Mediolanum International Funds Ltd Acquires New Shares in Lumentum Holdings Inc. $LITE

Mediolanum International Funds Ltd acquired a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 4,375 shares of the technology company’s stock, valued at approximately $2,865,000.

Other institutional investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership increased its position 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 in the last quarter. Norges Bank acquired a new position in Lumentum during the fourth quarter worth about $474,495,000. Value Aligned Research Advisors LLC acquired a new position in Lumentum during the fourth quarter worth about $432,062,000. Situational Awareness LP increased its stake in shares of Lumentum by 210.9% during the 4th quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock worth $478,577,000 after purchasing 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% in the fourth 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 in the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Craig Hallum increased their price objective on Lumentum from $900.00 to $1,150.00 in a research note on Wednesday, May 6th. TD Cowen reduced their target price on shares of Lumentum from $995.00 to $800.00 and set a “hold” rating on the stock in a report on Monday, July 13th. Citigroup reaffirmed a “buy” rating on shares of Lumentum in a research note on Thursday, July 16th. Citic Securities lifted their price target on shares of Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. Finally, Zacks Research lowered shares of Lumentum from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,012.67.

Insider Buying and Selling at Lumentum

In other news, Director Brian Lillie sold 11,951 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $981.64, for a total transaction of $11,731,579.64. Following the transaction, the director directly owned 13,959 shares in the company, valued at $13,702,712.76. This represents a 46.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian Small sold 4,954 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the completion of the sale, the director directly owned 21,008 shares in the company, valued at $18,236,414.56. This represents a 19.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 41,260 shares of company stock worth $38,859,220. 0.43% of the stock is currently owned by insiders.

Lumentum Stock Performance

Lumentum stock opened at $837.56 on Wednesday. The firm has a market capitalization of $65.16 billion, a P/E ratio of 155.10 and a beta of 1.48. The stock has a fifty day moving average price of $856.21 and a 200 day moving average price of $719.22. Lumentum Holdings Inc. has a 52 week low of $97.55 and a 52 week high of $1,085.68. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The firm had revenue of $808.40 million for the quarter, compared to analyst estimates of $810.21 million. During the same period last year, the company earned $0.57 EPS. The firm’s quarterly revenue was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Equities research analysts anticipate that Lumentum Holdings Inc. will post 6.42 earnings per share 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.