Russell Investments Group Ltd. Acquires 29,259 Shares of Lumentum Holdings Inc. $LITE

Key Points

• Russell Investments Group Ltd. increased its stake in Lumentum Holdings Inc. by 58.5%, acquiring an additional 29,259 shares during Q1, bringing their total ownership to 79,276 shares valued at approximately $4.94 million.
• Insider trading activity was noted, with SVP Jae Kim and Director Alan S. Lowe selling shares worth over $1.97 million collectively in recent months.
• Lumentum's stock has experienced a recent uptick, with a price increase of 1.3%, and has received multiple analyst upgrades, now having a price target range between $83.00 and $145.00 from various equity firms.

Russell Investments Group Ltd. increased its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 58.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 79,276 shares of the technology company's stock after acquiring an additional 29,259 shares during the quarter. Russell Investments Group Ltd. owned about 0.11% of Lumentum worth $4,942,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of LITE. Nuveen Asset Management LLC increased its position in Lumentum by 98.9% during the fourth quarter. Nuveen Asset Management LLC now owns 1,228,371 shares of the technology company's stock worth $103,122,000 after acquiring an additional 610,938 shares during the period. Balyasny Asset Management L.P. increased its position in Lumentum by 419.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 444,147 shares of the technology company's stock worth $37,286,000 after acquiring an additional 583,330 shares during the period. Nuveen LLC bought a new position in Lumentum during the first quarter worth about $27,054,000. Woodline Partners LP lifted its position in Lumentum by 377.7% during the fourth quarter. Woodline Partners LP now owns 282,055 shares of the technology company's stock worth $23,679,000 after purchasing an additional 223,011 shares during the period. Finally, Lightrock Netherlands B.V. lifted its position in Lumentum by 135.4% during the first quarter. Lightrock Netherlands B.V. now owns 353,456 shares of the technology company's stock worth $22,071,000 after purchasing an additional 203,300 shares during the period. 94.05% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Jae Kim sold 912 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $116.45, for a total value of $106,202.40. Following the completion of the transaction, the senior vice president owned 29,820 shares of the company's stock, valued at $3,472,539. This represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Alan S. Lowe sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $93.47, for a total value of $1,869,400.00. Following the completion of the transaction, the director directly owned 230,471 shares of the company's stock, valued at $21,542,124.37. This represents a 7.98% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,313 shares of company stock valued at $7,777,835. Corporate insiders own 0.19% of the company's stock.

Lumentum Stock Up 1.3%

Shares of NASDAQ LITE opened at $117.43 on Friday. The company has a current ratio of 4.37, a quick ratio of 3.18 and a debt-to-equity ratio of 2.26. The company has a market cap of $8.21 billion, a price-to-earnings ratio of 510.57 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 stock has a 50-day moving average price of $101.36 and a two-hundred day moving average price of $79.80.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LITE shares. JPMorgan Chase & Co. upped their price objective on shares of Lumentum from $123.00 to $145.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. KGI Securities started coverage on shares of Lumentum in a research report on Monday. They set an "outperform" rating for the company. Stifel Nicolaus upped their price objective on shares of Lumentum from $100.00 to $132.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. B. Riley upped their price objective on shares of Lumentum from $73.00 to $83.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 13th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $145.00 price objective (up previously from $135.00) on shares of Lumentum in a research report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $122.85.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.