Pictet Asset Management Holding SA Buys 24,692 Shares of Lumentum Holdings Inc. $LITE

Key Points

• Pictet Asset Management Holding SA increased its stake in Lumentum by 232.4% in the first quarter, adding 24,692 shares to bring its total holding to 35,316 shares worth about $24.8 million.
• Institutional ownership is very high, with hedge funds and other institutional investors owning about 94.05% of Lumentum’s shares. Several large investors also boosted positions substantially during recent quarters.
• Lumentum reported a strong quarter, posting $2.37 EPS and 90.1% revenue growth year over year, while analysts maintain a Moderate Buy consensus with an average target price of $1,021.95.

Pictet Asset Management Holding SA lifted its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 232.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,316 shares of the technology company's stock after purchasing an additional 24,692 shares during the quarter. Pictet Asset Management Holding SA's holdings in Lumentum were worth $24,810,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership grew its stake in Lumentum by 8,579.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company's stock valued at $254,350,000 after acquiring an additional 1,545,199 shares in the last quarter. Norges Bank purchased a new position in shares of Lumentum during the 4th quarter valued at $474,495,000. Value Aligned Research Advisors LLC bought a new position in shares of Lumentum in the fourth quarter worth $432,062,000. Situational Awareness LP raised its position in shares of Lumentum by 210.9% in the fourth quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company's stock worth $478,577,000 after buying an additional 880,800 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Lumentum by 707.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company's stock worth $366,555,000 after buying an additional 871,249 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. TD Cowen boosted their target price on Lumentum from $875.00 to $995.00 and gave the stock a "hold" rating in a research report on Wednesday, May 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Lumentum in a research report on Tuesday, April 21st. JPMorgan Chase & Co. boosted their price objective on Lumentum from $950.00 to $1,130.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Barclays upped their price objective on shares of Lumentum from $750.00 to $1,000.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 6th. Finally, B. Riley Financial reiterated a "buy" rating on shares of Lumentum in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,021.95.

Lumentum Price Performance

Shares of Lumentum stock opened at $801.16 on Thursday. The firm has a market capitalization of $62.33 billion, a PE ratio of 148.36 and a beta of 1.48. 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 $88.37 and a 12 month high of $1,085.68. The business's 50-day moving average price is $897.63 and its 200-day moving average price is $680.63.

Lumentum (NASDAQ:LITE - Get Free Report) last released its earnings results 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. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The company had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. During the same quarter in the previous year, the company posted $0.57 EPS. Lumentum's quarterly 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. Sell-side analysts forecast that Lumentum Holdings Inc. will post 6.4 EPS for the current fiscal year.

Insider Activity at Lumentum

In related news, Director Ian Small sold 4,954 shares of Lumentum stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $868.07, for a total value of $4,300,418.78. Following the transaction, the director owned 21,008 shares in the company, valued at $18,236,414.56. This trade represents a 19.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Yuen Wupen sold 3,210 shares of the business's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $3,062,179.50. Following the completion of the sale, the insider directly owned 81,488 shares of the company's stock, valued at $77,735,477.60. This represents a 3.79% decrease in their ownership of the stock. 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. Insiders have sold 41,260 shares of company stock worth $38,859,220 in the last 90 days. Corporate insiders own 0.43% of the company's stock.

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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