VIRGINIA RETIREMENT SYSTEMS ET Al Increases Position in Lumentum Holdings Inc. $LITE

Key Points

• Virginia Retirement Systems boosted its Lumentum stake by 355.3% in the fourth quarter, while several other institutional investors also significantly increased holdings. Overall, hedge funds and other institutions own 94.05% of the stock.
• Lumentum reported strong quarterly results, with EPS of $2.37 beating estimates and revenue rising 90.1% year over year to $808.4 million. The company also issued Q4 2026 EPS guidance of 2.85 to 3.05.
• Analysts have turned increasingly upbeat on LITE, with multiple firms raising price targets and the consensus rating sitting at Moderate Buy with a $1,012.43 target. Recent catalysts include Lumentum being added to the Nasdaq-100 and upgraded to Zacks Rank #1 (Strong Buy).

VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 355.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,740 shares of the technology company's stock after purchasing an additional 6,040 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Lumentum were worth $2,853,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of LITE. Arrowstreet Capital Limited Partnership increased 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 valued at $254,350,000 after purchasing an additional 1,545,199 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Lumentum by 707.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company's stock valued at $366,555,000 after purchasing an additional 871,249 shares during the last quarter. Holocene Advisors LP purchased a new stake in shares of Lumentum in the 3rd quarter valued at approximately $136,401,000. WT Asset Management Ltd increased its position in shares of Lumentum by 170.0% in the 3rd quarter. WT Asset Management Ltd now owns 710,208 shares of the technology company's stock valued at $115,558,000 after purchasing an additional 447,208 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Lumentum by 7,168.8% in the 3rd quarter. Federated Hermes Inc. now owns 362,352 shares of the technology company's stock valued at $58,958,000 after purchasing an additional 357,367 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lumentum

In other Lumentum news, Director Brian Lillie sold 11,951 shares of the firm's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $981.64, for a total transaction of $11,731,579.64. Following the transaction, the director directly owned 13,959 shares of the company's stock, valued at approximately $13,702,712.76. This trade represents a 46.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vincent Retort sold 3,441 shares of the firm's stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $545.78, for a total transaction of $1,878,028.98. Following the transaction, the insider directly owned 95,975 shares in the company, valued at $52,381,235.50. The trade was a 3.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 29,333 shares of company stock worth $24,049,017 in the last three months. Company insiders own 0.43% of the company's stock.

Lumentum Trading Down 2.8%

NASDAQ LITE opened at $1,001.81 on Friday. Lumentum Holdings Inc. has a 12 month low of $71.04 and a 12 month high of $1,085.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. The company has a market capitalization of $77.94 billion, a price-to-earnings ratio of 185.52 and a beta of 1.53. The firm's fifty day moving average price is $804.16 and its 200 day moving average price is $532.16.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the firm posted $0.57 EPS. Lumentum's revenue for the quarter was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, sell-side analysts expect that Lumentum Holdings Inc. will post 6.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on LITE shares. Morgan Stanley increased their price objective on shares of Lumentum from $710.00 to $900.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. increased their target price on shares of Lumentum from $950.00 to $1,130.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $1,200.00 target price on shares of Lumentum in a research report on Wednesday, May 6th. TD Cowen increased their target price on shares of Lumentum from $875.00 to $995.00 and gave the company a "hold" rating in a research report on Wednesday, May 6th. Finally, Craig Hallum increased their target price on shares of Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,012.43.

Key Stories Impacting Lumentum

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Lumentum was added to the Nasdaq-100, which can trigger buying from index funds and boost visibility with large institutional investors. Lumentum Joins the Nasdaq-100 Index®, Achieving New Milestone in Global Growth
• Positive Sentiment: Lumentum was upgraded to Zacks Rank #1 (Strong Buy), reflecting improving earnings expectations and reinforcing momentum-buying interest. What Makes Lumentum (LITE) a New Strong Buy Stock
• Positive Sentiment: Commentary highlighted that Lumentum’s Components business is accelerating, with AI optics demand surging and key products sold out, suggesting stronger revenue potential ahead. Lumentum's Components Business Accelerates: More Upside Ahead?
• Positive Sentiment: Northland Securities raised earnings estimates for Lumentum, adding to the view that the company’s profit outlook is improving. Lumentum stock report
• Neutral Sentiment: Recent coverage also notes that Lumentum’s strong rally has pushed the stock to fresh highs, which can attract momentum buyers but also raise valuation questions.
• Neutral Sentiment: Insider selling was reported this week, but the transactions were made under pre-arranged trading plans, so they appear less likely to signal a major change in fundamentals.

Lumentum 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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