Allspring Global Investments Holdings LLC Makes New Investment in Lumentum Holdings Inc. $LITE

Allspring Global Investments Holdings LLC purchased a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 22,370 shares of the technology company's stock, valued at approximately $17,105,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership grew its holdings in shares of Lumentum by 18.7% during 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 in the last quarter. Geode Capital Management LLC lifted its holdings 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 worth $521,563,000 after acquiring an additional 123,265 shares during the last quarter. Situational Awareness LP boosted 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 purchasing an additional 880,800 shares in the last quarter. Norges Bank purchased a new stake in shares of Lumentum in the 4th quarter valued at $474,495,000. Finally, Value Aligned Research Advisors LLC bought a new position in shares of Lumentum during the 4th quarter valued at $432,062,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Lumentum Trading Up 9.4%

LITE opened at $837.56 on Wednesday. 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 52 week low of $97.55 and a 52 week high of $1,085.68. The stock has a market cap of $65.16 billion, a PE ratio of 155.10 and a beta of 1.48. The business has a 50 day moving average of $856.21 and a 200-day moving average of $719.22.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.10. The company had revenue of $808.40 million for the quarter, compared to analysts' expectations of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The firm's revenue for the quarter was up 90.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Equities research analysts predict that Lumentum Holdings Inc. will post 6.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on LITE shares. Craig Hallum upped their price target on shares of Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. Zacks Research lowered Lumentum from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. Citic Securities upped their price target on shares of Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. Northland Securities increased their price target on shares of Lumentum from $1,000.00 to $1,200.00 and gave the company an "outperform" rating in a research report on Wednesday, June 3rd. Finally, 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 report on Tuesday, May 5th. Fourteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,012.67.

Insider Buying and Selling at Lumentum

In other news, Director Isaac Hosojiro Harris sold 4,000 shares of the company's stock in a transaction on Friday, May 29th. The stock was 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 of the company's stock, valued at $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 SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 3,210 shares of the company's stock in a transaction 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 in the company, valued at approximately $77,735,477.60. The trade was a 3.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 have sold 41,260 shares of company stock valued at $38,859,220 in the last ninety days. Corporate insiders own 0.43% of the company's stock.

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.

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