Candriam S.C.A. Invests $3.54 Million in Lumentum Holdings Inc. $LITE

Candriam S.C.A. bought a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,037 shares of the technology company’s stock, valued at approximately $3,540,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. increased its holdings in shares of Lumentum by 45.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company’s stock valued at $136,306,000 after buying an additional 114,714 shares in the last quarter. Andar Capital Management HK Ltd bought a new stake in shares of Lumentum during the 4th quarter worth $4,325,000. Whittier Trust Co. boosted its stake in shares of Lumentum by 21,806.5% during the 1st quarter. Whittier Trust Co. now owns 74,044 shares of the technology company’s stock worth $57,183,000 after acquiring an additional 73,706 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Lumentum in the 4th quarter worth $6,755,000. Finally, Maxi Investments CY Ltd acquired a new position in shares of Lumentum in the 4th quarter worth $2,212,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Lumentum Stock Performance

Shares of LITE stock opened at $768.15 on Tuesday. 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 fifty-two week low of $90.98 and a fifty-two week high of $1,085.68. The stock’s 50-day moving average is $879.63 and its two-hundred day moving average is $702.94. The firm has a market cap of $59.76 billion, a P/E ratio of 142.25 and a beta of 1.48.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating 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 business had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. During the same quarter last year, the firm earned $0.57 EPS. Lumentum’s revenue for the quarter was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Analysts predict that Lumentum Holdings Inc. will post 6.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LITE has been the topic of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $1,040.00 price target on shares of Lumentum in a research note on Tuesday, June 9th. Raymond James Financial reaffirmed an “outperform” rating and set a $1,014.00 price objective on shares of Lumentum in a research note on Wednesday, May 6th. BNP Paribas Exane raised their target price on shares of Lumentum from $1,040.00 to $1,300.00 in a report on Wednesday, May 6th. Loop Capital lifted their target price on shares of Lumentum from $900.00 to $1,400.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Lumentum from $950.00 to $1,130.00 and gave the company an “overweight” 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,012.67.

Insider Activity

In related news, insider Vincent Retort sold 3,183 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 transaction of $3,036,422.85. Following the completion of the transaction, the insider owned 89,563 shares of the company’s stock, valued at approximately $85,438,623.85. The trade was a 3.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Ian Small sold 4,954 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total value of $4,300,418.78. Following the transaction, the director owned 21,008 shares of the company’s stock, valued at approximately $18,236,414.56. This trade represents a 19.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 41,260 shares of company stock worth $38,859,220. Insiders own 0.43% of the company’s stock.

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.