Fifth Third Bancorp Boosts Stock Position in Lumentum Holdings Inc. $LITE

Fifth Third Bancorp increased its holdings in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 2,431.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,546 shares of the technology company's stock after purchasing an additional 18,774 shares during the quarter. Fifth Third Bancorp's holdings in Lumentum were worth $13,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Hilton Head Capital Partners LLC purchased a new position in shares of Lumentum during the first quarter valued at approximately $25,000. Sachetta LLC raised its holdings in shares of Lumentum by 118.8% during the first quarter. Sachetta LLC now owns 35 shares of the technology company's stock valued at $25,000 after acquiring an additional 19 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Lumentum in the fourth quarter worth $28,000. Truvestments Capital LLC lifted its stake in Lumentum by 300.0% in the fourth quarter. Truvestments Capital LLC now owns 76 shares of the technology company's stock worth $28,000 after acquiring an additional 57 shares during the period. Finally, Triumph Capital Management bought a new stake in Lumentum in the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Lumentum News Roundup

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: UBS said rising data-center investment should support demand for companies like Lumentum, reinforcing the AI-optics growth narrative. ANET, CLS, EXTR, LITE stock in focus — UBS sees data center investments to drive demand, but supply constraints persist
• Positive Sentiment: Commentary highlighting Lumentum as an optical company trading like a semiconductor suggests the market is valuing it more like a high-growth AI infrastructure beneficiary. Lumentum: An Optical Company Trading Like A Semiconductor
• Positive Sentiment: Another article framed the recent AI-optical selloff as a buying opportunity, which may be encouraging dip-buying in LITE and peers. The AI Optical Selloff Is A Gift - 3 Stocks I'm Buying
• Positive Sentiment: Reports on Lumentum’s planned fiscal Q4 and full-year 2026 results keep attention on upcoming catalysts, which can support trading interest. Lumentum Announces Reporting Date for Fourth Quarter and Fiscal Year 2026 Results
• Positive Sentiment: Coverage on AI-driven optical networking demand and co-packaged optics adoption points to a favorable longer-term growth story for Lumentum.

Lumentum Price Performance

Shares of NASDAQ LITE opened at $814.80 on Wednesday. Lumentum Holdings Inc. has a fifty-two week low of $94.32 and a fifty-two week high of $1,085.68. The company has a 50 day simple moving average of $876.03 and a two-hundred day simple moving average of $705.88. The company has a market capitalization of $63.39 billion, a price-to-earnings ratio of 150.89 and a beta of 1.48. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14.

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

Insider Buying and Selling

In other news, insider Yuen Wupen sold 3,210 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $3,062,179.50. Following the sale, the insider owned 81,488 shares in the company, valued at $77,735,477.60. This represents a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 4,000 shares of the firm'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 sale, the director directly owned 8,400 shares of the company's stock, valued at $7,224,000. This trade represents a 32.26% 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. Insiders have sold a total of 41,260 shares of company stock worth $38,859,220 over the last quarter. 0.43% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Barclays boosted their price objective on shares of Lumentum from $750.00 to $1,000.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 6th. BNP Paribas Exane lifted their target price on shares of Lumentum from $1,040.00 to $1,300.00 in a research note on Wednesday, May 6th. JPMorgan Chase & Co. boosted their price target on shares of Lumentum from $950.00 to $1,130.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. TD Cowen decreased their price target on shares of Lumentum from $995.00 to $800.00 and set a "hold" rating for the company in a research note on Monday. Finally, Citigroup increased their price target on shares of Lumentum from $800.00 to $1,100.00 and gave the stock a "buy" rating in a research note on Tuesday, April 21st. Fourteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,012.67.

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.