E. Ohman J or Asset Management AB Invests $1.69 Million in Lumentum Holdings Inc. $LITE

Key Points

• E. Ohman J or Asset Management AB opened a new position in Lumentum Holdings during the first quarter, buying 2,400 shares valued at about $1.69 million.
• Several analysts turned more constructive on Lumentum, with multiple price targets raised and the stock currently carrying a Moderate Buy consensus rating and a consensus target of $1,021.95.
• Lumentum reported strong quarterly results, including EPS of $2.37 versus the $2.27 estimate and revenue up 90.1% year over year, though insiders have also been selling shares recently.

E. Ohman J or Asset Management AB acquired a new position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,400 shares of the technology company's stock, valued at approximately $1,687,000.

Other large investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in Lumentum by 363.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company's stock worth $27,000 after acquiring an additional 131 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Lumentum in the 4th quarter valued at about $28,000. Truvestments Capital LLC boosted its position in shares of Lumentum by 300.0% during the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company's stock valued at $28,000 after acquiring an additional 57 shares during the last quarter. Triumph Capital Management bought a new stake in shares of Lumentum during the 4th quarter valued at about $30,000. Finally, Danske Bank A S bought a new stake in shares of Lumentum during the 3rd quarter valued at about $33,000. Institutional investors own 94.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on LITE shares. TD Cowen upped their price objective on shares of Lumentum from $875.00 to $995.00 and gave the stock a "hold" rating in a research report on Wednesday, May 6th. Citic Securities lifted their target price on shares of Lumentum from $620.00 to $1,186.00 in a research report on Monday, May 11th. B. Riley Financial reiterated a "buy" rating on shares of Lumentum in a research report on Friday, May 1st. Craig Hallum boosted their price target on shares of Lumentum from $900.00 to $1,150.00 in a research note on Wednesday, May 6th. Finally, UBS Group increased their price target on shares of Lumentum from $455.00 to $960.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,021.95.

Insider Buying and Selling at Lumentum

In other news, Director Ian Small sold 4,954 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $868.07, for a total value of $4,300,418.78. Following the completion of the sale, the director directly owned 21,008 shares in the company, valued at approximately $18,236,414.56. The trade was a 19.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian Lillie sold 11,951 shares of the business'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 completion of the sale, 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 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 valued at $38,859,220. 0.43% of the stock is currently owned by corporate insiders.

Lumentum Price Performance

LITE opened at $850.00 on Monday. The stock has a 50-day moving average price of $902.94 and a 200-day moving average price of $652.12. Lumentum Holdings Inc. has a 12-month low of $86.63 and a 12-month high of $1,085.68. 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 stock has a market capitalization of $66.13 billion, a P/E ratio of 157.41 and a beta of 1.47.

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