Amundi Has $160.28 Million Stake in Lumentum Holdings Inc. $LITE

Key Points

• Amundi cut its Lumentum stake by 80.2% in the first quarter, selling 924,816 shares and retaining 228,072 shares valued at approximately $160.28 million. Institutional investors collectively own 94.05% of the company.
• Lumentum insiders sold 41,260 shares worth about $38.86 million over the past three months, including sales by two directors conducted under pre-arranged Rule 10b5-1 plans.
• Analysts maintain a “Moderate Buy” consensus, with 14 Buy ratings and seven Holds and an average price target of $1,012.67. The company recently beat quarterly EPS estimates, while revenue rose 90.1% year over year to $808.4 million.

Amundi reduced its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 80.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 228,072 shares of the technology company's stock after selling 924,816 shares during the period. Amundi owned 0.29% of Lumentum worth $160,280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its holdings in shares of Lumentum by 270.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 415 shares of the technology company's stock valued at $292,000 after acquiring an additional 303 shares during the last quarter. California State Teachers Retirement System lifted its holdings in Lumentum by 21.9% in the 1st quarter. California State Teachers Retirement System now owns 82,030 shares of the technology company's stock worth $57,647,000 after purchasing an additional 14,737 shares during the last quarter. Regal Partners Ltd acquired a new stake in Lumentum in the 1st quarter worth approximately $1,415,000. Empowered Funds LLC boosted its position in Lumentum by 21.5% during the first quarter. Empowered Funds LLC now owns 5,075 shares of the technology company's stock worth $3,567,000 after purchasing an additional 899 shares during the period. Finally, FACT Capital LP bought a new stake in Lumentum during the first quarter worth approximately $1,316,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Insider Buying and Selling at Lumentum

In related news, Director Brian Lillie sold 11,951 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $981.64, for a total transaction of $11,731,579.64. Following the transaction, the director owned 13,959 shares of the company's stock, valued at approximately $13,702,712.76. The trade was a 46.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Isaac Hosojiro Harris sold 4,000 shares of the company's stock in a transaction 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 owned 8,400 shares of the company's stock, valued at approximately $7,224,000. The trade was a 32.26% 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. Insiders have sold a total of 41,260 shares of company stock valued at $38,859,220 in the last three months. 0.43% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LITE. JPMorgan Chase & Co. lifted their price target on shares of Lumentum from $950.00 to $1,130.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. BNP Paribas Exane upped their price objective on shares of Lumentum from $1,040.00 to $1,300.00 in a report on Wednesday, May 6th. TD Cowen lowered their target price on shares of Lumentum from $995.00 to $800.00 and set a "hold" rating on the stock in a research note on Monday, July 13th. Raymond James Financial reiterated an "outperform" rating and issued a $1,014.00 target price on shares of Lumentum in a research note on Wednesday, May 6th. Finally, Stifel Nicolaus lifted their target price 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 analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Lumentum currently has an average rating of "Moderate Buy" and an average target price of $1,012.67.

Lumentum Stock Performance

LITE opened at $713.94 on Friday. 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 stock's 50 day moving average price is $821.07 and its two-hundred day moving average price is $736.55. The firm has a market capitalization of $55.54 billion, a P/E ratio of 132.21 and a beta of 1.48. Lumentum Holdings Inc. has a 12-month low of $101.61 and a 12-month high of $1,085.68.

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