Amanah Holdings Trust Makes New Investment in Lumentum Holdings Inc. $LITE

Amanah Holdings Trust acquired a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 135,000 shares of the technology company’s stock, valued at approximately $49,760,000. Lumentum accounts for 7.3% of Amanah Holdings Trust’s holdings, making the stock its 6th biggest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Virtu Financial LLC acquired a new position in shares of Lumentum during the 4th quarter worth approximately $4,258,000. Compound Planning Inc. acquired a new stake in Lumentum in the 4th quarter valued at $694,000. Axxcess Wealth Management LLC acquired a new stake in Lumentum in the 4th quarter valued at $3,669,000. Corient Private Wealth LLC grew its stake in Lumentum by 52.1% in the 4th quarter. Corient Private Wealth LLC now owns 4,089 shares of the technology company’s stock valued at $1,507,000 after acquiring an additional 1,400 shares during the period. Finally, Alberta Investment Management Corp purchased a new stake in Lumentum in the 4th quarter worth $5,713,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Lumentum

In other news, Director Isaac Hosojiro Harris sold 1,416 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total transaction of $1,416,113.28. Following the transaction, the director directly owned 6,984 shares in the company, valued at $6,984,558.72. The trade was a 16.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vincent Retort sold 3,183 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 $3,036,422.85. Following the transaction, the insider owned 89,563 shares in the company, valued at approximately $85,438,623.85. This represents a 3.43% 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. 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. 0.43% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on LITE shares. Mizuho set a $1,100.00 price objective on shares of Lumentum in a research report on Wednesday, May 6th. B. Riley Financial reiterated a “buy” rating on shares of Lumentum in a research report on Friday, May 1st. Stifel Nicolaus boosted their target price on shares of Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. UBS Group upped their price target on shares of Lumentum from $455.00 to $960.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, Citigroup raised their price target on shares of Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Lumentum currently has an average rating of “Moderate Buy” and an average price target of $1,021.95.

Lumentum Price Performance

Lumentum stock opened at $850.00 on Friday. Lumentum Holdings Inc. has a 52-week low of $86.63 and a 52-week high of $1,085.68. The firm has a market capitalization of $66.13 billion, a price-to-earnings ratio of 157.41 and a beta of 1.47. The company has a fifty day simple moving average of $903.86 and a 200-day simple moving average of $648.37. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01.

Lumentum (NASDAQ:LITE) last issued its 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 business had revenue of $808.40 million during the quarter, compared to analysts’ expectations of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The company’s quarterly revenue was up 90.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, equities analysts anticipate that Lumentum Holdings Inc. will post 6.4 EPS for the current fiscal year.

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.