Allspring Global Investments Holdings LLC Takes Position in Lumentum Holdings Inc. $LITE

Allspring Global Investments Holdings LLC acquired a new position in Lumentum Holdings Inc. (NASDAQ:LITE) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 22,370 shares of the technology company’s stock, valued at approximately $17,105,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Hilton Head Capital Partners LLC bought a new stake in Lumentum during the first quarter valued at approximately $25,000. Sachetta LLC raised its position in Lumentum by 118.8% in the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after acquiring an additional 19 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Lumentum during the 4th quarter worth $28,000. Truvestments Capital LLC boosted its stake in shares of Lumentum by 300.0% during 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 bought a new stake in shares of Lumentum during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on LITE shares. Loop Capital upped their price objective on Lumentum from $900.00 to $1,400.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Citic Securities boosted their price target on Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. BNP Paribas Exane upped their price target on Lumentum from $1,040.00 to $1,300.00 in a research report on Wednesday, May 6th. UBS Group raised their price objective on Lumentum from $455.00 to $960.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Lumentum from $950.00 to $1,130.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Fourteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,012.67.

Insider Activity at Lumentum

In other news, CFO Wajid Ali sold 2,487 shares of Lumentum 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 $2,372,473.65. Following the completion of the transaction, the chief financial officer owned 60,951 shares in the company, 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, SVP Jae Kim sold 1,422 shares of Lumentum stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $1,356,516.90. Following the transaction, the senior vice president directly owned 32,333 shares of the company’s stock, valued at approximately $30,844,065.35. This represents a 4.21% 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 sold a total of 41,260 shares of company stock valued at $38,859,220 over the last ninety days. 0.43% of the stock is currently owned by company insiders.

Lumentum Trading Up 9.4%

Shares of LITE stock opened at $837.56 on Wednesday. Lumentum Holdings Inc. has a 52-week low of $97.55 and a 52-week high of $1,085.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14. The firm has a market capitalization of $65.16 billion, a PE ratio of 155.10 and a beta of 1.48. The stock has a fifty day simple moving average of $856.21 and a two-hundred day simple moving average of $719.22.

Lumentum (NASDAQ:LITE) last released its earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.27 by $0.10. The firm had revenue of $808.40 million for the quarter, compared to the consensus estimate 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 quarter 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 predict that Lumentum Holdings Inc. will post 6.42 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.