20,387 Shares in Lumentum Holdings Inc. $LITE Acquired by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. acquired a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 20,387 shares of the technology company’s stock, valued at approximately $14,327,000.

A number of other hedge funds have also recently added to or reduced their stakes in LITE. International Assets Investment Management LLC bought a new stake in shares of Lumentum during the first quarter worth $62,000. Associated Banc Corp acquired a new stake in shares of Lumentum during the 1st quarter valued at $214,000. Arlington Capital Management Inc. acquired a new stake in shares of Lumentum during the 1st quarter valued at $209,000. Diversify Wealth Management LLC bought a new stake in Lumentum during the 1st quarter worth $288,000. Finally, 180 Wealth Advisors LLC increased its holdings in Lumentum by 2.9% in the 1st quarter. 180 Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock worth $1,092,000 after purchasing an additional 44 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Activity

In other news, Director Brian Lillie sold 11,951 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $981.64, for a total transaction of $11,731,579.64. Following the completion of the sale, the director directly owned 13,959 shares in the company, valued at $13,702,712.76. This represents a 46.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian Small sold 4,954 shares of Lumentum stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the transaction, the director directly owned 21,008 shares of the company’s stock, valued at $18,236,414.56. This represents a 19.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 41,260 shares of company stock worth $38,859,220. 0.43% of the stock is owned by insiders.

Lumentum Trading Up 2.1%

Shares of NASDAQ LITE traded up $16.24 during trading on Friday, reaching $802.01. The company had a trading volume of 3,668,382 shares, compared to its average volume of 4,709,263. The stock has a market cap of $62.40 billion, a P/E ratio of 148.52 and a beta of 1.48. The company’s fifty day moving average price is $882.31 and its 200-day moving average price is $698.09. 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 Holdings Inc. has a 12 month low of $90.98 and a 12 month high of $1,085.68.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data 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. The company 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%.The firm’s revenue was up 90.1% compared to the same quarter last year. During the same period last year, the company earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, research analysts expect that Lumentum Holdings Inc. will post 6.4 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on LITE. Morgan Stanley increased their target price on Lumentum from $710.00 to $900.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Zacks Research downgraded Lumentum from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Northland Securities raised their price objective on shares of Lumentum from $1,000.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Barclays lifted their target price on shares of Lumentum from $750.00 to $1,000.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Lumentum in a report on Tuesday, April 21st. Fourteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,021.95.

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.