Amanah Holdings Trust Purchases Shares of 135,000 Lumentum Holdings Inc. $LITE

Amanah Holdings Trust purchased a new stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 135,000 shares of the technology company's stock, valued at approximately $49,760,000. Lumentum makes up 7.3% of Amanah Holdings Trust's holdings, making the stock its 6th largest holding. Amanah Holdings Trust owned 0.19% of Lumentum at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LITE. Truvestments Capital LLC boosted its position in shares of Lumentum by 300.0% in the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company's stock worth $28,000 after purchasing an additional 57 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Lumentum during the 4th quarter valued at about $28,000. Triumph Capital Management purchased a new stake in Lumentum in the fourth quarter valued at about $30,000. Harbour Investments Inc. raised its stake in Lumentum by 675.0% in the fourth quarter. Harbour Investments Inc. now owns 93 shares of the technology company's stock valued at $34,000 after buying an additional 81 shares during the last quarter. Finally, Chesapeake Asset Management LLC acquired a new stake in Lumentum in the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Wall Street Analysts Forecast Growth

LITE has been the topic of a number of research analyst reports. Craig Hallum boosted their price target on Lumentum from $900.00 to $1,150.00 in a research note on Wednesday, May 6th. Morgan Stanley increased their price objective on shares of Lumentum from $710.00 to $900.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 6th. Mizuho set a $1,100.00 target price on shares of Lumentum in a research note on Wednesday, May 6th. JPMorgan Chase & Co. boosted their target price on shares of Lumentum from $950.00 to $1,130.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Finally, Barclays upped their price target on shares of Lumentum from $750.00 to $1,000.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,021.95.

Insider Activity at Lumentum

In other Lumentum news, insider Vincent Retort sold 3,183 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 $3,036,422.85. Following the sale, the insider directly owned 89,563 shares of the company's stock, valued at approximately $85,438,623.85. This represents a 3.43% 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. 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, 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 transaction of $3,062,179.50. Following the transaction, the insider directly owned 81,488 shares of the company's stock, valued at approximately $77,735,477.60. This trade represents 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 sold a total of 41,260 shares of company stock valued at $38,859,220 over the last ninety days. Corporate insiders own 0.43% of the company's stock.

Lumentum Price Performance

Shares of NASDAQ LITE opened at $850.00 on Friday. Lumentum Holdings Inc. has a 52 week low of $86.63 and a 52 week high of $1,085.68. The business's 50 day moving average price is $903.86 and its 200 day moving average price is $648.37. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The firm has a market cap of $66.13 billion, a P/E ratio of 157.41 and a beta of 1.47.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.27 by $0.10. The company had revenue of $808.40 million during 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%. Lumentum's revenue for the quarter was up 90.1% compared to the same quarter last year. During the same period last year, the firm posted $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, sell-side analysts expect that Lumentum Holdings Inc. will post 6.4 earnings per share for the current year.

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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