Allspring Global Investments Holdings LLC Purchases 14,841 Shares of Lumentum Holdings Inc. $LITE

Key Points

• Allspring Global Investments increased its Lumentum stake by 12.6% in the third quarter, adding 14,841 shares to hold 132,541 shares. Institutional investors own 94.05% of the stock.
• Lumentum reported quarterly EPS of $4.57, beating the $4.22 consensus estimate; revenue of $1.26 billion was up 136.5% year over year.
• Analysts have a “Moderate Buy” consensus and an average price target of $1,081.61, while a proposed all-stock Marvell acquisition values Lumentum at about $115 billion and remains subject to regulatory approval.

Allspring Global Investments Holdings LLC boosted its position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 12.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 132,541 shares of the technology company's stock after acquiring an additional 14,841 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.15% of Lumentum worth $138,609,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Sachetta LLC boosted its holdings in shares of Lumentum by 118.8% in the 1st quarter. Sachetta LLC now owns 35 shares of the technology company's stock valued at $25,000 after purchasing an additional 19 shares in the last quarter. Burkett Financial Services LLC bought a new position in shares of Lumentum in the 3rd quarter valued at $28,000. Putney Financial Group LLC acquired a new position in shares of Lumentum during the 3rd quarter worth $28,000. Signature Equity Partners LLC raised its holdings in shares of Lumentum by 220.0% during the 3rd quarter. Signature Equity Partners LLC now owns 32 shares of the technology company's stock worth $31,000 after buying an additional 22 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Lumentum during the 2nd quarter worth $40,000. 94.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LITE. Mizuho set a $1,132.00 price objective on Lumentum in a research note on Monday, November 2nd. Rosenblatt Securities lowered their target price on Lumentum from $1,300.00 to $900.00 and set a "buy" rating for the company in a research note on Tuesday, November 3rd. Raymond James Financial raised shares of Lumentum from a "moderate buy" rating to a "strong-buy" rating and set a $1,328.00 target price for the company in a report on Monday, November 2nd. Weiss Ratings downgraded shares of Lumentum from a "hold (c-)" rating to a "sell (d-)" rating in a research note on Wednesday, August 19th. Finally, Zacks Research lowered shares of Lumentum from a "strong-buy" rating to a "hold" rating in a report on Monday, October 12th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,081.61.

Insider Transactions at Lumentum

In other news, insider Vincent Retort sold 38,663 shares of Lumentum stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $852.59, for a total transaction of $32,963,687.17. Following the transaction, the insider owned 78,440 shares in the company, valued at approximately $66,877,159.60. The trade was a 33.02% decrease in their ownership of the stock. The sale was disclosed in a document filed 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. Also, CFO Wajid Ali sold 24,542 shares of the business's stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $1,048.50, for a total transaction of $25,732,287.00. Following the completion of the sale, the chief financial officer directly owned 75,074 shares in the company, valued at approximately $78,715,089. This represents a 24.64% decrease in their position. 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 90 days, insiders sold 94,496 shares of company stock worth $85,978,498. 0.28% of the stock is currently owned by insiders.

Key Stories Impacting Lumentum

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Some commentary sees Lumentum as potentially undervalued after Marvell agreed to acquire it, arguing the deal highlights demand for optical interconnects—a potential bottleneck in AI data centers. Lumentum’s shares also rose alongside a broader recovery in optical stocks. Article: Lumentum Holdings Could Be 90% Undervalued Following The Marvell Deal Article: Optical stocks rally
• Neutral Sentiment: The proposed all-stock Marvell deal values Lumentum at about $115 billion, with Lumentum shareholders set to receive 4.5 Marvell shares per share. That is not a fixed cash offer: its implied value will move with Marvell’s stock. The transaction is expected to take time to close and remains subject to regulatory approval. Article: Marvell Agreed to Pay $1,132 a Share for Lumentum
• Positive Sentiment: A bullish technical view says Lumentum is oversold after a steep decline, while analysts’ earnings-estimate increases could support a recovery. Article: Lumentum is Poised for a Turnaround
• Negative Sentiment: Recent pressure reflects a broader sell-off in AI and optical shares, alongside analyst downgrades and lower price expectations. The sharp recent declines suggest investors remain cautious despite the proposed acquisition and the latest rebound. Article: Lumentum Shares Down After Analyst Downgrade Article: AI optical stocks slide

Lumentum Price Performance

Lumentum stock opened at $538.59 on Monday. The company has a current ratio of 1.61, a quick ratio of 1.27 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $48.85 billion, a PE ratio of -6.84 and a beta of 1.64. Lumentum Holdings Inc. has a 12 month low of $215.35 and a 12 month high of $1,143.00. The stock has a 50-day moving average price of $894.13 and a two-hundred day moving average price of $801.60.

Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings results on Monday, November 2nd. The technology company reported $4.57 earnings per share for the quarter, topping the consensus estimate of $4.22 by $0.35. The company had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.26 billion. Lumentum had a positive return on equity of 28.85% and a negative net margin of 175.82%. The business's quarterly revenue was up 136.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.10 earnings per share. Analysts expect that Lumentum Holdings Inc. will post 19.93 EPS for the current year.

Lumentum Company Profile

Lumentum Holdings Inc develops and manufactures optical and photonic products used in communications networks and industrial applications. Its offerings include optical components, modules and lasers that help transmit and process data across telecommunications and data center networks.

The company also supplies lasers and related technologies for industrial uses, including precision manufacturing and semiconductor production. Its products serve customers in markets around the world.

Lumentum became an independent public company in 2015 through a spin-off from JDSU, now Viavi Solutions.

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