Legal & General Group Plc bought a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 438,826 shares of the technology company's stock, valued at approximately $376,539,000. Legal & General Group Plc owned about 0.56% of Lumentum at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in LITE. Hilltop National Bank increased its position in shares of Lumentum by 26.8% during the second quarter. Hilltop National Bank now owns 71 shares of the technology company's stock worth $61,000 after purchasing an additional 15 shares in the last quarter. Sachetta LLC lifted its holdings in Lumentum by 118.8% in the 1st quarter. Sachetta LLC now owns 35 shares of the technology company's stock valued at $25,000 after purchasing an additional 19 shares in the last quarter. Versant Capital Management Inc boosted its stake in Lumentum by 39.5% during the 2nd quarter. Versant Capital Management Inc now owns 106 shares of the technology company's stock worth $91,000 after purchasing an additional 30 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new stake in Lumentum during the 1st quarter worth $25,000. Finally, Abel Hall LLC grew its holdings in shares of Lumentum by 5.5% during the first quarter. Abel Hall LLC now owns 693 shares of the technology company's stock worth $487,000 after buying an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.
Wall Street Analyst Weigh In
LITE has been the topic of several research reports. TD Cowen raised their price target on shares of Lumentum from $800.00 to $820.00 and gave the stock a "hold" rating in a research note on Wednesday, August 12th. 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 report on Tuesday, May 5th. BNP Paribas Exane raised their target price on shares of Lumentum from $1,040.00 to $1,300.00 in a research note on Wednesday, May 6th. UBS Group set a $820.00 target price on Lumentum in a report on Wednesday, August 12th. Finally, B. Riley Financial restated a "buy" rating on shares of Lumentum in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,044.67.
View Our Latest Stock Analysis on LITE
Lumentum Trading Up 6.7%
Shares of LITE opened at $885.57 on Wednesday. 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 Holdings Inc. has a 12-month low of $123.50 and a 12-month high of $1,085.68. The firm has a 50-day moving average price of $807.42 and a 200 day moving average price of $798.54. The firm has a market capitalization of $79.44 billion, a P/E ratio of -10.77 and a beta of 1.50.
Lumentum (NASDAQ:LITE - Get Free Report) last issued its earnings results on Tuesday, August 11th. The technology company reported $3.23 EPS for the quarter, topping analysts' consensus estimates of $2.97 by $0.26. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $987.70 million. During the same period in the previous year, the firm earned $0.88 earnings per share. Lumentum's quarterly revenue was up 109.3% compared to the same quarter last year. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Sell-side analysts forecast that Lumentum Holdings Inc. will post 19.76 EPS for the current year.
Insider Activity
In other news, insider Vincent Retort sold 2,483 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $827.82, for a total transaction of $2,055,477.06. Following the completion of the sale, the insider owned 109,438 shares in the company, valued at $90,594,965.16. This trade represents a 2.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 Lumentum 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 sale, the director directly owned 6,984 shares in the company, valued at approximately $6,984,558.72. The trade was a 16.86% 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. Insiders have sold 16,352 shares of company stock worth $14,315,562 over the last quarter. 0.43% of the stock is currently owned by corporate insiders.
Key Lumentum News
Here are the key news stories impacting Lumentum this week:
- Positive Sentiment: Lumentum’s 1.6T optical transceiver and 200G laser product ramps are positioned to benefit from growing AI data-center connectivity demand. Capacity expansion and tight industry supply could support revenue growth, although execution remains important. Lumentum's 1.6T and 200G Ramp Faces Cisco and NVIDIA Competition
- Positive Sentiment: The company’s recent earnings report showed revenue more than doubling year over year, while quarterly earnings exceeded estimates and management issued strong forward guidance. These results reinforce the investment case tied to AI-related demand. Lumentum Holdings as AI Demand and Fresh Guidance Put Valuation in Focus
- Positive Sentiment: Recent weakness in the shares may provide a more favorable entry point if Lumentum delivers on its growth outlook, although the stock’s substantial year-to-date gains make expectations high. Lumentum Stock Sinks: Why Better Times May Be Ahead
- Neutral Sentiment: A reported August short-interest figure of zero shares appears to be a data or reporting error, so it provides no meaningful signal about short-selling pressure.
- Negative Sentiment: Cisco Systems and NVIDIA are increasing competition in high-speed optical components, potentially pressuring Lumentum’s pricing, market share and margins as its new products ramp.
- Negative Sentiment: Lumentum’s rapid sales growth has been accompanied by a sizable net loss, and investors are scrutinizing whether its elevated valuation is justified by future execution. Coherent and Lumentum: Two AI Optics Suppliers Beat Earnings
- Negative Sentiment: CEO Michael Hurlston sold 6,185 shares valued at approximately $5.1 million, while a senior vice president sold roughly $1.6 million in stock. The transactions reduce insider ownership and may weigh modestly on sentiment, though they do not necessarily indicate deteriorating business conditions. Lumentum CEO Share Sale
Lumentum Profile
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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.
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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.
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