Lumentum Holdings Inc. $LITE Shares Bought by E. Ohman J or Asset Management AB

Key Points

• E. Ohman J or Asset Management AB increased its Lumentum stake by 45.1% in the third quarter, purchasing 11,302 additional shares and ending the period with 36,363 shares worth approximately $35.3 million.
• Institutional investors own 94.05% of Lumentum’s stock, while insiders have sold 94,496 shares valued at nearly $86 million over the past 90 days.
• Analyst sentiment remains favorable, with a “Moderate Buy” consensus and an average price target of $1,080.83; Lumentum also reported quarterly revenue growth of 109.3% year over year and earnings above expectations.

E. Ohman J or Asset Management AB grew its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 45.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,363 shares of the technology company's stock after purchasing an additional 11,302 shares during the period. Lumentum makes up about 0.8% of E. Ohman J or Asset Management AB's holdings, making the stock its 25th largest holding. E. Ohman J or Asset Management AB's holdings in Lumentum were worth $35,318,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Red Spruce Capital LLC raised its stake in Lumentum by 0.4% in the 3rd quarter. Red Spruce Capital LLC now owns 3,200 shares of the technology company's stock valued at $3,108,000 after purchasing an additional 12 shares during the last quarter. CYBER HORNET ETFs LLC boosted its position in shares of Lumentum by 7.2% during the second quarter. CYBER HORNET ETFs LLC now owns 209 shares of the technology company's stock worth $179,000 after buying an additional 14 shares during the period. Hilltop National Bank grew its holdings in Lumentum by 26.8% during the second quarter. Hilltop National Bank now owns 71 shares of the technology company's stock valued at $61,000 after purchasing an additional 15 shares during the last quarter. Sachetta LLC increased its stake in shares of Lumentum by 118.8% in the first quarter. Sachetta LLC now owns 35 shares of the technology company's stock worth $25,000 after purchasing an additional 19 shares during the period. Finally, Kieckhefer Group LLC raised its stake in Lumentum by 0.8% during the 3rd quarter. Kieckhefer Group LLC now owns 3,191 shares of the technology company's stock valued at $3,099,000 after purchasing an additional 25 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Insider Buying and Selling at Lumentum

In related news, insider Yuen Wupen sold 307 shares of Lumentum stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $945.00, for a total value of $290,115.00. Following the completion of the transaction, the insider directly owned 108,320 shares in the company, valued at approximately $102,362,400. The trade was a 0.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Wajid Ali sold 24,542 shares of the business's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $1,048.50, for a total value of $25,732,287.00. Following the sale, the chief financial officer owned 75,074 shares in the company, valued at approximately $78,715,089. The trade was a 24.64% 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. Over the last 90 days, insiders sold 94,496 shares of company stock worth $85,978,498. Corporate insiders own 0.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LITE. Needham & Company LLC reissued a "buy" rating and issued a $1,040.00 target price on shares of Lumentum in a research note on Wednesday, August 12th. Rosenblatt Securities reissued a "buy" rating and set a $1,300.00 price target on shares of Lumentum in a report on Monday, October 5th. UBS Group set a $820.00 price objective on Lumentum in a research note on Wednesday, August 12th. Weiss Ratings cut shares of Lumentum from a "hold (c-)" rating to a "sell (d-)" rating in a research note on Wednesday, August 19th. Finally, Morgan Stanley boosted their price objective on Lumentum from $900.00 to $1,000.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 12th. Sixteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Lumentum presently has an average rating of "Moderate Buy" and an average target price of $1,080.83.

Lumentum Price Performance

LITE stock opened at $752.54 on Friday. Lumentum Holdings Inc. has a 1 year low of $157.40 and a 1 year high of $1,143.00. The company's 50-day moving average is $927.74 and its 200-day moving average is $878.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.68 and a quick ratio of 1.40. The stock has a market capitalization of $68.17 billion, a PE ratio of -9.15 and a beta of 1.53.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its earnings results on Tuesday, August 11th. The technology company reported $3.23 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $987.70 million. During the same period in the previous year, the firm posted $0.88 earnings per share. The firm's revenue for the quarter was up 109.3% on a year-over-year basis. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Equities research analysts expect that Lumentum Holdings Inc. will post 19.79 EPS for the current fiscal year.

Lumentum Profile

Lumentum Holdings Inc is a technology company that designs and manufactures optical and photonic products for communications networks, industrial applications, and consumer electronics. Its portfolio includes optical components, modules, and subsystems used in fiber-optic networks, data centers, cloud computing infrastructure, telecommunications equipment, and high-speed connectivity systems.

The company also develops laser products for applications such as industrial processing, sensing, three-dimensional imaging, and other specialized commercial and consumer uses.

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.