Jefferies Financial Group Inc. Purchases Shares of 985 Lumentum Holdings Inc. $LITE

Jefferies Financial Group Inc. purchased a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 985 shares of the technology company’s stock, valued at approximately $363,000.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Lumentum by 0.6% during the third quarter. Vanguard Group Inc. now owns 7,485,282 shares of the technology company’s stock valued at $1,217,930,000 after acquiring an additional 41,975 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Lumentum by 8,579.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock valued at $254,350,000 after acquiring an additional 1,545,199 shares during the period. Alliancebernstein L.P. boosted its holdings in Lumentum by 4.4% during the third quarter. Alliancebernstein L.P. now owns 1,085,119 shares of the technology company’s stock valued at $176,560,000 after acquiring an additional 45,953 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Lumentum by 707.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company’s stock valued at $366,555,000 after acquiring an additional 871,249 shares during the period. Finally, Holocene Advisors LP bought a new stake in Lumentum during the third quarter valued at about $136,401,000. 94.05% of the stock is currently owned by institutional investors.

Insider Transactions at Lumentum

In related news, Director Brian Lillie sold 11,951 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $981.64, for a total value of $11,731,579.64. Following the completion of the transaction, the director owned 13,959 shares of the company’s stock, valued at $13,702,712.76. This represents a 46.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Wajid Ali sold 2,487 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $2,372,473.65. Following the completion of the transaction, the chief financial officer directly owned 60,951 shares of the company’s stock, valued at $58,144,206.45. This trade represents a 3.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 have sold 35,844 shares of company stock valued at $34,003,107. Corporate insiders own 0.43% of the company’s stock.

Lumentum Stock Down 0.7%

Shares of LITE opened at $854.96 on Friday. Lumentum Holdings Inc. has a 52 week low of $71.04 and a 52 week high of $1,085.68. 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 firm has a market capitalization of $66.52 billion, a P/E ratio of 158.33 and a beta of 1.53. The company has a 50-day simple moving average of $862.40 and a 200-day simple moving average of $583.63.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $810.21 million. During the same quarter in the prior year, the business posted $0.57 earnings per share. The company’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, equities research analysts expect that Lumentum Holdings Inc. will post 6.49 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on LITE shares. Mizuho set a $1,100.00 price objective on shares of Lumentum in a research report on Wednesday, May 6th. Citigroup upped their price objective on shares of Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Susquehanna upped their price objective on shares of Lumentum from $550.00 to $1,100.00 and gave the company a “positive” rating in a research report on Monday, April 20th. Rosenblatt Securities upped their price objective on shares of Lumentum from $900.00 to $1,300.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Craig Hallum upped their price objective on shares of Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. One investment 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,012.43.

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.