Allianz SE Purchases 21,685 Shares of Lumentum Holdings Inc. $LITE

Allianz SE increased its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 309.8% during the third quarter, HoldingsChannel.com reports. The fund owned 28,685 shares of the technology company’s stock after acquiring an additional 21,685 shares during the period. Allianz SE’s holdings in Lumentum were worth $4,667,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Federated Hermes Inc. raised its position in shares of Lumentum by 7,168.8% in the third quarter. Federated Hermes Inc. now owns 362,352 shares of the technology company’s stock worth $58,958,000 after buying an additional 357,367 shares in the last quarter. FengHe Fund Management Pte. Ltd. bought a new position in Lumentum in the 3rd quarter worth about $71,771,000. Pacer Advisors Inc. purchased a new stake in shares of Lumentum in the 3rd quarter valued at about $1,512,000. Braun Stacey Associates Inc. purchased a new stake in shares of Lumentum in the 3rd quarter valued at about $15,125,000. Finally, China Universal Asset Management Co. Ltd. bought a new stake in shares of Lumentum during the 3rd quarter valued at about $1,383,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Penny Herscher sold 4,849 shares of Lumentum stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $535.48, for a total value of $2,596,542.52. Following the completion of the transaction, the director owned 6,057 shares of the company’s stock, valued at $3,243,402.36. The trade was a 44.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Yuen Wupen sold 3,157 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $538.00, for a total transaction of $1,698,466.00. Following the completion of the transaction, the insider owned 88,439 shares in the company, valued at approximately $47,580,182. The trade was a 3.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 60,473 shares of company stock worth $35,186,972. 0.43% of the stock is owned by corporate insiders.

Lumentum Stock Performance

Shares of NASDAQ:LITE opened at $700.91 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.45 and a debt-to-equity ratio of 0.06. Lumentum Holdings Inc. has a 12 month low of $45.65 and a 12 month high of $765.00. The company has a 50-day moving average price of $454.79 and a 200-day moving average price of $291.42. The company has a market cap of $50.04 billion, a price-to-earnings ratio of 215.00 and a beta of 1.51.

Lumentum (NASDAQ:LITE) last posted its earnings results on Tuesday, February 3rd. The technology company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.26. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.The firm had revenue of $665.50 million for the quarter, compared to the consensus estimate of $646.74 million. During the same quarter in the prior year, the business earned $0.42 EPS. The business’s revenue for the quarter was up 65.5% on a year-over-year basis. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. As a group, equities analysts anticipate that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LITE. Needham & Company LLC raised their target price on shares of Lumentum to $550.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. Rosenblatt Securities increased their price target on shares of Lumentum to $580.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. JPMorgan Chase & Co. raised their price objective on shares of Lumentum to $565.00 and gave the company an “overweight” rating in a research report on Wednesday, February 4th. Wolfe Research reaffirmed an “outperform” rating and set a $240.00 price objective on shares of Lumentum in a report on Wednesday, November 5th. Finally, Susquehanna upped their target price on shares of Lumentum to $550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Lumentum has an average rating of “Moderate Buy” and a consensus price target of $458.00.

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.