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

Citizens Financial Group Inc. RI bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) in the first quarter, HoldingsChannel reports. The firm bought 851 shares of the technology company’s stock, valued at approximately $598,000.

Other hedge funds also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its holdings in Lumentum by 8,579.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock worth $254,350,000 after purchasing an additional 1,545,199 shares in the last quarter. Norges Bank bought a new stake in shares of Lumentum during the 4th quarter valued at $474,495,000. Value Aligned Research Advisors LLC bought a new stake in shares of Lumentum during the 4th quarter valued at $432,062,000. Situational Awareness LP grew its position in shares of Lumentum by 210.9% in the 4th quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock worth $478,577,000 after buying an additional 880,800 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Lumentum by 707.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company’s stock valued at $366,555,000 after acquiring an additional 871,249 shares during the period. 94.05% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Lumentum news, insider Vincent Retort sold 3,183 shares of Lumentum stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $3,036,422.85. Following the completion of the sale, 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 SEC, 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, SVP Jae Kim sold 1,422 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 $1,356,516.90. Following the sale, the senior vice president 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. 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 a total of 41,260 shares of company stock worth $38,859,220 in the last 90 days. Insiders own 0.43% of the company’s stock.

Lumentum Stock Performance

Shares of NASDAQ LITE opened at $752.00 on Thursday. The firm’s 50-day moving average price is $872.19 and its 200-day moving average price is $708.38. Lumentum Holdings Inc. has a 52-week low of $95.18 and a 52-week high of $1,085.68. The company has a market cap of $58.51 billion, a PE ratio of 139.26 and a beta of 1.48. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01.

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, beating the consensus estimate of $2.27 by $0.10. The firm had revenue of $808.40 million during the quarter, compared to analysts’ expectations of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The firm’s quarterly revenue was up 90.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, analysts anticipate that Lumentum Holdings Inc. will post 6.4 EPS for the current year.

Analyst Ratings Changes

LITE has been the topic of several research reports. Zacks Research lowered shares of Lumentum from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. B. Riley Financial reaffirmed a “buy” rating on shares of Lumentum in a research note on Friday, May 1st. BNP Paribas Exane lifted their target price on shares of Lumentum from $1,040.00 to $1,300.00 in a report on Wednesday, May 6th. TD Cowen dropped their price target on Lumentum from $995.00 to $800.00 and set a “hold” rating on the stock in a research report on Monday. Finally, Raymond James Financial restated an “outperform” rating and issued a $1,014.00 price target on shares of Lumentum in a research note on Wednesday, May 6th. Fourteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,012.67.

Lumentum Company 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.