Candriam S.C.A. Takes Position in Lumentum Holdings Inc. $LITE

Key Points

• Candriam S.C.A. initiated a new position in Lumentum Holdings, buying 5,037 shares worth about $3.54 million in the first quarter.
• Institutional ownership remains very high, with 94.05% of Lumentum’s stock held by hedge funds and other institutional investors, while insiders have also been active sellers over the past three months.
• Analysts remain broadly constructive: the stock carries a Moderate Buy consensus, with 14 Buy ratings and an average price target of $1,012.67, even after recent target-price increases from several firms.

Candriam S.C.A. bought a new position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,037 shares of the technology company's stock, valued at approximately $3,540,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Hilton Head Capital Partners LLC bought a new stake in shares of Lumentum in the first quarter worth $25,000. Abel Hall LLC lifted its holdings in Lumentum by 5.5% in the first quarter. Abel Hall LLC now owns 693 shares of the technology company's stock valued at $487,000 after acquiring an additional 36 shares during the period. Parallel Advisors LLC boosted its position in Lumentum by 16.0% in the fourth quarter. Parallel Advisors LLC now owns 326 shares of the technology company's stock worth $120,000 after purchasing an additional 45 shares during the last quarter. Allworth Financial LP boosted its position in Lumentum by 6.4% in the third quarter. Allworth Financial LP now owns 784 shares of the technology company's stock worth $128,000 after purchasing an additional 47 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Lumentum by 5.2% during the 4th quarter. UMB Bank n.a. now owns 968 shares of the technology company's stock valued at $357,000 after purchasing an additional 48 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Jae Kim sold 1,422 shares of the firm's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $1,356,516.90. Following the completion of the sale, the senior vice president directly owned 32,333 shares in the company, valued at $30,844,065.35. This trade represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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, Director Isaac Hosojiro Harris sold 1,416 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total transaction of $1,416,113.28. Following the completion of the sale, the director owned 6,984 shares of the company's stock, valued at $6,984,558.72. This trade represents a 16.86% 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. Over the last three months, insiders sold 41,260 shares of company stock worth $38,859,220. 0.43% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Citic Securities upped their target price on shares of Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. Susquehanna lifted their price target on shares of Lumentum from $550.00 to $1,100.00 and gave the stock a "positive" rating in a research note on Monday, April 20th. BNP Paribas Exane boosted their price objective on shares of Lumentum from $1,040.00 to $1,300.00 in a research report on Wednesday, May 6th. Morgan Stanley boosted 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. Finally, Mizuho set a $1,100.00 price objective on Lumentum in a research note on Wednesday, May 6th. Fourteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,012.67.

Lumentum Trading Down 4.2%

Shares of LITE opened at $768.15 on Tuesday. The firm has a market cap of $59.76 billion, a P/E ratio of 142.25 and a beta of 1.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. Lumentum Holdings Inc. has a 1 year low of $90.98 and a 1 year high of $1,085.68. The company has a 50 day simple moving average of $879.63 and a two-hundred day simple moving average of $702.94.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its 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. The company had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The firm's revenue for the quarter was up 90.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, equities analysts expect that Lumentum Holdings Inc. will post 6.4 earnings per share for the current fiscal 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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