Caitong International Asset Management Co. Ltd Buys 8,400 Shares of Lumentum Holdings Inc. $LITE

Key Points

• Caitong International Asset Management dramatically increased its Lumentum stake in the fourth quarter, buying 8,400 additional shares to bring its total to 8,418 shares valued at about $3.1 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 94.05% of Lumentum’s stock; several firms added or started new positions during the quarter.
• Analysts remain broadly positive on Lumentum, with a consensus rating of “Moderate Buy” and an average price target of $1,021.95, while the company also beat quarterly EPS estimates and raised guidance.

Caitong International Asset Management Co. Ltd lifted its stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 46,666.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,418 shares of the technology company's stock after buying an additional 8,400 shares during the period. Lumentum makes up approximately 0.8% of Caitong International Asset Management Co. Ltd's holdings, making the stock its 24th largest holding. Caitong International Asset Management Co. Ltd's holdings in Lumentum were worth $3,103,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Reflection Asset Management bought a new stake in Lumentum in the fourth quarter valued at approximately $59,000. MidFirst Bank bought a new position in shares of Lumentum in the fourth quarter worth approximately $84,000. Pacer Advisors Inc. grew its holdings in shares of Lumentum by 33.1% in the fourth quarter. Pacer Advisors Inc. now owns 12,365 shares of the technology company's stock worth $4,558,000 after purchasing an additional 3,074 shares during the last quarter. Amanah Holdings Trust purchased a new position in shares of Lumentum in the fourth quarter worth $49,760,000. Finally, Virtu Financial LLC bought a new stake in Lumentum during the 4th quarter valued at $4,258,000. Institutional investors own 94.05% of the company's stock.

Analyst Upgrades and Downgrades

LITE has been the subject of several analyst reports. Needham & Company LLC reissued a "buy" rating and set a $1,040.00 price target on shares of Lumentum in a research report on Tuesday, June 9th. B. Riley Financial reaffirmed a "buy" rating on shares of Lumentum in a research note on Friday, May 1st. Mizuho set a $1,100.00 target price on shares of Lumentum in a report on Wednesday, May 6th. TD Cowen raised their target price on Lumentum from $875.00 to $995.00 and gave the stock a "hold" rating in a research note on Wednesday, May 6th. Finally, Jefferies Financial Group restated a "buy" rating and set a $1,200.00 price target on shares of Lumentum in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Lumentum currently has a consensus rating of "Moderate Buy" and an average target price of $1,021.95.

Insider Buying and Selling

In other Lumentum news, Director Brian Lillie sold 11,951 shares of the company's stock in a transaction that occurred on Monday, May 11th. The stock was 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 in the company, valued at approximately $13,702,712.76. This represents a 46.13% decrease in their position. The transaction was disclosed in a legal filing 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, insider Vincent Retort sold 3,183 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $3,036,422.85. Following the completion of the transaction, the insider directly owned 89,563 shares of the company's stock, valued at $85,438,623.85. This represents a 3.43% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 41,260 shares of company stock valued at $38,859,220 over the last quarter. 0.43% of the stock is currently owned by insiders.

Lumentum Price Performance

Shares of Lumentum stock opened at $850.00 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. The company's fifty day simple moving average is $902.94 and its two-hundred day simple moving average is $649.78. The company has a market cap of $66.13 billion, a P/E ratio of 157.41 and a beta of 1.47. Lumentum Holdings Inc. has a 12-month low of $86.63 and a 12-month high of $1,085.68.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.27 by $0.10. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The business had revenue of $808.40 million during the quarter, compared to analyst estimates of $810.21 million. During the same period in the prior year, the business earned $0.57 EPS. The company's revenue for the quarter was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Research analysts anticipate that Lumentum Holdings Inc. will post 6.4 EPS for the current year.

About Lumentum

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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