’s stock, valued at approximately $2,530,000.

Several other large investors also recently added to or reduced their stakes in LITE. Hilton Head Capital Partners LLC purchased a new stake in Lumentum during the first quarter valued at approximately $25,000. EverSource Wealth Advisors LLC boosted its stake in shares of Lumentum by 363.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock worth $27,000 after acquiring an additional 131 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Lumentum during the 4th quarter worth $28,000. Truvestments Capital LLC grew its position in shares of Lumentum by 300.0% during the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after acquiring an additional 57 shares during the period. Finally, Triumph Capital Management bought a new stake in shares of Lumentum during the 4th quarter valued at $30,000. 94.05% of the stock is currently owned by institutional investors.

Lumentum Stock Up 4.2%

Shares of LITE stock opened at $851.40 on Tuesday. The company has a market capitalization of $66.24 billion, a price-to-earnings ratio of 157.67 and a beta of 1.47. Lumentum Holdings Inc. has a one year low of $88.37 and a one year high of $1,085.68. The company’s fifty day moving average price is $900.23 and its 200-day moving average price is $674.14. 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 issued its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.10. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The company had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. During the same quarter in the prior year, the firm posted $0.57 EPS. Lumentum’s quarterly revenue was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Sell-side analysts expect that Lumentum Holdings Inc. will post 6.4 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Isaac Hosojiro Harris sold 4,000 shares of Lumentum stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $860.00, for a total transaction of $3,440,000.00. Following the sale, the director owned 8,400 shares of the company’s stock, valued at approximately $7,224,000. This trade represents a 32.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 3,210 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 value of $3,062,179.50. Following the completion of the transaction, the insider directly owned 81,488 shares in the company, valued at approximately $77,735,477.60. This represents a 3.79% decrease in their ownership of the stock. 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. Insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Citigroup raised their target price on Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. TD Cowen boosted their price target on Lumentum from $875.00 to $995.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. Mizuho set a $1,100.00 price target on Lumentum in a research report on Wednesday, May 6th. Craig Hallum raised their price objective on Lumentum from $900.00 to $1,150.00 in a research note 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 note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,021.95.

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.