KBC Group NV Buys 7,114 Shares of Lumentum Holdings Inc. $LITE

KBC Group NV grew its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 342.8% during the first quarter, Holdings Channel reports. The institutional investor owned 9,189 shares of the technology company’s stock after buying an additional 7,114 shares during the period. KBC Group NV’s holdings in Lumentum were worth $6,458,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Hilton Head Capital Partners LLC purchased a new stake in Lumentum in the 1st quarter worth approximately $25,000. Sachetta LLC lifted its holdings in Lumentum by 118.8% during the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after purchasing an additional 19 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Lumentum during the fourth quarter valued at approximately $28,000. Truvestments Capital LLC boosted its position in shares of Lumentum by 300.0% in the fourth quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock worth $28,000 after purchasing an additional 57 shares during the period. Finally, Triumph Capital Management bought a new position in shares of Lumentum in the fourth quarter worth approximately $30,000. 94.05% of the stock is currently owned by institutional investors.

Insider Activity at Lumentum

In other news, SVP Jae Kim sold 1,422 shares of Lumentum 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 $1,356,516.90. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Lumentum 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 $2,372,473.65. Following the completion of the transaction, the chief financial officer owned 60,951 shares of the company’s stock, valued at approximately $58,144,206.45. This trade represents 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. Insiders sold a total of 41,260 shares of company stock valued at $38,859,220 over the last ninety days. 0.43% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Morgan Stanley increased their target price on Lumentum from $710.00 to $900.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Citigroup restated a “buy” rating on shares of Lumentum in a research note on Thursday, July 16th. TD Cowen cut their price objective on shares of Lumentum from $995.00 to $800.00 and set a “hold” rating for the company in a report on Monday, July 13th. JPMorgan Chase & Co. lifted their price objective on shares of Lumentum from $950.00 to $1,130.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Mizuho set a $1,100.00 target price on shares of Lumentum in a report on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,012.67.

Lumentum Stock Performance

Shares of NASDAQ:LITE opened at $829.70 on Thursday. Lumentum Holdings Inc. has a 52 week low of $99.92 and a 52 week high of $1,085.68. The stock has a market capitalization of $64.55 billion, a P/E ratio of 153.65 and a beta of 1.48. The firm has a fifty day simple moving average of $852.21 and a two-hundred day simple moving average of $722.46. 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 (EPS) for the quarter, beating 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 firm had revenue of $808.40 million for the quarter, compared to analysts’ expectations of $810.21 million. During the same period in the prior year, the company earned $0.57 EPS. The business’s 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 expect that Lumentum Holdings Inc. will post 6.42 earnings per share for the current fiscal year.

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.