Citizens Financial Group Inc. RI Takes $598,000 Position in Lumentum Holdings Inc. $LITE

Citizens Financial Group Inc. RI acquired a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 851 shares of the technology company’s stock, valued at approximately $598,000.

A number of other large investors also recently modified their holdings of the company. Hilton Head Capital Partners LLC bought a new position in Lumentum during the first quarter valued at approximately $25,000. Sachetta LLC raised its stake in shares of Lumentum by 118.8% during the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after acquiring an additional 19 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Lumentum in the 4th quarter worth approximately $28,000. Truvestments Capital LLC lifted its holdings in shares of 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 acquiring an additional 57 shares during the last quarter. Finally, Triumph Capital Management purchased a new stake in shares of Lumentum in the 4th quarter valued at $30,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Lumentum Trading Down 7.7%

NASDAQ LITE opened at $752.00 on Thursday. The stock has a market cap of $58.51 billion, a P/E ratio of 139.26 and a beta of 1.48. Lumentum Holdings Inc. has a fifty-two week low of $95.18 and a fifty-two week high of $1,085.68. The stock has a 50 day simple moving average of $872.19 and a two-hundred day simple moving average of $708.38. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14.

Lumentum (NASDAQ:LITE) last posted its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.10. The firm had revenue of $808.40 million for 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, analysts forecast that Lumentum Holdings Inc. will post 6.4 earnings per share for the current year.

Insiders Place Their Bets

In other Lumentum news, CFO Wajid Ali sold 2,487 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $2,372,473.65. Following the transaction, the chief financial officer directly owned 60,951 shares of the company’s stock, valued at approximately $58,144,206.45. The trade was a 3.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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, Director Isaac Hosojiro Harris sold 1,416 shares of the company’s stock in a transaction 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 completion of the transaction, the director owned 6,984 shares of the company’s stock, valued at $6,984,558.72. This trade represents a 16.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 41,260 shares of company stock valued at $38,859,220 over the last quarter. 0.43% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on LITE shares. Citic Securities increased their target price on shares of Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. UBS Group boosted their price target on shares of Lumentum from $455.00 to $960.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Craig Hallum upped their price target on shares of Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. Citigroup raised their price objective on Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Finally, Barclays lifted their price objective on Lumentum from $750.00 to $1,000.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Fourteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,012.67.

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.