NEOS Investment Management LLC Has $45.64 Million Stock Holdings in Lumentum Holdings Inc. $LITE

Key Points

• NEOS Investment Management increased its Lumentum stake by 416.9% in the second quarter, holding 53,187 shares valued at approximately $45.64 million. Institutional investors and hedge funds collectively own 94.05% of the company.
• Analysts remain broadly positive, with Lumentum receiving a consensus “Moderate Buy” rating and an average price target of $1,053.83; recent targets range as high as $1,280.
• Lumentum exceeded quarterly expectations, reporting $3.23 EPS and $1.01 billion in revenue, with revenue up 109.3% year over year. Insiders sold $54.95 million of shares over the past 90 days, primarily through pre-arranged trading plans.

NEOS Investment Management LLC grew its holdings in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 416.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,187 shares of the technology company's stock after acquiring an additional 42,897 shares during the period. NEOS Investment Management LLC owned 0.06% of Lumentum worth $45,638,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Jupiter Topco LLC bought a new stake in Lumentum in the second quarter worth $1,621,396,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Lumentum by 8,579.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company's stock worth $254,350,000 after buying an additional 1,545,199 shares during the last quarter. Norges Bank acquired a new stake in shares of Lumentum in the fourth quarter worth about $474,495,000. Value Aligned Research Advisors LLC bought a new stake in shares of Lumentum during the 4th quarter worth about $432,062,000. Finally, Situational Awareness LP boosted its stake in shares of Lumentum by 210.9% during the 4th quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company's stock worth $478,577,000 after acquiring an additional 880,800 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Lumentum in a research note on Monday. They issued a "buy" rating and a $1,200.00 price objective on the stock. Mizuho upped their target price on Lumentum from $1,100.00 to $1,140.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 12th. Morgan Stanley increased their price target on Lumentum from $900.00 to $1,000.00 and gave the company an "equal weight" rating in a report on Wednesday, August 12th. Needham & Company LLC reissued a "buy" rating and issued a $1,040.00 price target on shares of Lumentum in a research report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Lumentum from $1,165.00 to $1,280.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Lumentum has a consensus rating of "Moderate Buy" and an average price target of $1,053.83.

Lumentum Price Performance

NASDAQ LITE opened at $847.37 on Friday. Lumentum Holdings Inc. has a twelve month low of $133.91 and a twelve month high of $1,085.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.40 and a current ratio of 1.68. The stock has a market capitalization of $76.01 billion, a PE ratio of -10.31 and a beta of 1.53. The stock has a 50-day simple moving average of $813.36 and a 200 day simple moving average of $815.28.

Lumentum (NASDAQ:LITE - Get Free Report) last released its earnings results 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 for the quarter, compared to analyst estimates of $987.70 million. Lumentum had a positive return on equity of 26.34% and a negative net margin of 230.15%.The company's revenue was up 109.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 EPS. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Research analysts anticipate that Lumentum Holdings Inc. will post 19.78 EPS for the current year.

Insiders Place Their Bets

In other news, insider Vincent Retort sold 38,663 shares of the firm's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $852.59, for a total value of $32,963,687.17. Following the sale, the insider owned 78,440 shares in the company, valued at approximately $66,877,159.60. This trade represents a 33.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 500 shares of the business's stock in a transaction on Monday, August 31st. The stock was sold at an average price of $895.00, for a total transaction of $447,500.00. Following the transaction, the insider directly owned 118,127 shares in the company, valued at $105,723,665. This trade represents a 0.42% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 64,147 shares of company stock valued at $54,950,611 over the last ninety days. 0.43% of the stock is owned by insiders.

About Lumentum

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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