OP Asset Management Ltd Invests $5.17 Million in Lumentum Holdings Inc. $LITE

OP Asset Management Ltd bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the first quarter, HoldingsChannel.com reports. The firm bought 7,362 shares of the technology company’s stock, valued at approximately $5,174,000.

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

Insider Buying and Selling

In other Lumentum news, Director Isaac Hosojiro Harris sold 1,416 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $1,000.08, for a total transaction of $1,416,113.28. Following the sale, the director owned 6,984 shares of the company’s stock, valued at approximately $6,984,558.72. The trade was a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Wajid Ali sold 2,487 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 $2,372,473.65. Following the transaction, the chief financial officer owned 60,951 shares of the company’s stock, valued at $58,144,206.45. This trade represents a 3.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 worth $38,859,220 in the last quarter. Corporate insiders own 0.43% of the company’s stock.

Lumentum Price Performance

Shares of LITE stock opened at $818.73 on Friday. 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 Holdings Inc. has a twelve month low of $88.37 and a twelve month high of $1,085.68. The company has a market cap of $63.70 billion, a P/E ratio of 151.62 and a beta of 1.47. The business has a fifty day simple moving average of $901.03 and a 200 day simple moving average of $668.39.

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. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The business had revenue of $808.40 million for the quarter, compared to analyst estimates of $810.21 million. During the same period last year, the firm posted $0.57 earnings per share. Lumentum’s revenue was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, sell-side analysts forecast that Lumentum Holdings Inc. will post 6.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LITE has been the topic of a number of recent analyst reports. Mizuho set a $1,100.00 price target on Lumentum in a research report on Wednesday, May 6th. 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. Zacks Research raised shares of Lumentum from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. UBS Group boosted their target price on shares of Lumentum from $455.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Finally, Stifel Nicolaus upped their price target on shares of Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,021.95.

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.