CI Investments Inc. Takes $35.49 Million Position in Lumentum Holdings Inc. $LITE

CI Investments Inc. purchased a new position in Lumentum Holdings Inc. (NASDAQ:LITE) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 50,501 shares of the technology company’s stock, valued at approximately $35,490,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sachetta LLC boosted its holdings in Lumentum by 118.8% during the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after acquiring an additional 19 shares during the period. Hilton Head Capital Partners LLC purchased a new stake in Lumentum in the first quarter worth $25,000. Abel Hall LLC lifted its position in shares of Lumentum by 5.5% during the first quarter. Abel Hall LLC now owns 693 shares of the technology company’s stock worth $487,000 after purchasing an additional 36 shares during the last quarter. Checchi Capital Advisers LLC lifted its position in shares of Lumentum by 5.1% during the first quarter. Checchi Capital Advisers LLC now owns 790 shares of the technology company’s stock worth $555,000 after purchasing an additional 38 shares during the last quarter. Finally, 180 Wealth Advisors LLC boosted its stake in shares of Lumentum by 2.9% during the first quarter. 180 Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock valued at $1,092,000 after purchasing an additional 44 shares during the period. 94.05% of the stock is owned by institutional investors.

Lumentum Stock Down 0.9%

Shares of Lumentum stock opened at $829.70 on Thursday. 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 1 year low of $99.92 and a 1 year high of $1,085.68. The firm’s 50-day moving average is $852.21 and its two-hundred day moving average is $722.46. The stock has a market cap of $64.55 billion, a price-to-earnings ratio of 153.65 and a beta of 1.48.

Lumentum (NASDAQ:LITE) last posted its earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS 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 posted $0.57 EPS. The company’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. As a group, research analysts expect that Lumentum Holdings Inc. will post 6.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Morgan Stanley upped their price target on shares of Lumentum from $710.00 to $900.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Loop Capital lifted their price objective on shares of Lumentum from $900.00 to $1,400.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. UBS Group upped their target price 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. Mizuho set a $1,100.00 target price on shares of Lumentum in a research report on Wednesday, May 6th. Finally, Citigroup reiterated a “buy” rating on shares of Lumentum in a report on Thursday, July 16th. Fourteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,012.67.

Insider Activity at Lumentum

In other Lumentum news, insider Yuen Wupen sold 3,210 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $3,062,179.50. Following the completion of the sale, the insider owned 81,488 shares in the company, valued at $77,735,477.60. This represents a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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, insider Vincent Retort sold 3,183 shares of the stock in a transaction 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 sale, the insider directly owned 89,563 shares in the company, valued at $85,438,623.85. This trade represents a 3.43% decrease in their position. The SEC filing for this sale provides additional information. 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 quarter. 0.43% of the stock is owned by insiders.

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.