Janus Henderson Group PLC Buys 351,676 Shares of Lumentum Holdings Inc. $LITE

Janus Henderson Group PLC grew its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 163.2% during the 1st quarter, Holdings Channel.com reports. The firm owned 567,182 shares of the technology company’s stock after buying an additional 351,676 shares during the quarter. Janus Henderson Group PLC’s holdings in Lumentum were worth $398,590,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in LITE. Advisors Asset Management Inc. increased its position in Lumentum by 36.8% in the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock valued at $59,000 after buying an additional 254 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Lumentum by 109.9% in the first quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company’s stock worth $747,000 after acquiring an additional 6,275 shares in the last quarter. Empowered Funds LLC boosted its holdings in Lumentum by 9.1% in the first quarter. Empowered Funds LLC now owns 8,139 shares of the technology company’s stock worth $507,000 after acquiring an additional 680 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in Lumentum in the second quarter valued at approximately $298,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Lumentum in the second quarter valued at approximately $1,712,000. Institutional investors own 94.05% of the company’s stock.

Lumentum Stock Performance

Shares of LITE opened at $693.24 on Friday. The firm has a market capitalization of $53.93 billion, a P/E ratio of 128.38 and a beta of 1.48. Lumentum Holdings Inc. has a 52 week low of $101.61 and a 52 week high of $1,085.68. The stock has a 50 day moving average price of $825.72 and a two-hundred day moving average price of $736.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14.

Lumentum (NASDAQ:LITE) last posted its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.10. The company had revenue of $808.40 million for the quarter, compared to analyst estimates of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The company’s revenue for the quarter was up 90.1% on a year-over-year basis. During the same quarter last year, the company earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Equities analysts forecast that Lumentum Holdings Inc. will post 6.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LITE. Mizuho set a $1,100.00 target price on Lumentum in a research report on Wednesday, May 6th. UBS Group lifted their price target on shares of Lumentum from $455.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Stifel Nicolaus boosted their price target on shares of Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. BNP Paribas Exane upped their price objective on shares of Lumentum from $1,040.00 to $1,300.00 in a report on Wednesday, May 6th. Finally, 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 research note on Wednesday, June 3rd. Fourteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Lumentum presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,012.67.

Insiders Place Their Bets

In other Lumentum news, insider Vincent Retort sold 3,183 shares of the firm’s stock in a transaction on 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 directly owned 89,563 shares in the company, valued at approximately $85,438,623.85. This trade represents a 3.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 on 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 transaction, the chief financial officer directly owned 60,951 shares in the company, valued at $58,144,206.45. This represents a 3.92% decrease in their ownership of the stock. 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 worth $38,859,220 in the last three months. 0.43% of the stock is owned by corporate 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.