North Dakota State Investment Board Invests $892,000 in Lumentum Holdings Inc. $LITE

Key Points

• The North Dakota State Investment Board initiated a new position in Lumentum, buying 2,419 shares valued at about $892,000 in the fourth quarter.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 94.05% of Lumentum’s shares, while several other funds recently added to their stakes.
• Lumentum’s recent earnings and outlook were strong: the company beat EPS estimates, posted 90.1% year-over-year revenue growth, and saw multiple analysts raise price targets amid optimism tied to AI and data center demand.

North Dakota State Investment Board bought a new position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,419 shares of the technology company's stock, valued at approximately $892,000.

Several other large investors have also recently modified their holdings of LITE. Allworth Financial LP grew its stake in Lumentum by 6.4% during the third quarter. Allworth Financial LP now owns 784 shares of the technology company's stock valued at $128,000 after acquiring an additional 47 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in Lumentum by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,130 shares of the technology company's stock valued at $5,208,000 after acquiring an additional 60 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in Lumentum by 0.4% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 15,559 shares of the technology company's stock valued at $2,532,000 after acquiring an additional 64 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Lumentum by 58.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 205 shares of the technology company's stock valued at $76,000 after acquiring an additional 76 shares in the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in Lumentum during the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Insiders Place Their Bets

In related news, Director Brian Lillie sold 11,951 shares of the business's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $981.64, for a total transaction of $11,731,579.64. Following the sale, the director owned 13,959 shares of the company's stock, valued at $13,702,712.76. The trade was a 46.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Wajid Ali sold 5,302 shares of the business's stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $691.13, for a total transaction of $3,664,371.26. Following the sale, the chief financial officer directly owned 66,287 shares in the company, valued at $45,812,934.31. The trade was a 7.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 36,192 shares of company stock worth $33,367,059. Company insiders own 0.43% of the company's stock.

More Lumentum News

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Lumentum was added to the Nasdaq-100, a move that can attract buying from index funds and ETFs and broaden institutional ownership. Lumentum (LITE) Joins Nasdaq-100 Index
• Positive Sentiment: Zacks highlighted Lumentum as one of its top momentum stocks and a Zacks Rank #1 (Strong Buy), reinforcing the bullish momentum narrative. Are You Looking for a Top Momentum Pick? Why Lumentum (LITE) is a Great Choice
• Positive Sentiment: Analyst coverage remains constructive, with multiple firms lifting price targets and several reports pointing to demand tied to AI infrastructure and data center optics. 3 Stocks Backed By Broker Rating Upgrades Worth Betting On
• Positive Sentiment: Recent bullish commentary says Lumentum’s photonic products are benefiting from strong AI and data center demand, with capacity constraints supporting revenue and margin expansion. Lumentum: Priced For Growth, But Not For What Comes Next - Double Growth Cycles
• Positive Sentiment: The company’s last earnings report beat EPS expectations and included strong year-over-year revenue growth, supporting the growth story behind the stock. Lumentum stock details and earnings summary

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LITE. Loop Capital boosted their price objective on shares of Lumentum from $900.00 to $1,400.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Stifel Nicolaus boosted their price objective on shares of Lumentum from $800.00 to $1,100.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Craig Hallum boosted their price objective on shares of Lumentum from $900.00 to $1,150.00 in a research note on Wednesday, May 6th. Northland Securities set a $1,000.00 price objective on shares of Lumentum in a research note on Monday, April 20th. Finally, TD Cowen boosted their price target on shares of Lumentum from $875.00 to $995.00 and gave the stock a "hold" rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,012.43.

Lumentum Trading Down 2.5%

NASDAQ:LITE opened at $868.07 on Thursday. The company has a fifty day moving average of $825.82 and a 200 day moving average of $551.93. Lumentum Holdings Inc. has a 52 week low of $71.04 and a 52 week high of $1,085.68. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $67.54 billion, a P/E ratio of 160.75 and a beta of 1.53.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, beating analysts' consensus estimates of $2.27 by $0.10. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The company had revenue of $808.40 million during the quarter, compared to analyst estimates of $810.21 million. During the same period in the prior year, the business posted $0.57 EPS. The firm's revenue was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, research analysts predict that Lumentum Holdings Inc. will post 6.49 earnings per share for the current year.

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.

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.