Lumentum Holdings Inc. $LITE Shares Newly Purchased by AMF Tjanstepension AB

Key Points

• AMF Tjanstepension AB acquired 126,905 Lumentum shares worth approximately $123.3 million, representing about 0.14% of the company. Institutional investors collectively own 94.05% of Lumentum.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $1,080.83; ratings include 16 Buys, six Holds, and one Sell.
• Lumentum’s shares opened at $752.54, down 11.5%, despite quarterly EPS of $3.23 and revenue of $1.01 billion exceeding estimates. Insiders sold 94,496 shares worth roughly $86.0 million over the past 90 days.

AMF Tjanstepension AB acquired a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 126,905 shares of the technology company's stock, valued at approximately $123,258,000. AMF Tjanstepension AB owned approximately 0.14% of Lumentum at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jupiter Topco LLC bought a new position in shares of Lumentum during the second quarter valued at approximately $1,621,396,000. WT Asset Management Ltd purchased a new position in shares of Lumentum during the second quarter valued at approximately $494,688,000. Legal & General Group Plc bought a new stake in shares of Lumentum in the 2nd quarter worth approximately $376,539,000. Amundi boosted its position in shares of Lumentum by 188.7% in the 2nd quarter. Amundi now owns 658,427 shares of the technology company's stock worth $564,970,000 after purchasing an additional 430,355 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Lumentum by 163.2% in the 1st quarter. Janus Henderson Group PLC now owns 567,182 shares of the technology company's stock worth $398,590,000 after buying an additional 351,676 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LITE shares. TD Cowen raised their price objective on Lumentum from $800.00 to $820.00 and gave the company a "hold" rating in a research report on Wednesday, August 12th. Mizuho boosted their target price on Lumentum from $1,100.00 to $1,140.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. 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. Zacks Research downgraded Lumentum from a "strong-buy" rating to a "hold" rating in a report on Monday, October 12th. Finally, Sanford C. Bernstein began coverage on shares of Lumentum in a report on Wednesday, September 30th. They issued an "outperform" rating and a $1,220.00 price objective for the company. Sixteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,080.83.

Lumentum Trading Down 11.5%

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

Lumentum (NASDAQ:LITE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The technology company reported $3.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.97 by $0.26. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $987.70 million. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The company's revenue for the quarter was up 109.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 EPS. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. As a group, equities analysts anticipate that Lumentum Holdings Inc. will post 19.79 earnings per share for the current year.

Insider Transactions at Lumentum

In other news, CFO Wajid Ali sold 24,542 shares of Lumentum stock in a transaction dated 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 of the company's stock, valued at $78,715,089. The trade was a 24.64% decrease in their position. The transaction 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. Also, insider Yuen Wupen sold 307 shares of the business's 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 transaction, the insider owned 108,320 shares of the company's stock, valued at approximately $102,362,400. This trade 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. In the last 90 days, insiders sold 94,496 shares of company stock valued at $85,978,498. Company insiders own 0.28% of the company's stock.

About Lumentum

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.

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