Groupe la Francaise Buys New Stake in Lumentum Holdings Inc. $LITE

Key Points

• Groupe la Francaise acquired 9,146 Lumentum shares during the second quarter, worth approximately $7.26 million. Institutional investors and hedge funds collectively own 94.05% of Lumentum’s stock.
• Wall Street sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $1,053.83. Recent analysts set targets ranging from $1,040 to $1,300.
• Lumentum exceeded quarterly expectations, reporting $3.23 in EPS versus the $2.97 consensus and $1.01 billion in revenue, up 109.3% year over year. However, company insiders sold 65,147 shares worth approximately $55.8 million over the past quarter.

Groupe la Francaise bought a new position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 9,146 shares of the technology company's stock, valued at approximately $7,260,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LITE. Hilton Head Capital Partners LLC bought a new stake in Lumentum during the first quarter valued at about $25,000. Sachetta LLC increased its stake in shares of Lumentum by 118.8% in the first quarter. Sachetta LLC now owns 35 shares of the technology company's stock worth $25,000 after purchasing an additional 19 shares during the period. Truvestments Capital LLC increased its stake in shares of 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 purchasing an additional 57 shares during the period. Triumph Capital Management acquired a new position in shares of Lumentum during the 4th quarter worth about $30,000. Finally, Danske Bank A S acquired a new position in shares of Lumentum during the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Wall Street Analysts Forecast Growth

LITE has been the topic of a number of research analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $1,300.00 target price on shares of Lumentum in a report on Wednesday, August 12th. Needham & Company LLC reiterated a "buy" rating and set a $1,040.00 price target on shares of Lumentum in a report on Wednesday, August 12th. Wolfe Research reissued an "outperform" rating on shares of Lumentum in a research report on Friday, August 21st. Citic Securities raised their price objective on shares of Lumentum from $620.00 to $1,186.00 in a research note on Monday, May 11th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Lumentum in a research note on Monday, August 31st. They issued a "buy" rating and a $1,200.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,053.83.

Lumentum Price Performance

Shares of NASDAQ:LITE opened at $881.26 on Tuesday. Lumentum Holdings Inc. has a 1-year low of $144.20 and a 1-year high of $1,085.68. The firm has a market capitalization of $79.05 billion, a PE ratio of -10.72 and a beta of 1.53. The business's 50 day moving average is $815.21 and its 200-day moving average is $819.50. The company has a current ratio of 1.68, a quick ratio of 1.40 and a debt-to-equity ratio of 0.01.

Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The technology company reported $3.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.97 by $0.26. The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $987.70 million. Lumentum had a positive return on equity of 26.34% and a negative net margin of 230.15%.Lumentum's quarterly revenue was up 109.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 earnings per share. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Sell-side analysts predict that Lumentum Holdings Inc. will post 19.78 earnings per share for the current year.

Insider Buying and Selling at Lumentum

In other Lumentum news, CEO Michael Hurlston sold 548 shares of the business's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $958.66, for a total value of $525,345.68. Following the sale, the chief executive officer owned 186,951 shares of the company's stock, valued at $179,222,445.66. The trade was a 0.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Vincent Retort sold 38,663 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $852.59, for a total transaction of $32,963,687.17. Following the completion of the transaction, the insider owned 78,440 shares of the company's stock, valued at approximately $66,877,159.60. This represents a 33.02% 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 quarter, insiders sold 65,147 shares of company stock worth $55,812,856. Corporate insiders own 0.43% of the company's stock.

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.