BI Asset Management Fondsmaeglerselskab A S Purchases New Stake in Lumentum Holdings Inc. $LITE

BI Asset Management Fondsmaeglerselskab A S acquired a new position in Lumentum Holdings Inc. (NASDAQ:LITE) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 14,940 shares of the technology company’s stock, valued at approximately $10,499,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position 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 purchasing an additional 131 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Lumentum during the 4th quarter worth approximately $28,000. Truvestments Capital LLC raised its stake in shares of Lumentum by 300.0% during the fourth quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock worth $28,000 after buying an additional 57 shares during the last quarter. Triumph Capital Management bought a new stake in shares of Lumentum during the fourth quarter worth approximately $30,000. Finally, Danske Bank A S acquired a new position in Lumentum in the third quarter valued at approximately $33,000. 94.05% of the stock is owned by institutional investors.

Lumentum Price Performance

Shares of NASDAQ:LITE opened at $850.00 on Monday. Lumentum Holdings Inc. has a 52 week low of $86.63 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 company has a market capitalization of $66.13 billion, a PE ratio of 157.41 and a beta of 1.47. The company has a 50 day moving average price of $902.94 and a two-hundred day moving average price of $652.12.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The company had revenue of $808.40 million for the quarter, compared to analysts’ expectations of $810.21 million. During the same period last year, the firm posted $0.57 earnings per share. The business’s quarterly revenue was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Analysts forecast that Lumentum Holdings Inc. will post 6.4 earnings per share for the current year.

Insider Buying and Selling at Lumentum

In other Lumentum news, SVP Jae Kim sold 1,422 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $1,356,516.90. Following the completion of the transaction, the senior vice president directly owned 32,333 shares of the company’s stock, valued at approximately $30,844,065.35. The trade was a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total value of $1,416,113.28. Following the completion of the sale, 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 worth $38,859,220 in the last three months. 0.43% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Loop Capital raised their price objective on shares of Lumentum from $900.00 to $1,400.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. BNP Paribas Exane upped their target price on shares of Lumentum from $1,040.00 to $1,300.00 in a research report on Wednesday, May 6th. B. Riley Financial reissued a “buy” rating on shares of Lumentum in a research note on Friday, May 1st. UBS Group raised their price target on Lumentum from $455.00 to $960.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, Susquehanna lifted their price objective on Lumentum from $550.00 to $1,100.00 and gave the stock a “positive” rating in a research note on Monday, April 20th. One 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,021.95.

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.