Principal Financial Group Inc. Sells 33,883 Shares of Lumentum Holdings Inc. $LITE

Principal Financial Group Inc. trimmed its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 22.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 118,545 shares of the technology company’s stock after selling 33,883 shares during the period. Principal Financial Group Inc. owned approximately 0.17% of Lumentum worth $83,309,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of LITE. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Lumentum by 18.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,854,801 shares of the technology company’s stock valued at $683,661,000 after purchasing an additional 291,591 shares in the last quarter. Geode Capital Management LLC increased its holdings in Lumentum by 9.6% in the 4th quarter. Geode Capital Management LLC now owns 1,412,213 shares of the technology company’s stock worth $521,563,000 after buying an additional 123,265 shares in the last quarter. Situational Awareness LP raised its position in Lumentum by 210.9% in 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. Norges Bank purchased a new position in Lumentum in the 4th quarter worth about $474,495,000. Finally, Value Aligned Research Advisors LLC purchased a new position in Lumentum in the 4th quarter worth about $432,062,000. Institutional investors own 94.05% of the company’s stock.

Trending Headlines about Lumentum

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Zacks upgraded Lumentum to Rank #2 (Buy), citing improved earnings estimates and a more constructive outlook for the company’s profit growth. Lumentum (LITE) Is Up 6.3% After Zacks Upgrade on AI Data Center Optics Demand Shift
• Positive Sentiment: Multiple reports highlighted Lumentum’s growing role in AI data center optics, which is supporting investor optimism that demand for optical components could remain strong as AI infrastructure spending expands. LITE vs. APLD: Which AI Infrastructure Stock Offers Better Growth?
• Neutral Sentiment: UBS reportedly reaffirmed a Hold rating, which does not add a strong bullish catalyst but suggests analysts remain divided on the stock’s near-term upside. UBS Reaffirms Their Hold Rating on Lumentum Holdings (LITE)
• Negative Sentiment: One recent note said the broader AI optics trade cooled, with high-beta names like Lumentum seeing some profit-taking as investors rotated away from the group. Applied Optoelectronics Falls 12%, Coherent and Lumentum Slide as AI Optics Trade Cools

Insider Buying and Selling at Lumentum

In other news, Director Isaac Hosojiro Harris sold 1,416 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $1,000.08, for a total transaction of $1,416,113.28. Following the completion of the sale, the director owned 6,984 shares of the company’s stock, valued at $6,984,558.72. The trade was a 16.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jae Kim sold 1,422 shares of the company’s stock in a transaction on 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 completion of the sale, the senior vice president owned 32,333 shares of the company’s stock, valued at $30,844,065.35. This trade represents a 4.21% 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. Insiders sold 41,260 shares of company stock valued at $38,859,220 in the last quarter. Insiders own 0.43% of the company’s stock.

Lumentum Trading Down 6.1%

Lumentum stock opened at $706.23 on Friday. The business has a 50-day simple moving average of $868.47 and a two-hundred day simple moving average of $710.60. The company has a market cap of $54.94 billion, a P/E ratio of 130.78 and a beta of 1.48. Lumentum Holdings Inc. has a 52-week low of $97.55 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 issued its quarterly earnings data 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. The firm had revenue of $808.40 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Analysts predict that Lumentum Holdings Inc. will post 6.4 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LITE. Jefferies Financial Group reaffirmed a “buy” rating and set a $1,200.00 price target on shares of Lumentum in a report on Wednesday, May 6th. Needham & Company LLC restated a “buy” rating and set a $1,040.00 price objective on shares of Lumentum in a research report on Tuesday, June 9th. Citic Securities raised their target price on shares of Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. Craig Hallum raised their target price on shares of Lumentum from $900.00 to $1,150.00 in a report on Wednesday, May 6th. Finally, Morgan Stanley lifted their target price on shares of Lumentum from $710.00 to $900.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Fourteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Lumentum has a consensus rating of “Moderate Buy” and an average target price of $1,012.67.

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.