Lansforsakringar Fondforvaltning AB publ Invests $1.28 Million in Lumentum Holdings Inc. $LITE

Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,819 shares of the technology company’s stock, valued at approximately $1,278,000.

Several other hedge funds have also added to or reduced their stakes in the stock. waypoint wealth counsel bought a new position in shares of Lumentum in the first quarter worth approximately $213,000. Wiser Advisor Group LLC boosted its stake in shares of Lumentum by 6,000.0% in the 1st quarter. Wiser Advisor Group LLC now owns 61 shares of the technology company’s stock worth $43,000 after buying an additional 60 shares during the last quarter. Apollon Wealth Management LLC bought a new stake in shares of Lumentum during the 1st quarter valued at about $248,000. Patton Fund Management Inc. bought a new stake in Lumentum during the first quarter valued at approximately $5,201,000. Finally, Adams Diversified Equity Fund Inc. purchased a new stake in Lumentum during the first quarter valued at approximately $2,530,000. 94.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LITE has been the topic of several recent research reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $1,200.00 price objective on shares of Lumentum in a research note on Wednesday, May 6th. Barclays raised their target price on shares of Lumentum from $750.00 to $1,000.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Needham & Company LLC reiterated a “buy” rating and issued a $1,040.00 price target on shares of Lumentum in a research report on Tuesday, June 9th. Craig Hallum increased their price objective on shares of Lumentum from $900.00 to $1,150.00 in a research note on Wednesday, May 6th. Finally, TD Cowen lifted their target price on Lumentum from $875.00 to $995.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,021.95.

Insider Activity at Lumentum

In related news, Director Isaac Hosojiro Harris sold 4,000 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $860.00, for a total value of $3,440,000.00. Following the completion of the transaction, the director directly owned 8,400 shares of the company’s stock, valued at $7,224,000. This trade represents a 32.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brian Lillie sold 11,951 shares of Lumentum stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $981.64, for a total value of $11,731,579.64. Following the sale, the director directly owned 13,959 shares of the company’s stock, valued at approximately $13,702,712.76. This represents a 46.13% 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. Insiders sold a total of 41,260 shares of company stock worth $38,859,220 over the last ninety days. Corporate insiders own 0.43% of the company’s stock.

Lumentum Stock Performance

Lumentum stock opened at $728.32 on Friday. 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 $88.93 and a 1-year high of $1,085.68. The firm has a market capitalization of $56.66 billion, a P/E ratio of 134.87 and a beta of 1.48. The company’s 50-day moving average is $892.56 and its 200 day moving average is $683.79.

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

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.