Lumentum Holdings Inc. $LITE Position Boosted by Aberdeen Group plc

Aberdeen Group plc lifted its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 1,304.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 81,514 shares of the technology company's stock after buying an additional 75,711 shares during the quarter. Aberdeen Group plc owned about 0.09% of Lumentum worth $79,171,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of LITE. Jupiter Topco LLC acquired a new position in shares of Lumentum during the 2nd quarter valued at $1,621,396,000. Amundi grew its holdings in Lumentum by 188.7% in the second quarter. Amundi now owns 658,427 shares of the technology company's stock worth $564,970,000 after purchasing an additional 430,355 shares during the period. WT Asset Management Ltd bought a new stake in Lumentum in the second quarter valued at $494,688,000. Janus Henderson Group PLC increased its stake in Lumentum by 163.2% in the first quarter. Janus Henderson Group PLC now owns 567,182 shares of the technology company's stock valued at $398,590,000 after purchasing an additional 351,676 shares in the last quarter. Finally, Legal & General Group Plc bought a new stake in Lumentum in the second quarter valued at $376,539,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Insiders Place Their Bets

In other Lumentum news, CFO Wajid Ali sold 24,542 shares of the firm's stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $1,048.50, for a total transaction of $25,732,287.00. Following the transaction, the chief financial officer directly owned 75,074 shares in the company, valued at approximately $78,715,089. This trade represents a 24.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 307 shares of Lumentum stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $945.00, for a total transaction of $290,115.00. Following the transaction, the insider directly owned 108,320 shares in the company, valued at $102,362,400. This represents a 0.28% 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. Insiders sold a total of 94,496 shares of company stock valued at $85,978,498 over the last three months. 0.28% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on LITE shares. Zacks Research cut shares of Lumentum from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 12th. JPMorgan Chase & Co. raised their target price on Lumentum from $1,165.00 to $1,280.00 and gave the company an "overweight" rating in a research note on Wednesday, August 12th. B. Riley Financial lowered Lumentum from a "buy" rating to a "neutral" rating and decreased their target price for the company from $1,142.00 to $770.00 in a research report on Tuesday, November 3rd. Mizuho set a $1,132.00 price target on Lumentum in a research note on Monday, November 2nd. Finally, Stifel Nicolaus set a $806.00 price target on Lumentum in a research note on Monday, November 2nd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Lumentum has a consensus rating of "Moderate Buy" and an average target price of $1,053.17.

Lumentum News Roundup

These are some of the LITE news items that stood out recently:

• Positive Sentiment: An analyst upgrade was followed by a reported 10.7% rise in LITE shares, while Sanford C. Bernstein also increased its price target—potential signs of improved analyst sentiment. Lumentum stock price up following analyst upgrade Sanford C. Bernstein increases price target
• Neutral Sentiment: Marvell, which has proposed acquiring Lumentum, added three independent directors to its board. The move adds governance context to the proposed deal, though the headline does not indicate a change in its terms. Another article frames Marvell as a key reference point for Lumentum’s valuation, but offers no specific deal update. Marvell adds independent directors Marvell and Lumentum valuation
• Negative Sentiment: Bearish signals include a UBS pessimistic forecast and a separate analyst downgrade that was associated with a decline in LITE shares. One report says the stock has fallen about 40% in a month, underscoring the pressure investors may want to see overcome before a recovery toward $1,000. UBS issues pessimistic forecast Lumentum shares fall on analyst downgrade Lumentum’s recent decline and recovery prospects

Lumentum Price Performance

LITE stock opened at $596.62 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.27 and a current ratio of 1.61. The business has a 50-day simple moving average of $867.22 and a two-hundred day simple moving average of $808.06. The company has a market capitalization of $54.11 billion, a P/E ratio of -7.58 and a beta of 1.64. Lumentum Holdings Inc. has a 52-week low of $215.35 and a 52-week high of $1,143.00.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its quarterly earnings data on Monday, November 2nd. The technology company reported $4.57 EPS for the quarter, topping the consensus estimate of $4.22 by $0.35. Lumentum had a positive return on equity of 28.85% and a negative net margin of 175.82%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the business posted $1.10 earnings per share. The company's quarterly revenue was up 136.5% compared to the same quarter last year. Research analysts expect that Lumentum Holdings Inc. will post 19.93 EPS for the current fiscal year.

About Lumentum

Lumentum Holdings Inc. develops and manufactures optical and photonic products used in communications networks and industrial applications. Its offerings include optical components, modules and lasers that help transmit and process data across telecommunications and data center networks. The company also supplies lasers and related technologies for industrial uses, including precision manufacturing and semiconductor production. Its products serve customers in markets around the world. Lumentum became an independent public company in 2015 through a spin-off from JDSU, now Viavi Solutions.

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