Himension Capital Singapore PTE. LTD. reduced its stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 35.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,434 shares of the technology company's stock after selling 10,070 shares during the quarter. Lumentum comprises approximately 1.0% of Himension Capital Singapore PTE. LTD.'s holdings, making the stock its 18th largest position. Himension Capital Singapore PTE. LTD.'s holdings in Lumentum were worth $12,955,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership increased its position in Lumentum by 8,579.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company's stock valued at $254,350,000 after buying an additional 1,545,199 shares in the last quarter. Norges Bank purchased a new position in Lumentum during the fourth quarter valued at $474,495,000. Value Aligned Research Advisors LLC purchased a new position in Lumentum during the fourth quarter valued at $432,062,000. Situational Awareness LP boosted its holdings in Lumentum by 210.9% in the fourth quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company's stock worth $478,577,000 after acquiring an additional 880,800 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Lumentum by 707.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company's stock worth $366,555,000 after acquiring an additional 871,249 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the company. Northland Securities raised their price target on Lumentum from $1,000.00 to $1,200.00 and gave the company an "outperform" rating in a report on Wednesday, June 3rd. Morgan Stanley lifted their price target on Lumentum from $710.00 to $900.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 6th. Susquehanna upped their price target on shares of Lumentum from $550.00 to $1,100.00 and gave the stock a "positive" rating in a research note on Monday, April 20th. Stifel Nicolaus increased their price objective on shares of Lumentum from $800.00 to $1,100.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $1,014.00 target price on shares of Lumentum in a report on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,012.67.
View Our Latest Stock Report on LITE
Insider Transactions at Lumentum
In other news, 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 completion of the transaction, the chief financial officer directly owned 60,951 shares of the company's stock, valued at $58,144,206.45. The trade was a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 1,416 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $1,000.08, for a total transaction of $1,416,113.28. Following the transaction, the director owned 6,984 shares in the company, valued at approximately $6,984,558.72. This trade represents a 16.86% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Company insiders own 0.43% of the company's stock.
Lumentum Trading Up 9.4%
Lumentum stock opened at $837.56 on Wednesday. Lumentum Holdings Inc. has a one year low of $97.55 and a one year high of $1,085.68. The business's fifty day moving average is $856.21 and its 200 day moving average is $719.22. The stock has a market capitalization of $65.16 billion, a PE ratio of 155.10 and a beta of 1.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97.
Lumentum (NASDAQ:LITE - Get Free Report) last issued its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping analysts' consensus estimates of $2.27 by $0.10. The business had revenue of $808.40 million during 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%.Lumentum's revenue was up 90.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, sell-side analysts predict that Lumentum Holdings Inc. will post 6.42 EPS for the current year.
Lumentum Company Profile
(
Free Report)
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.
Further Reading
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