Louisiana State Employees Retirement System Acquires New Stake in Lumentum Holdings Inc. $LITE

Key Points

• Louisiana State Employees Retirement System disclosed a new first-quarter stake in Lumentum Holdings, buying 3,600 shares valued at about $2.53 million. The filing comes amid continued institutional interest, with institutions reportedly owning 94.05% of the stock.
• Lumentum reported better-than-expected quarterly earnings, posting $2.37 EPS versus the $2.27 consensus, while revenue rose 90.1% year over year to $808.4 million. The company also issued Q4 2026 EPS guidance of $2.85 to $3.05.
• Analysts remain broadly positive on LITE, with the stock carrying a Moderate Buy consensus and an average price target of $1,021.95. Several firms raised targets sharply, including Loop Capital to $1,400 and JPMorgan to $1,130.

Louisiana State Employees Retirement System acquired a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,600 shares of the technology company's stock, valued at approximately $2,530,000.

Several other hedge funds have also added to or reduced their stakes in LITE. Hilton Head Capital Partners LLC bought a new position in shares of Lumentum during the first quarter valued at $25,000. Truvestments Capital LLC raised its position in shares of Lumentum by 300.0% in the 4th 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 last quarter. V Square Quantitative Management LLC bought a new position in Lumentum in the 4th quarter worth about $28,000. Triumph Capital Management purchased a new stake in Lumentum during the 4th quarter valued at about $30,000. Finally, Harbour Investments Inc. grew its position in Lumentum by 675.0% during the 4th quarter. Harbour Investments Inc. now owns 93 shares of the technology company's stock valued at $34,000 after purchasing an additional 81 shares during the last quarter. 94.05% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Lumentum news, 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 value of $1,416,113.28. Following the completion of the sale, the director owned 6,984 shares of the company's stock, valued at approximately $6,984,558.72. The trade was a 16.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vincent Retort sold 3,183 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $3,036,422.85. Following the transaction, the insider directly owned 89,563 shares in the company, valued at $85,438,623.85. The trade was a 3.43% decrease in their ownership of the stock. 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 have sold a total of 41,260 shares of company stock valued at $38,859,220 in the last ninety days. Corporate insiders own 0.43% of the company's stock.

Lumentum Price Performance

LITE opened at $851.40 on Tuesday. The company's 50-day simple moving average is $900.23 and its two-hundred day simple moving average is $674.14. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14. The stock has a market capitalization of $66.24 billion, a P/E ratio of 157.67 and a beta of 1.47. Lumentum Holdings Inc. has a 52-week low of $88.37 and a 52-week high of $1,085.68.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping analysts' consensus estimates of $2.27 by $0.10. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The firm had revenue of $808.40 million during the quarter, compared to analyst estimates of $810.21 million. During the same period in the previous year, the business posted $0.57 earnings per share. The business's revenue for the quarter was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, analysts predict that Lumentum Holdings Inc. will post 6.4 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on LITE. Susquehanna lifted their target price on shares of Lumentum from $550.00 to $1,100.00 and gave the stock a "positive" rating in a report on Monday, April 20th. TD Cowen increased their price target on shares of Lumentum from $875.00 to $995.00 and gave the company a "hold" rating in a report on Wednesday, May 6th. UBS Group raised their price target on shares of Lumentum from $455.00 to $960.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. boosted their price objective on shares of Lumentum from $950.00 to $1,130.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Finally, Loop Capital upped their price objective on Lumentum from $900.00 to $1,400.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,021.95.

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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