Oddo BHF Asset Management Sas Has $6.44 Million Stake in Lumentum Holdings Inc. $LITE

Oddo BHF Asset Management Sas increased its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 15,180.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,168 shares of the technology company’s stock after purchasing an additional 9,108 shares during the quarter. Oddo BHF Asset Management Sas’ holdings in Lumentum were worth $6,443,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Sachetta LLC lifted its position in Lumentum by 118.8% in the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after buying an additional 19 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new stake in shares of Lumentum during the 1st quarter valued at $25,000. Abel Hall LLC grew its holdings in shares of Lumentum by 5.5% during the 1st quarter. Abel Hall LLC now owns 693 shares of the technology company’s stock valued at $487,000 after acquiring an additional 36 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in shares of Lumentum by 5.1% during the 1st quarter. Checchi Capital Advisers LLC now owns 790 shares of the technology company’s stock valued at $555,000 after acquiring an additional 38 shares in the last quarter. Finally, 180 Wealth Advisors LLC increased its stake in shares of Lumentum by 2.9% in the first quarter. 180 Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock worth $1,092,000 after acquiring an additional 44 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lumentum

In related news, CFO Wajid Ali sold 2,487 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $2,372,473.65. Following the transaction, the chief financial officer directly owned 60,951 shares of the company’s stock, valued at approximately $58,144,206.45. This trade represents a 3.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 1,422 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $1,356,516.90. Following the completion of the sale, the senior vice president owned 32,333 shares of the company’s stock, valued at approximately $30,844,065.35. This trade represents a 4.21% 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 a total of 41,260 shares of company stock worth $38,859,220 in the last 90 days. Insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on LITE. Citigroup reiterated a “buy” rating on shares of Lumentum in a report on Thursday, July 16th. BNP Paribas Exane boosted their target price on Lumentum from $1,040.00 to $1,300.00 in a research note on Wednesday, May 6th. Raymond James Financial reaffirmed an “outperform” rating and issued a $1,014.00 target price on shares of Lumentum in a research report on Wednesday, May 6th. Mizuho set a $1,100.00 price target on Lumentum in a research note on Wednesday, May 6th. Finally, Loop Capital lifted their price target on Lumentum from $900.00 to $1,400.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,012.67.

Lumentum Stock Down 7.6%

Lumentum stock opened at $602.35 on Thursday. 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 Holdings Inc. has a 1-year low of $101.61 and a 1-year high of $1,085.68. The firm’s fifty day simple moving average is $831.15 and its 200-day simple moving average is $734.30. The company has a market capitalization of $46.86 billion, a P/E ratio of 111.55 and a beta of 1.48.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data 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. The firm had revenue of $808.40 million during the quarter, compared to analysts’ expectations of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. Lumentum’s revenue for the quarter was up 90.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Sell-side analysts forecast that Lumentum Holdings Inc. will post 6.42 earnings per share for the current fiscal 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.