Triglav Investments D.O.O. Invests $2.94 Million in Lumentum Holdings Inc. $LITE

Key Points

• Triglav Investments D.O.O. opened a new position in Lumentum Holdings during the first quarter, buying 4,191 shares valued at about $2.94 million.
• Institutional ownership in Lumentum remains very high, with 94.05% of the stock held by hedge funds and other institutions. Several other funds also increased or initiated positions in the company recently.
• Lumentum posted strong quarterly results, beating EPS expectations and reporting 90.1% revenue growth year over year. Analysts remain mostly positive, with a consensus Moderate Buy rating and an average price target of $1,021.95.

Triglav Investments D.O.O. purchased a new position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,191 shares of the technology company's stock, valued at approximately $2,945,000.

Several other institutional investors also recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its stake in shares of Lumentum by 36.8% in the first quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company's stock worth $59,000 after buying an additional 254 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Lumentum by 109.9% during the first quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company's stock valued at $747,000 after acquiring an additional 6,275 shares in the last quarter. Empowered Funds LLC raised its holdings in Lumentum by 9.1% in the 1st quarter. Empowered Funds LLC now owns 8,139 shares of the technology company's stock worth $507,000 after acquiring an additional 680 shares during the last quarter. Hsbc Holdings PLC purchased a new position in Lumentum in the 2nd quarter worth approximately $298,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in Lumentum in the 2nd quarter valued at approximately $1,712,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Zacks Research downgraded Lumentum from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. Morgan Stanley increased their price objective on Lumentum from $710.00 to $900.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 6th. Needham & Company LLC reissued a "buy" rating and issued a $1,040.00 target price on shares of Lumentum in a research report on Tuesday, June 9th. UBS Group raised their price target on shares of Lumentum from $455.00 to $960.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. Finally, Northland Securities boosted their price objective on shares of Lumentum from $1,000.00 to $1,200.00 and gave the company an "outperform" rating in a report on Wednesday, June 3rd. Fourteen analysts have rated the stock with a Buy rating and seven 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 a consensus price target of $1,021.95.

Lumentum Price Performance

Shares of NASDAQ:LITE opened at $802.01 on Monday. The firm's 50 day moving average price is $882.31 and its 200-day moving average price is $700.26. Lumentum Holdings Inc. has a twelve month low of $90.98 and a twelve month high of $1,085.68. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $62.40 billion, a PE ratio of 148.52 and a beta of 1.48.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.27 by $0.10. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The company had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. During the same quarter last year, the firm posted $0.57 earnings per share. The firm's 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. Equities research analysts expect that Lumentum Holdings Inc. will post 6.4 EPS for the current year.

Insider Activity

In related news, insider Vincent Retort sold 3,183 shares of the firm's stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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, Director Isaac Hosojiro Harris sold 1,416 shares of Lumentum stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $1,000.08, for a total value of $1,416,113.28. Following the transaction, the director owned 6,984 shares in the company, valued at $6,984,558.72. This trade represents a 16.86% 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. Over the last 90 days, insiders have sold 41,260 shares of company stock worth $38,859,220. Company 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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