Healthcare of Ontario Pension Plan Trust Fund Has $3.15 Million Position in Lumentum Holdings Inc. $LITE

Key Points

• Healthcare of Ontario Pension Plan Trust Fund increased its Lumentum stake by 448,200% in the first quarter, ending with 4,483 shares valued at approximately $3.15 million. Institutional investors and hedge funds collectively own 94.05% of Lumentum.
• Analysts remain broadly positive, with 14 Buy ratings and seven Holds producing a “Moderate Buy” consensus and an average price target of $1,012.67; targets recently ranged from $960 to $1,400.
• Lumentum reported quarterly EPS of $2.37, exceeding estimates, while revenue rose 90.1% year over year to $808.4 million. Insiders sold shares primarily through pre-arranged plans to cover tax obligations, with total insider sales reaching $38.9 million over the past 90 days.

Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 448,200.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,483 shares of the technology company's stock after purchasing an additional 4,482 shares during the period. Healthcare of Ontario Pension Plan Trust Fund's holdings in Lumentum were worth $3,150,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its position in Lumentum by 18.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,854,801 shares of the technology company's stock worth $683,661,000 after buying an additional 291,591 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Lumentum by 9.6% during the fourth quarter. Geode Capital Management LLC now owns 1,412,213 shares of the technology company's stock worth $521,563,000 after purchasing an additional 123,265 shares in the last quarter. Situational Awareness LP lifted its position in shares of Lumentum by 210.9% during the fourth quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company's stock worth $478,577,000 after purchasing an additional 880,800 shares in the last quarter. Norges Bank bought a new stake in shares of Lumentum during the fourth quarter valued at approximately $474,495,000. Finally, Value Aligned Research Advisors LLC bought a new stake in shares of Lumentum during the fourth quarter valued at approximately $432,062,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on LITE. Raymond James Financial restated an "outperform" rating and issued a $1,014.00 price objective on shares of Lumentum in a research report on Wednesday, May 6th. JPMorgan Chase & Co. boosted their target price on Lumentum from $950.00 to $1,130.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. UBS Group raised their price target on Lumentum from $455.00 to $960.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. Citigroup reissued a "buy" rating on shares of Lumentum in a report on Thursday, July 16th. Finally, Loop Capital upped their target price on shares of Lumentum from $900.00 to $1,400.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Fourteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Lumentum currently has an average rating of "Moderate Buy" and a consensus target price of $1,012.67.

Insiders Place Their Bets

In related news, SVP Jae Kim sold 1,422 shares of Lumentum 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 $1,356,516.90. Following the transaction, the senior vice president owned 32,333 shares of the company's stock, valued at $30,844,065.35. This trade represents a 4.21% decrease in their position. The transaction was disclosed in a legal 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Wajid Ali sold 2,487 shares of the business's 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 $2,372,473.65. Following the transaction, the chief financial officer owned 60,951 shares of the company's stock, valued at approximately $58,144,206.45. This represents a 3.92% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 41,260 shares of company stock worth $38,859,220 over the last ninety days. Company insiders own 0.43% of the company's stock.

Lumentum Stock Up 15.1%

Shares of Lumentum stock opened at $693.24 on Friday. The business has a fifty day simple moving average of $825.72 and a 200 day simple moving average of $736.71. The stock has a market cap of $53.93 billion, a PE ratio of 128.38 and a beta of 1.48. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a 12 month low of $101.61 and a 12 month high of $1,085.68.

Lumentum (NASDAQ:LITE - Get Free Report) last released its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $810.21 million. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The company's quarterly revenue was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Research analysts predict that Lumentum Holdings Inc. will post 6.42 EPS for the current 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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