Citizens Financial Group Inc. RI Invests $1.20 Million in Lumentum Holdings Inc. $LITE

Key Points

• Citizens Financial Group acquired a new $1.20 million stake in Lumentum during the second quarter, buying 1,400 shares. Institutional investors collectively own approximately 94.05% of the company.
• Lumentum reported quarterly EPS of $3.23, exceeding the $2.97 analyst estimate, while revenue rose 109.3% year over year to $1.01 billion. Analysts maintain a “Moderate Buy” consensus, with an average price target of $1,044.67.
• Shares recently fell 9.9% amid broader weakness in AI-related optics stocks, despite the company’s strong AI data-center growth outlook. Insiders have also sold 14,919 shares worth roughly $13.3 million over the past 90 days, primarily through pre-arranged trading plans.

Citizens Financial Group Inc. RI acquired a new stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,400 shares of the technology company's stock, valued at approximately $1,201,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. WT Asset Management Ltd purchased a new position in Lumentum during the 2nd quarter valued at about $494,688,000. Focused Alpha LLC purchased a new stake in Lumentum during the second quarter worth about $372,000. Pallas Capital Advisors LLC acquired a new stake in shares of Lumentum during the second quarter worth about $435,000. Deutsche Bank AG acquired a new stake in shares of Lumentum during the second quarter worth about $219,556,000. Finally, Perigon Wealth Management LLC acquired a new stake in shares of Lumentum during the second quarter worth about $1,005,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Insiders Place Their Bets

In other news, Director Isaac Hosojiro Harris sold 4,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director owned 8,400 shares in the company, valued at approximately $7,224,000. The trade was a 32.26% decrease in their position. The sale was disclosed in a filing 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. Also, insider Vincent Retort sold 3,183 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $909.43, for a total transaction of $2,894,715.69. Following the sale, the insider owned 114,495 shares of the company's stock, valued at $104,125,187.85. This represents a 2.70% decrease in their position. 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. Over the last ninety days, insiders sold 14,919 shares of company stock valued at $13,293,529. 0.43% of the stock is owned by company insiders.

Analyst Ratings Changes

LITE has been the topic of a number of research reports. BNP Paribas Exane increased their target price on shares of Lumentum from $1,040.00 to $1,300.00 in a report on Wednesday, May 6th. JPMorgan Chase & Co. upped their price objective on Lumentum from $1,165.00 to $1,280.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 12th. Mizuho lifted their target price on Lumentum from $1,100.00 to $1,140.00 and gave the company an "outperform" rating in a report on Wednesday, August 12th. Needham & Company LLC reissued a "buy" rating and set a $1,040.00 target price on shares of Lumentum in a research note on Wednesday, August 12th. Finally, UBS Group set a $820.00 price target on Lumentum in a report on Wednesday, August 12th. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $1,044.67.

Lumentum Stock Down 9.9%

Shares of NASDAQ LITE opened at $873.31 on Wednesday. The company has a market capitalization of $67.94 billion, a price-to-earnings ratio of -10.62 and a beta of 1.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.68 and a quick ratio of 1.40. The business has a 50-day moving average of $811.58 and a two-hundred day moving average of $783.10. Lumentum Holdings Inc. has a 1 year low of $111.20 and a 1 year high of $1,085.68.

Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The technology company reported $3.23 EPS for the quarter, beating analysts' consensus estimates of $2.97 by $0.26. Lumentum had a positive return on equity of 26.34% and a negative net margin of 230.15%.The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $987.70 million. During the same quarter in the prior year, the business posted $0.88 EPS. The business's revenue for the quarter was up 109.3% on a year-over-year basis. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. On average, analysts forecast that Lumentum Holdings Inc. will post 16.97 earnings per share for the current fiscal year.

Lumentum News Summary

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: AI-driven growth remains the bullish case. Lumentum’s exposure to optical components used in AI data-center networks, along with expectations for rising margins and stronger fiscal 2027 earnings, continues to support the long-term growth narrative. Lumentum Stock Is Overvalued at 11.4X P/S: Should You Still Buy It?
• Positive Sentiment: Broker sentiment remains constructive. Analysts collectively assign Lumentum an average “Moderate Buy” rating, providing ongoing support despite the recent volatility. Lumentum Receives Average Rating of Moderate Buy
• Neutral Sentiment: Valuation is a central debate. At approximately 11.4 times sales, Lumentum trades at a demanding multiple after substantial multi-year gains. While a discounted-cash-flow analysis indicates potential upside, market-based valuation measures suggest the stock may already reflect considerable optimism. Lumentum Stock Looks Fully Priced Despite Cash Flow Upside
• Negative Sentiment: Risk aversion is weighing on optics stocks. Reports concerning Anthropic and a Wall Street Journal article have triggered a selloff across AI hardware names, with Lumentum among the affected optics companies. The move indicates investors are taking profits and questioning near-term AI spending or demand expectations. Optics Stocks Drop on Anthropic News
• Negative Sentiment: The recent rally has increased downside sensitivity. Lumentum had rallied alongside Coherent and AXT after indium phosphide price hikes, but the reversal shows how quickly sentiment can change when sector-wide AI concerns emerge. Optics Stocks Rally on Indium Phosphide Price Hikes

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.

Want to see what other hedge funds are holding LITE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lumentum Holdings Inc. (NASDAQ:LITE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source