9,237 Shares in Lumentum Holdings Inc. $LITE Bought by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 9,237 shares of the technology company’s stock, valued at approximately $7,926,000.

Other hedge funds have also modified their holdings of the company. Hilton Head Capital Partners LLC acquired a new position in shares of Lumentum in the 1st quarter valued at $25,000. Sachetta LLC raised its holdings in Lumentum by 118.8% during the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after buying an additional 19 shares during the period. Truvestments Capital LLC raised its holdings in Lumentum by 300.0% during the 4th 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 period. Triumph Capital Management purchased a new stake in Lumentum during the fourth quarter valued at about $30,000. Finally, Danske Bank A S purchased a new stake in Lumentum during the third quarter valued at about $33,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lumentum

In other news, insider Vincent Retort sold 3,183 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $909.43, for a total transaction of $2,894,715.69. Following the completion of the sale, the insider directly owned 114,495 shares of the company’s stock, valued at $104,125,187.85. This trade represents a 2.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 1,366 shares of Lumentum stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $909.43, for a total value of $1,242,281.38. Following the sale, the senior vice president owned 45,973 shares of the company’s stock, valued at approximately $41,809,225.39. This represents a 2.89% 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 9,965 shares of company stock worth $8,993,110 over the last 90 days. 0.43% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LITE. Rosenblatt Securities reiterated a “buy” rating and issued a $1,300.00 target price on shares of Lumentum in a report on Wednesday, August 12th. Citigroup restated a “buy” rating on shares of Lumentum in a report on Wednesday, August 12th. Loop Capital upped their price target on shares of Lumentum from $900.00 to $1,400.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Weiss Ratings lowered shares of Lumentum from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 5th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $1,036.00 price objective on shares of Lumentum in a research report on Wednesday, August 12th. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,044.67.

Lumentum Trading Up 6.2%

NASDAQ:LITE opened at $879.28 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.68 and a quick ratio of 1.40. Lumentum Holdings Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $1,085.68. The stock’s 50-day moving average is $810.86 and its two-hundred day moving average is $789.68. The stock has a market cap of $78.87 billion, a PE ratio of -10.70 and a beta of 1.50.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.26. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $987.70 million. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The firm’s revenue was up 109.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 earnings per share. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. As a group, equities research analysts forecast that Lumentum Holdings Inc. will post 16.95 earnings per share for the current fiscal year.

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.