New York Life Investment Management LLC Makes New Investment in Lumentum Holdings Inc. $LITE

New York Life Investment Management LLC acquired a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 6,875 shares of the technology company’s stock, valued at approximately $2,534,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its holdings in shares of Lumentum by 363.9% during the third quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock worth $27,000 after purchasing an additional 131 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Lumentum in the fourth quarter valued at approximately $28,000. Danske Bank A S acquired a new stake in Lumentum during the third quarter worth approximately $33,000. Chesapeake Asset Management LLC acquired a new stake in Lumentum during the fourth quarter worth approximately $37,000. Finally, BOCHK Asset Management Ltd bought a new position in Lumentum during the 4th quarter worth $37,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. B. Riley Financial reaffirmed a “buy” rating on shares of Lumentum in a report on Friday, May 1st. Jefferies Financial Group restated a “buy” rating and issued a $1,200.00 price target on shares of Lumentum in a research report on Wednesday, May 6th. Mizuho set a $1,100.00 price target on Lumentum in a research note on Wednesday, May 6th. Rosenblatt Securities upped their price objective on shares of Lumentum from $900.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Susquehanna increased their price objective on shares of Lumentum from $550.00 to $1,100.00 and gave the stock a “positive” rating in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,012.43.

Insider Transactions at Lumentum

In other news, SVP Jae Kim sold 1,933 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $950.99, for a total value of $1,838,263.67. Following the completion of the transaction, the senior vice president owned 35,114 shares of the company’s stock, valued at approximately $33,393,062.86. This represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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. Also, CFO Wajid Ali sold 5,302 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $691.13, for a total transaction of $3,664,371.26. Following the completion of the sale, the chief financial officer owned 66,287 shares in the company, valued at approximately $45,812,934.31. The trade was a 7.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 25,890 shares of company stock valued at $23,539,466. 0.43% of the stock is owned by company insiders.

Lumentum Trading Down 8.8%

Shares of LITE stock opened at $884.98 on Tuesday. Lumentum Holdings Inc. has a fifty-two week low of $71.04 and a fifty-two week high of $1,085.68. The stock’s fifty day moving average price is $814.64 and its two-hundred day moving average price is $542.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14. The company has a market cap of $68.85 billion, a PE ratio of 163.89 and a beta of 1.53.

Lumentum (NASDAQ:LITE) last announced 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 business had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.Lumentum’s revenue for the quarter was up 90.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Equities analysts predict that Lumentum Holdings Inc. will post 6.49 EPS for the current fiscal year.

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.