Mediolanum International Funds Ltd Invests $2.87 Million in Lumentum Holdings Inc. $LITE

Key Points

• Mediolanum International Funds Ltd initiated a new position in Lumentum Holdings, buying 4,375 shares valued at about $2.87 million in the first quarter.
• Insider selling has been notable, including stock sales by Director Isaac Hosojiro Harris and CFO Wajid Ali; the article says insiders sold 41,260 shares worth roughly $38.9 million over the last 90 days.
• Lumentum reported better-than-expected quarterly earnings of $2.37 per share and said revenue rose 90.1% year over year; analysts have a Moderate Buy consensus with an average price target of $1,012.67.

Mediolanum International Funds Ltd bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,375 shares of the technology company's stock, valued at approximately $2,865,000.

A number of other large investors have also recently bought and sold shares of LITE. Advisors Asset Management Inc. increased its stake in Lumentum by 36.8% in the first quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company's stock valued at $59,000 after purchasing an additional 254 shares during the period. NewEdge Advisors LLC increased its position in Lumentum by 109.9% in the 1st quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company's stock valued at $747,000 after acquiring an additional 6,275 shares during the period. Empowered Funds LLC raised its stake in Lumentum by 9.1% during the 1st quarter. Empowered Funds LLC now owns 8,139 shares of the technology company's stock valued at $507,000 after acquiring an additional 680 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in Lumentum during the 2nd quarter worth approximately $298,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Lumentum in the 2nd quarter valued at approximately $1,712,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Insider Activity at Lumentum

In other news, Director Isaac Hosojiro Harris sold 1,416 shares of the company's stock in a transaction 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 transaction, the director directly owned 6,984 shares of the company's stock, valued at $6,984,558.72. This represents a 16.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Wajid Ali sold 2,487 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $2,372,473.65. Following the completion of the transaction, the chief financial officer owned 60,951 shares of the company's stock, valued at $58,144,206.45. This represents a 3.92% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 41,260 shares of company stock worth $38,859,220. 0.43% of the stock is currently owned by insiders.

Lumentum Stock Up 9.4%

LITE opened at $837.56 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. The business has a 50 day simple moving average of $856.21 and a 200-day simple moving average of $719.22. The stock has a market capitalization of $65.16 billion, a P/E ratio of 155.10 and a beta of 1.48. Lumentum Holdings Inc. has a 12 month low of $97.55 and a 12 month high of $1,085.68.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping analysts' consensus estimates of $2.27 by $0.10. The firm had revenue of $808.40 million for the quarter, compared to analyst estimates of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.Lumentum's quarterly revenue was up 90.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, equities analysts anticipate that Lumentum Holdings Inc. will post 6.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LITE shares. Loop Capital upped their price target on Lumentum from $900.00 to $1,400.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. JPMorgan Chase & Co. lifted their price objective on shares of Lumentum from $950.00 to $1,130.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Morgan Stanley boosted their price objective on shares of Lumentum from $710.00 to $900.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. Craig Hallum upped their price objective on shares of Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. Finally, Mizuho set a $1,100.00 target price on shares of Lumentum in a research note on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,012.67.

Lumentum Company 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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