Quantitative Investment Management LLC Takes $1.42 Million Position in Lumentum Holdings Inc. $LITE

Key Points

• Quantitative Investment Management LLC acquired a new stake in Lumentum Holdings Inc., purchasing 22,844 shares valued at approximately $1.42 million in the first quarter.
• Lumentum reported earnings of $0.88 per share, exceeding analysts' estimates, along with significant revenue growth of 55.9% year-over-year, totaling $480.70 million for the quarter.
• Analysts have a consensus rating of "Moderate Buy" for Lumentum shares, with an average price target of $122.85 after various price adjustments from leading financial institutions.

Quantitative Investment Management LLC acquired a new stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 22,844 shares of the technology company's stock, valued at approximately $1,424,000.

Several other hedge funds have also recently bought and sold shares of LITE. Nuveen Asset Management LLC lifted its position in Lumentum by 98.9% in the 4th quarter. Nuveen Asset Management LLC now owns 1,228,371 shares of the technology company's stock valued at $103,122,000 after purchasing an additional 610,938 shares during the last quarter. Channing Capital Management LLC acquired a new stake in shares of Lumentum in the 1st quarter worth approximately $36,715,000. Balyasny Asset Management L.P. boosted its holdings in shares of Lumentum by 419.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 444,147 shares of the technology company's stock valued at $37,286,000 after acquiring an additional 583,330 shares in the last quarter. Nuveen LLC bought a new position in shares of Lumentum in the first quarter valued at approximately $27,054,000. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Lumentum by 26.9% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,063,529 shares of the technology company's stock valued at $66,300,000 after acquiring an additional 225,240 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

Lumentum Stock Performance

LITE stock opened at $119.34 on Monday. The company has a quick ratio of 3.18, a current ratio of 4.37 and a debt-to-equity ratio of 2.26. The company has a market capitalization of $8.34 billion, a price-to-earnings ratio of 518.87 and a beta of 1.33. Lumentum Holdings Inc. has a 12 month low of $45.65 and a 12 month high of $129.98. The firm has a 50 day moving average of $102.10 and a two-hundred day moving average of $79.88.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The technology company reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.09. The business had revenue of $480.70 million during the quarter, compared to analysts' expectations of $465.27 million. Lumentum had a net margin of 1.57% and a negative return on equity of 3.02%. Lumentum's revenue for the quarter was up 55.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.06 earnings per share. Lumentum has set its Q1 2026 guidance at 0.950-1.100 EPS. As a group, equities analysts anticipate that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on LITE shares. Rosenblatt Securities reissued a "buy" rating and issued a $150.00 price objective on shares of Lumentum in a research note on Thursday, August 14th. Morgan Stanley lifted their price objective on shares of Lumentum from $92.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 13th. Wall Street Zen raised shares of Lumentum from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Wolfe Research initiated coverage on shares of Lumentum in a research report on Tuesday, August 12th. They issued an "outperform" rating on the stock. Finally, Bank of America upgraded shares of Lumentum from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $78.00 to $135.00 in a research report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $122.85.

Insider Activity

In related news, insider Vincent Retort sold 22,719 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $110.00, for a total transaction of $2,499,090.00. Following the completion of the transaction, the insider directly owned 121,747 shares in the company, valued at $13,392,170. This represents a 15.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Wajid Ali sold 2,222 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $83.58, for a total transaction of $185,714.76. Following the transaction, the chief financial officer owned 47,460 shares of the company's stock, valued at approximately $3,966,706.80. The trade was a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,313 shares of company stock worth $7,777,835. Corporate insiders own 0.19% of the company's stock.

Lumentum Company Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.

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