3,176 Shares in Lumentum Holdings Inc. $LITE Bought by Maryland State Retirement & Pension System

Key Points

• The Maryland State Retirement & Pension System purchased 3,176 shares of Lumentum Holdings Inc. for about $302,000, highlighting continued institutional interest in the company.
• Analysts maintain a generally positive outlook on Lumentum, with multiple firms raising price targets, with a consensus target price of $136.57 and several "buy" ratings issued.
• Lumentum reported significant revenue growth in its latest earnings, posting $480.70 million for the quarter, a 55.9% increase year-over-year, and exceeding analysts' expectations.

Maryland State Retirement & Pension System bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,176 shares of the technology company's stock, valued at approximately $302,000.

A number of other hedge funds have also bought and sold shares of the company. Louisiana State Employees Retirement System raised its stake in Lumentum by 0.5% during the second quarter. Louisiana State Employees Retirement System now owns 19,500 shares of the technology company's stock worth $1,854,000 after buying an additional 100 shares during the last quarter. KLP Kapitalforvaltning AS grew its holdings in Lumentum by 7.9% in the second quarter. KLP Kapitalforvaltning AS now owns 15,071 shares of the technology company's stock worth $1,433,000 after purchasing an additional 1,100 shares during the period. Duncan Williams Asset Management LLC acquired a new stake in Lumentum in the second quarter worth $319,000. WT Asset Management Ltd acquired a new stake in Lumentum in the second quarter worth $25,001,000. Finally, Lecap Asset Management Ltd. grew its holdings in Lumentum by 36.4% in the second quarter. Lecap Asset Management Ltd. now owns 10,825 shares of the technology company's stock worth $1,029,000 after purchasing an additional 2,890 shares during the period. Institutional investors own 94.05% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Wolfe Research assumed coverage on shares of Lumentum in a report on Tuesday, August 12th. They issued an "outperform" rating for the company. Needham & Company LLC restated a "buy" rating and issued a $145.00 price target (up from $135.00) on shares of Lumentum in a report on Wednesday, August 13th. Citigroup assumed coverage on shares of Lumentum in a report on Friday, August 29th. They issued a "buy" rating and a $165.00 price target for the company. B. Riley raised their price target on shares of Lumentum from $73.00 to $83.00 and gave the stock a "neutral" rating in a report on Wednesday, August 13th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Lumentum from $123.00 to $145.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $136.57.

Lumentum Stock Down 2.4%

Lumentum stock opened at $156.78 on Wednesday. Lumentum Holdings Inc. has a fifty-two week low of $45.65 and a fifty-two week high of $178.49. The stock has a market cap of $11.12 billion, a PE ratio of 681.65 and a beta of 1.42. The firm's 50-day simple moving average is $144.44 and its 200 day simple moving average is $101.43. The company has a debt-to-equity ratio of 2.26, a quick ratio of 3.18 and a current ratio of 4.37.

Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The technology company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.09. Lumentum had a net margin of 1.57% and a negative return on equity of 3.02%. The business had revenue of $480.70 million for the quarter, compared to analysts' expectations of $465.27 million. During the same period in the previous year, the company earned $0.06 earnings per share. The firm's revenue for the quarter was up 55.9% compared to the same quarter last year. Lumentum has set its Q1 2026 guidance at 0.950-1.100 EPS. Research analysts predict that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling at Lumentum

In related news, insider Vincent Retort sold 22,719 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $110.00, for a total transaction of $2,499,090.00. Following the transaction, the insider directly owned 121,747 shares in the company, valued at approximately $13,392,170. The trade was a 15.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Julia Suzanne Johnson sold 1,250 shares of Lumentum stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $119.06, for a total transaction of $148,825.00. Following the completion of the sale, the director directly owned 22,037 shares in the company, valued at approximately $2,623,725.22. This represents a 5.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,687 shares of company stock valued at $4,759,552 in the last quarter. 0.43% of the stock is owned by company insiders.

Lumentum Company Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.

Want to see what other hedge funds are holding LITE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lumentum Holdings Inc. (NASDAQ:LITE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.