IFM Investors Pty Ltd Buys Shares of 14,669 Lumentum Holdings Inc. $LITE

Key Points

• IFM Investors Pty Ltd disclosed a new first-quarter stake in Lumentum Holdings, buying 14,669 shares worth about $10.3 million. The filing adds to evidence of strong institutional interest in the stock, with hedge funds and other institutions owning 94.05% of shares.
• Wall Street sentiment remains upbeat: several firms reiterated buy or outperform ratings, and the consensus target price is $1,021.95. JPMorgan, Jefferies, Raymond James, and B. Riley all maintained bullish views, while UBS raised its price target but kept a neutral rating.
• Lumentum reported better-than-expected quarterly EPS of $2.37, and revenue surged 90.1% year over year to $808.4 million. However, insiders have been selling shares recently, including directors Ian Small and Isaac Hosojiro Harris, with total insider sales of 41,260 shares over the last three months.

IFM Investors Pty Ltd purchased a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 14,669 shares of the technology company's stock, valued at approximately $10,309,000.

Several other institutional investors have also modified their holdings of LITE. Hilton Head Capital Partners LLC purchased a new position in Lumentum in the 1st quarter valued at approximately $25,000. Parallel Advisors LLC boosted its position in Lumentum by 16.0% during the fourth quarter. Parallel Advisors LLC now owns 326 shares of the technology company's stock worth $120,000 after purchasing an additional 45 shares in the last quarter. Allworth Financial LP boosted its position in Lumentum by 6.4% during the third quarter. Allworth Financial LP now owns 784 shares of the technology company's stock worth $128,000 after purchasing an additional 47 shares in the last quarter. UMB Bank n.a. grew its holdings in Lumentum by 5.2% in the fourth quarter. UMB Bank n.a. now owns 968 shares of the technology company's stock valued at $357,000 after purchasing an additional 48 shares during the last quarter. Finally, SJS Investment Consulting Inc. increased its position in shares of Lumentum by 687.5% in the first quarter. SJS Investment Consulting Inc. now owns 63 shares of the technology company's stock valued at $44,000 after buying an additional 55 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 research firms have recently issued reports on LITE. B. Riley Financial reaffirmed a "buy" rating on shares of Lumentum in a research note on Friday, May 1st. JPMorgan Chase & Co. lifted their target price on shares of Lumentum from $950.00 to $1,130.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Raymond James Financial reaffirmed an "outperform" rating and issued a $1,014.00 price target on shares of Lumentum in a report on Wednesday, May 6th. Jefferies Financial Group reiterated a "buy" rating and issued a $1,200.00 price target on shares of Lumentum in a research report on Wednesday, May 6th. Finally, UBS Group lifted their price objective on Lumentum from $455.00 to $960.00 and gave the stock a "neutral" rating in a research 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 given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,021.95.

Insider Buying and Selling

In other news, Director Ian Small sold 4,954 shares of Lumentum stock in a transaction on Thursday, May 21st. The stock was 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 owned 21,008 shares of the company's stock, valued at $18,236,414.56. The trade was a 19.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Isaac Hosojiro Harris sold 4,000 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $860.00, for a total value of $3,440,000.00. Following the transaction, the director owned 8,400 shares in the company, valued at $7,224,000. This trade represents a 32.26% decrease in their ownership of the stock. 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 sold a total of 41,260 shares of company stock worth $38,859,220 in the last three months. 0.43% of the stock is currently owned by insiders.

Lumentum Price Performance

Lumentum stock opened at $801.16 on Thursday. The stock has a market capitalization of $62.33 billion, a P/E ratio of 148.36 and a beta of 1.48. Lumentum Holdings Inc. has a 12-month low of $88.37 and a 12-month high of $1,085.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. The firm's 50-day moving average is $897.63 and its two-hundred day moving average is $680.63.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating 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 net margin of 17.61% and a return on equity of 24.81%. The company's revenue was up 90.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.57 earnings per share. 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 year.

Lumentum Profile

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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