OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys New Shares in Lumentum Holdings Inc. $LITE

Key Points

• OCONNOR, a UBS Asset Management unit, opened a new position in Lumentum Holdings, buying 3,083 shares valued at about $1.136 million in the fourth quarter.
• Institutional ownership in Lumentum remains very high at 94.05%, and several other funds also added stakes during the period.
• Analysts are broadly bullish on the stock, with an average rating of Moderate Buy and an average price target of $1,021.95; Lumentum also beat earnings estimates in its latest quarter and issued upbeat guidance.

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 3,083 shares of the technology company's stock, valued at approximately $1,136,000.

Other hedge funds have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. increased its stake in Lumentum by 45.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company's stock worth $136,306,000 after purchasing an additional 114,714 shares during the period. Andar Capital Management HK Ltd bought a new stake in Lumentum in the fourth quarter valued at approximately $4,325,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Lumentum during the fourth quarter valued at approximately $6,755,000. Headwater Capital Co Ltd purchased a new stake in shares of Lumentum during the third quarter valued at approximately $20,339,000. Finally, Maxi Investments CY Ltd bought a new position in shares of Lumentum in the fourth quarter worth approximately $2,212,000. 94.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on LITE shares. UBS Group lifted their target price on shares of Lumentum from $455.00 to $960.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Northland Securities increased their price target on shares of Lumentum from $1,000.00 to $1,200.00 and gave the company an "outperform" rating in a research report on Wednesday, June 3rd. Citic Securities raised their price target on shares of Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. B. Riley Financial restated a "buy" rating on shares of Lumentum in a research report on Friday, May 1st. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $1,014.00 price objective on shares of Lumentum in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,021.95.

Insider Buying and Selling

In other Lumentum news, insider Vincent Retort sold 3,183 shares of the firm's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $3,036,422.85. Following the completion of the sale, the insider directly owned 89,563 shares in the company, valued at $85,438,623.85. This trade represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 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. Also, Director Brian Lillie sold 11,951 shares of Lumentum stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $981.64, for a total value of $11,731,579.64. Following the sale, the director directly owned 13,959 shares in the company, valued at approximately $13,702,712.76. The trade was a 46.13% 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. Insiders sold 41,260 shares of company stock valued at $38,859,220 over the last quarter. 0.43% of the stock is currently owned by insiders.

Lumentum Price Performance

Shares of Lumentum stock opened at $850.00 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a 12-month low of $86.63 and a 12-month high of $1,085.68. The company has a market cap of $66.13 billion, a P/E ratio of 157.41 and a beta of 1.47. The company's fifty day simple moving average is $902.94 and its two-hundred day simple moving average is $649.78.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.27 by $0.10. The firm had revenue of $808.40 million during the quarter, compared to analysts' expectations of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The company's quarterly revenue was up 90.1% compared to the same quarter last year. During the same period last year, the company posted $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Research analysts anticipate that Lumentum Holdings Inc. will post 6.4 EPS 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.

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