E. Ohman J or Asset Management AB Takes Position in Lumentum Holdings Inc. $LITE

E. Ohman J or Asset Management AB acquired a new position in Lumentum Holdings Inc. (NASDAQ:LITE) during the 1st quarter, HoldingsChannel.com reports. The firm acquired 2,400 shares of the technology company’s stock, valued at approximately $1,687,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in Lumentum by 363.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock valued at $27,000 after acquiring an additional 131 shares during the period. V Square Quantitative Management LLC purchased a new position in Lumentum in the 4th quarter worth approximately $28,000. Truvestments Capital LLC increased its stake in Lumentum by 300.0% in the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock worth $28,000 after purchasing an additional 57 shares during the period. Triumph Capital Management purchased a new position in Lumentum in the 4th quarter worth approximately $30,000. Finally, Danske Bank A S bought a new stake in Lumentum in the third quarter valued at approximately $33,000. Institutional investors own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LITE. Northland Securities increased their price objective on Lumentum from $1,000.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,040.00 target price on shares of Lumentum in a research note on Tuesday, June 9th. Loop Capital upped their price target on shares of Lumentum from $900.00 to $1,400.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Jefferies Financial Group reiterated a “buy” rating and set a $1,200.00 price target on shares of Lumentum in a report on Wednesday, May 6th. Finally, BNP Paribas Exane increased their price target on shares of Lumentum from $1,040.00 to $1,300.00 in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Lumentum has an average rating of “Moderate Buy” and an average target price of $1,021.95.

Lumentum Stock Performance

LITE opened at $850.00 on Monday. The business has a 50 day simple moving average of $902.94 and a two-hundred day simple moving average of $652.12. 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 debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. Lumentum Holdings Inc. has a one year low of $86.63 and a one year high of $1,085.68.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 24.81% and a net margin of 17.61%.The business’s revenue was up 90.1% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Analysts predict that Lumentum Holdings Inc. will post 6.4 EPS for the current year.

Insider Activity at Lumentum

In related news, insider Yuen Wupen sold 3,210 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 $3,062,179.50. Following the completion of the sale, the insider owned 81,488 shares of the company’s stock, valued at $77,735,477.60. This trade represents a 3.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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, insider Vincent Retort sold 3,183 shares of Lumentum stock in a transaction on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $3,036,422.85. Following the completion of the sale, the insider owned 89,563 shares in the company, valued at approximately $85,438,623.85. This trade represents a 3.43% 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. 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 valued at $38,859,220 over the last 90 days. 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.