SEB Asset Management AB Acquires Shares of 14,288 Lumentum Holdings Inc. $LITE

Key Points

• SEB Asset Management AB initiated a new position in Lumentum Holdings, buying 14,288 shares worth about $10.0 million in the first quarter.
• Institutional ownership in Lumentum remains extremely high at 94.05%, and several other funds also recently added or significantly increased their stakes.
• Lumentum reported strong quarterly results, with EPS of $2.37 topping estimates and revenue up 90.1% year over year, while analysts keep the stock at a Moderate Buy with an average target price of $1,012.67.

SEB Asset Management AB bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,288 shares of the technology company's stock, valued at approximately $10,041,000.

Several other institutional investors and hedge funds also recently made changes to their positions in LITE. Arrowstreet Capital Limited Partnership boosted its position in shares of Lumentum by 8,579.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company's stock worth $254,350,000 after purchasing an additional 1,545,199 shares during the last quarter. Norges Bank bought a new stake in Lumentum in the fourth quarter valued at about $474,495,000. Value Aligned Research Advisors LLC bought a new stake in Lumentum in the fourth quarter valued at about $432,062,000. Situational Awareness LP lifted its stake in Lumentum by 210.9% in the fourth quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company's stock valued at $478,577,000 after buying an additional 880,800 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in Lumentum by 707.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company's stock valued at $366,555,000 after buying an additional 871,249 shares during the period. Institutional investors own 94.05% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LITE. TD Cowen decreased their target price on Lumentum from $995.00 to $800.00 and set a "hold" rating for the company in a research report on Monday, July 13th. Northland Securities upped their price target on Lumentum from $1,000.00 to $1,200.00 and gave the company an "outperform" rating in a research note on Wednesday, June 3rd. BNP Paribas Exane increased their price target on shares of Lumentum from $1,040.00 to $1,300.00 in a research report on Wednesday, May 6th. Rosenblatt Securities lifted their price objective on shares of Lumentum from $900.00 to $1,300.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Finally, Mizuho set a $1,100.00 price objective on shares of Lumentum in a report on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, Lumentum has an average rating of "Moderate Buy" and an average target price of $1,012.67.

Insiders Place Their Bets

In other Lumentum news, CFO Wajid Ali sold 2,487 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $2,372,473.65. Following the sale, the chief financial officer owned 60,951 shares in the company, valued at approximately $58,144,206.45. The trade was a 3.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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, insider Vincent Retort sold 3,183 shares of the company's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $3,036,422.85. Following the transaction, the insider directly owned 89,563 shares of the company's stock, valued at approximately $85,438,623.85. This trade represents a 3.43% decrease in their position. The SEC filing for this sale provides additional information. 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. Company insiders own 0.43% of the company's stock.

Lumentum Stock Performance

LITE opened at $765.55 on Tuesday. The business's 50-day moving average price is $859.31 and its two-hundred day moving average price is $715.91. Lumentum Holdings Inc. has a 1 year low of $97.55 and a 1 year high of $1,085.68. The company has a market capitalization of $59.56 billion, a price-to-earnings ratio of 141.77 and a beta of 1.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97.

Lumentum (NASDAQ:LITE - Get Free Report) last issued 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. The company had revenue of $808.40 million for the quarter, compared to analyst estimates of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The company's quarterly revenue was up 90.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Equities analysts expect that Lumentum Holdings Inc. will post 6.42 EPS for the current fiscal year.

Lumentum Company Profile

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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