QRG Capital Management Inc. Raises Position in Lumentum Holdings Inc. $LITE

QRG Capital Management Inc. boosted its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 254.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,074 shares of the technology company’s stock after buying an additional 1,489 shares during the period. QRG Capital Management Inc.’s holdings in Lumentum were worth $1,458,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its position in shares of Lumentum by 36.8% during the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock valued at $59,000 after acquiring an additional 254 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Lumentum by 109.9% in the first quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company’s stock worth $747,000 after purchasing an additional 6,275 shares during the last quarter. Empowered Funds LLC increased its position in shares of Lumentum by 9.1% in the first quarter. Empowered Funds LLC now owns 8,139 shares of the technology company’s stock worth $507,000 after purchasing an additional 680 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in Lumentum in the second quarter valued at approximately $298,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Lumentum during the second quarter valued at approximately $1,712,000. 94.05% of the stock is currently 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 stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction 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. This represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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, Director Isaac Hosojiro Harris sold 4,000 shares of Lumentum stock in a transaction on Friday, May 29th. The stock was sold at an average price of $860.00, for a total transaction of $3,440,000.00. Following the completion of the transaction, the director directly owned 8,400 shares in the company, valued at approximately $7,224,000. The trade was a 32.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 41,260 shares of company stock worth $38,859,220 over the last quarter. Company insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on LITE shares. UBS Group increased their price target on shares of Lumentum from $455.00 to $960.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Rosenblatt Securities upped their target price on shares of Lumentum from $900.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Loop Capital increased their target price on Lumentum from $900.00 to $1,400.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Susquehanna raised their price target on Lumentum from $550.00 to $1,100.00 and gave the company a “positive” rating in a research report on Monday, April 20th. Finally, Stifel Nicolaus lifted their price target on Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Lumentum presently has an average rating of “Moderate Buy” and a consensus target price of $1,021.95.

Lumentum Price Performance

Shares of NASDAQ:LITE opened at $698.91 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The stock has a market cap of $54.38 billion, a PE ratio of 129.43 and a beta of 1.48. The company’s fifty day moving average is $886.59 and its 200 day moving average is $691.84. Lumentum Holdings Inc. has a 52 week low of $88.93 and a 52 week high of $1,085.68.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.10. The firm had revenue of $808.40 million for the quarter, compared to analysts’ expectations 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 period last year, the firm earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Research analysts anticipate that Lumentum Holdings Inc. will post 6.4 earnings per share for the current 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.