Arizona State Retirement System Purchases 1,206 Shares of Lumentum Holdings Inc. $LITE

Key Points

• Institutional ownership increased: Arizona State Retirement System raised its Lumentum stake by 6.3% to 20,471 shares, while several other funds also increased holdings. Institutions and hedge funds now own 94.05% of the stock.
• Strong quarterly performance: Lumentum reported quarterly EPS of $3.23, beating estimates by $0.26, while revenue rose 109.3% year over year to $1.01 billion. The company issued first-quarter fiscal 2027 EPS guidance of $4.05 to $4.35.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $1,053.83, although insiders have sold 65,147 shares worth about $55.8 million over the past 90 days.

Arizona State Retirement System boosted its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 6.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,471 shares of the technology company's stock after purchasing an additional 1,206 shares during the quarter. Arizona State Retirement System's holdings in Lumentum were worth $17,565,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of LITE. Waverly Advisors LLC grew its holdings in shares of Lumentum by 56.9% in the 2nd quarter. Waverly Advisors LLC now owns 1,161 shares of the technology company's stock valued at $996,000 after buying an additional 421 shares during the period. Nykredit A S acquired a new position in shares of Lumentum in the 2nd quarter valued at approximately $44,637,000. Parkside Financial Bank & Trust grew its position in shares of Lumentum by 169.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 205 shares of the technology company's stock valued at $176,000 after purchasing an additional 129 shares during the period. Corient Private Wealth LP increased its stake in Lumentum by 108.4% during the 2nd quarter. Corient Private Wealth LP now owns 10,318 shares of the technology company's stock worth $8,853,000 after purchasing an additional 5,368 shares in the last quarter. Finally, Amundi increased its stake in Lumentum by 188.7% during the 2nd quarter. Amundi now owns 658,427 shares of the technology company's stock worth $564,970,000 after purchasing an additional 430,355 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lumentum

In related news, SVP Jae Kim sold 12,000 shares of the firm's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $852.58, for a total transaction of $10,230,960.00. Following the transaction, the senior vice president directly owned 37,804 shares of the company's stock, valued at approximately $32,230,934.32. This trade represents a 24.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Hurlston sold 548 shares of the firm's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $958.66, for a total transaction of $525,345.68. Following the transaction, the chief executive officer directly owned 186,951 shares in the company, valued at $179,222,445.66. This represents a 0.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 65,147 shares of company stock valued at $55,812,856. 0.43% of the stock is currently owned by insiders.

Lumentum Stock Up 11.0%

Shares of LITE opened at $978.53 on Wednesday. The firm has a market cap of $87.77 billion, a P/E ratio of -11.90 and a beta of 1.53. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.40 and a current ratio of 1.68. Lumentum Holdings Inc. has a 52 week low of $144.52 and a 52 week high of $1,085.68. The firm's 50-day simple moving average is $817.62 and its 200 day simple moving average is $822.21.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The technology company reported $3.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.97 by $0.26. The company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $987.70 million. Lumentum had a positive return on equity of 26.34% and a negative net margin of 230.15%.The business's revenue was up 109.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.88 earnings per share. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. On average, analysts forecast that Lumentum Holdings Inc. will post 19.78 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on LITE shares. UBS Group set a $820.00 price target on shares of Lumentum in a research note on Wednesday, August 12th. Mizuho upped their target price on shares of Lumentum from $1,100.00 to $1,140.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 12th. Northland Securities increased their target price on Lumentum from $1,000.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Wednesday, June 3rd. Citigroup reissued a "buy" rating on shares of Lumentum in a research note on Wednesday, August 12th. Finally, Wolfe Research restated an "outperform" rating on shares of Lumentum in a report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,053.83.

Lumentum Company Profile

Lumentum Holdings Inc NASDAQ: LITE designs and manufactures optical and photonic products used to transmit, process and control light. Its portfolio includes optical components, modules, subsystems, lasers and photonic integrated circuits that support communications networks, data centers, cloud infrastructure and industrial applications.

The company also supplies technologies for consumer electronics and 3D sensing, including laser-based products used in applications such as depth sensing and facial recognition.

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