14,940 Shares in Lumentum Holdings Inc. $LITE Purchased by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management bought a new stake in Lumentum Holdings during the first quarter, purchasing 14,940 shares valued at about $10.5 million.
• Lumentum continues to attract major institutional interest, with hedge funds and asset managers owning 94.05% of the stock and several large investors recently increasing their positions.
• Wall Street sentiment remains positive: analysts have issued multiple buy ratings, and the consensus price target is $1,021.95 versus a recent opening price of $850.00.

BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,940 shares of the technology company's stock, valued at approximately $10,499,000.

Several other large investors have also recently added to or reduced their stakes in LITE. Arrowstreet Capital Limited Partnership lifted its position in Lumentum by 18.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,854,801 shares of the technology company's stock worth $683,661,000 after purchasing an additional 291,591 shares during the period. Geode Capital Management LLC raised its stake in shares of Lumentum by 9.6% in the 4th quarter. Geode Capital Management LLC now owns 1,412,213 shares of the technology company's stock valued at $521,563,000 after buying an additional 123,265 shares in the last quarter. Situational Awareness LP raised its stake in shares of Lumentum by 210.9% in the 4th quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company's stock valued at $478,577,000 after buying an additional 880,800 shares in the last quarter. Norges Bank bought a new position in shares of Lumentum during the 4th quarter worth about $474,495,000. Finally, Value Aligned Research Advisors LLC bought a new position in shares of Lumentum during the 4th quarter worth about $432,062,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Wall Street Analyst Weigh In

LITE has been the topic of a number of analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $1,040.00 target price on shares of Lumentum in a research note on Tuesday, June 9th. B. Riley Financial restated a "buy" rating on shares of Lumentum in a research note on Friday, May 1st. JPMorgan Chase & Co. lifted their price objective on Lumentum from $950.00 to $1,130.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Zacks Research upgraded Lumentum from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 13th. Finally, Barclays increased their target price on Lumentum from $750.00 to $1,000.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,021.95.

Lumentum Stock Performance

Shares of Lumentum stock opened at $850.00 on Monday. Lumentum Holdings Inc. has a 12-month low of $86.63 and a 12-month high of $1,085.68. The stock has a market capitalization of $66.13 billion, a P/E ratio of 157.41 and a beta of 1.47. The company has a 50-day simple moving average of $902.94 and a 200 day simple moving average of $652.12. 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 (NASDAQ:LITE - Get Free Report) last released 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. The firm had revenue of $808.40 million for the quarter, compared to analyst estimates of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The company's revenue for the quarter was up 90.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Research analysts expect that Lumentum Holdings Inc. will post 6.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Isaac Hosojiro Harris sold 4,000 shares of the company's 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 transaction, the director directly owned 8,400 shares in the company, valued at approximately $7,224,000. This represents a 32.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vincent Retort sold 3,183 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $3,036,422.85. Following the sale, the insider directly owned 89,563 shares in the company, valued at $85,438,623.85. This trade represents a 3.43% 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 valued at $38,859,220 over the last three months. Company insiders own 0.43% of the company's stock.

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.

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