VIRGINIA RETIREMENT SYSTEMS ET Al Takes $17.85 Million Position in Lumentum Holdings Inc. $LITE

Key Points

• Virginia Retirement Systems acquired 20,800 Lumentum shares worth approximately $17.85 million during the second quarter. Institutional investors collectively own 94.05% of the company.
• Lumentum insiders sold 65,147 shares worth about $55.8 million over the past three months, including sales by two executives conducted under pre-arranged Rule 10b5-1 plans.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $1,053.83 price target. Lumentum recently exceeded quarterly earnings and revenue estimates, reporting $3.23 in EPS and $1.01 billion in revenue.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 20,800 shares of the technology company's stock, valued at approximately $17,848,000.

Other large investors also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. grew its holdings in Lumentum by 45.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company's stock worth $136,306,000 after acquiring an additional 114,714 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Lumentum in the first quarter valued at $2,046,000. Styrax Capital LP raised its stake in Lumentum by 3.6% in the first quarter. Styrax Capital LP now owns 140,000 shares of the technology company's stock valued at $98,386,000 after buying an additional 4,837 shares in the last quarter. Whittier Trust Co. raised its stake in Lumentum by 21,806.5% in the first quarter. Whittier Trust Co. now owns 74,044 shares of the technology company's stock valued at $57,183,000 after buying an additional 73,706 shares in the last quarter. Finally, Andar Capital Management HK Ltd purchased a new stake in Lumentum during the 4th quarter worth about $4,325,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Insider Buying and Selling at Lumentum

In other news, SVP Jae Kim sold 12,000 shares of the company's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $852.58, for a total value of $10,230,960.00. Following the completion of the sale, the senior vice president directly owned 37,804 shares of the company's stock, valued at approximately $32,230,934.32. This represents a 24.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vincent Retort sold 38,663 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $852.59, for a total transaction of $32,963,687.17. Following the sale, the insider owned 78,440 shares of the company's stock, valued at $66,877,159.60. This trade represents a 33.02% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 65,147 shares of company stock valued at $55,812,856. Company insiders own 0.43% of the company's stock.

Analysts Set New Price Targets

LITE has been the topic of a number of recent analyst reports. Weiss Ratings downgraded Lumentum from a "hold (c-)" rating to a "sell (d-)" rating in a report on Wednesday, August 19th. Raymond James Financial restated an "outperform" rating and set a $1,036.00 target price on shares of Lumentum in a research note on Wednesday, August 12th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $1,300.00 price target on shares of Lumentum in a report on Wednesday, August 12th. Needham & Company LLC reiterated a "buy" rating and issued a $1,040.00 price target on shares of Lumentum in a research note on Wednesday, August 12th. Finally, TD Cowen raised their price objective on shares of Lumentum from $800.00 to $820.00 and gave the stock a "hold" rating in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Lumentum presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,053.83.

Lumentum Stock Performance

Shares of LITE opened at $881.26 on Tuesday. The company's 50 day simple moving average is $815.21 and its 200-day simple moving average is $819.50. The firm has a market cap of $79.05 billion, a PE ratio of -10.72 and a beta of 1.53. Lumentum Holdings Inc. has a 12-month low of $144.20 and a 12-month high of $1,085.68. The company has a current ratio of 1.68, a quick ratio of 1.40 and a debt-to-equity ratio of 0.01.

Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The technology company reported $3.23 EPS for the quarter, beating the consensus estimate of $2.97 by $0.26. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $987.70 million. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. Lumentum's revenue for the quarter was up 109.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 EPS. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. As a group, equities analysts predict that Lumentum Holdings Inc. will post 19.78 EPS for the current 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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