The Manufacturers Life Insurance Company Has $27.04 Million Stake in Lumentum Holdings Inc. $LITE

The Manufacturers Life Insurance Company cut its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 23.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,477 shares of the technology company’s stock after selling 11,965 shares during the period. The Manufacturers Life Insurance Company’s holdings in Lumentum were worth $27,040,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in LITE. Hilton Head Capital Partners LLC acquired a new stake in shares of Lumentum in the 1st quarter valued at about $25,000. Sachetta LLC raised its position in Lumentum by 118.8% in the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after buying an additional 19 shares during the last quarter. Wiser Advisor Group LLC lifted its stake in Lumentum by 6,000.0% in the 1st quarter. Wiser Advisor Group LLC now owns 61 shares of the technology company’s stock valued at $43,000 after acquiring an additional 60 shares in the last quarter. SJS Investment Consulting Inc. boosted its position in Lumentum by 687.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 63 shares of the technology company’s stock worth $44,000 after acquiring an additional 55 shares during the last quarter. Finally, Truvestments Capital LLC boosted its position in Lumentum by 300.0% during the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock worth $28,000 after acquiring an additional 57 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Lumentum Trading Up 3.0%

Shares of Lumentum stock opened at $713.94 on Friday. Lumentum Holdings Inc. has a 12-month low of $101.61 and a 12-month high of $1,085.68. The stock has a market cap of $55.54 billion, a P/E ratio of 132.21 and a beta of 1.48. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $821.07 and its 200-day moving average is $736.55.

Lumentum (NASDAQ:LITE) last released its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.10. The business had revenue of $808.40 million during 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 firm’s revenue was up 90.1% on a year-over-year basis. During the same period last year, the business earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Equities research analysts predict that Lumentum Holdings Inc. will post 6.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on LITE shares. Craig Hallum lifted their price objective on shares of Lumentum from $900.00 to $1,150.00 in a report on Wednesday, May 6th. Citigroup restated a “buy” rating on shares of Lumentum in a report on Thursday, July 16th. Zacks Research lowered shares of Lumentum from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. B. Riley Financial reiterated a “buy” rating on shares of Lumentum in a research note on Friday, May 1st. Finally, Northland Securities boosted their price target on shares of Lumentum from $1,000.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Fourteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,012.67.

Insider Transactions at Lumentum

In other news, Director Ian Small sold 4,954 shares of Lumentum stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $868.07, for a total value of $4,300,418.78. Following the completion of the transaction, the director owned 21,008 shares of the company’s stock, valued at $18,236,414.56. This trade represents a 19.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Vincent Retort sold 3,183 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 89,563 shares in the company, valued at $85,438,623.85. This represents a 3.43% 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 quarter, insiders have sold 41,260 shares of company stock valued at $38,859,220. 0.43% of the stock is owned by company insiders.

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.