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

The Manufacturers Life Insurance Company lessened its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 23.7% during the first quarter, Holdings Channel reports. The fund 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.

Several other hedge funds have also added to or reduced their stakes in the business. Estuary Capital Management LP acquired a new position in shares of Lumentum in the first quarter valued at $37,070,000. Maverick Capital Ltd. bought a new stake in shares of Lumentum during the 1st quarter worth about $1,526,000. Quantinno Capital Management LP boosted its holdings in shares of Lumentum by 19.9% during the 1st quarter. Quantinno Capital Management LP now owns 21,792 shares of the technology company’s stock worth $15,315,000 after buying an additional 3,621 shares during the period. Clough Capital Partners L P grew its stake in Lumentum by 3.0% in the 1st quarter. Clough Capital Partners L P now owns 2,580 shares of the technology company’s stock valued at $1,813,000 after buying an additional 76 shares during the last quarter. Finally, SummitTX Capital L.P. bought a new position in Lumentum in the 1st quarter valued at about $882,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LITE shares. Morgan Stanley raised their price objective on shares of Lumentum from $710.00 to $900.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. TD Cowen lowered their price objective on Lumentum from $995.00 to $800.00 and set a “hold” rating on the stock in a research report on Monday, July 13th. Citic Securities upped their price target on shares of Lumentum from $620.00 to $1,186.00 in a research note on Monday, May 11th. Stifel Nicolaus raised their price target on shares of Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Lumentum in a research report on Friday, July 17th. Fourteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,012.67.

Insider Buying and Selling

In related news, insider Yuen Wupen sold 3,210 shares of Lumentum stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $3,062,179.50. Following the transaction, the insider directly owned 81,488 shares of the company’s stock, valued at $77,735,477.60. This trade represents a 3.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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, Director Isaac Hosojiro Harris sold 4,000 shares of Lumentum stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $860.00, for a total transaction of $3,440,000.00. Following the completion of the transaction, the director directly owned 8,400 shares in the company, valued at $7,224,000. This trade represents a 32.26% 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. In the last ninety days, insiders sold 41,260 shares of company stock worth $38,859,220. 0.43% of the stock is owned by company insiders.

Lumentum Stock Performance

LITE opened at $713.94 on Friday. 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 Holdings Inc. has a 52-week low of $101.61 and a 52-week high of $1,085.68. The firm has a market cap of $55.54 billion, a P/E ratio of 132.21 and a beta of 1.48. The business’s fifty day moving average is $821.07 and its 200-day moving average is $736.55.

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

About Lumentum

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.