LGT Fund Management Co Ltd. Invests $14.33 Million in Lumentum Holdings Inc. $LITE

LGT Fund Management Co Ltd. purchased a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 20,387 shares of the technology company’s stock, valued at approximately $14,327,000.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in Lumentum in the 1st quarter valued at about $62,000. Associated Banc Corp acquired a new stake in Lumentum during the first quarter worth approximately $214,000. Arlington Capital Management Inc. acquired a new stake in Lumentum during the first quarter worth approximately $209,000. Diversify Wealth Management LLC bought a new stake in shares of Lumentum during the first quarter worth approximately $288,000. Finally, 180 Wealth Advisors LLC boosted its holdings in shares of Lumentum by 2.9% during the first quarter. 180 Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock worth $1,092,000 after acquiring an additional 44 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

LITE has been the topic of several research reports. Citic Securities upped their target price on Lumentum from $620.00 to $1,186.00 in a research report on Monday, May 11th. TD Cowen boosted their price target on Lumentum from $875.00 to $995.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Loop Capital upped their price objective on Lumentum from $900.00 to $1,400.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Susquehanna increased their price objective on Lumentum from $550.00 to $1,100.00 and gave the stock a “positive” rating in a research report on Monday, April 20th. Finally, JPMorgan Chase & Co. lifted their target price on Lumentum from $950.00 to $1,130.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Fourteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.95.

Lumentum Price Performance

Shares of NASDAQ LITE traded up $16.24 during midday trading on Friday, reaching $802.01. The company’s stock had a trading volume of 3,668,382 shares, compared to its average volume of 4,709,263. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14. Lumentum Holdings Inc. has a fifty-two week low of $90.98 and a fifty-two week high of $1,085.68. The business’s 50 day moving average price is $882.31 and its two-hundred day moving average price is $698.09. The company has a market cap of $62.40 billion, a P/E ratio of 148.52 and a beta of 1.48.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The business had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. During the same quarter in the prior year, the business posted $0.57 earnings per share. The firm’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. On average, analysts forecast that Lumentum Holdings Inc. will post 6.4 EPS for the current fiscal year.

Insider Activity

In other news, Director Ian Small sold 4,954 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the completion of the sale, the director owned 21,008 shares of the company’s stock, valued at approximately $18,236,414.56. This represents a 19.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jae Kim sold 1,422 shares of Lumentum stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $1,356,516.90. Following the completion of the transaction, the senior vice president directly owned 32,333 shares in the company, valued at $30,844,065.35. This trade represents a 4.21% decrease in their ownership of the stock. 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 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.