OMERS ADMINISTRATION Corp Buys New Position in Lumentum Holdings Inc. $LITE

OMERS ADMINISTRATION Corp bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 739 shares of the technology company’s stock, valued at approximately $519,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. lifted its stake in Lumentum by 45.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company’s stock valued at $136,306,000 after purchasing an additional 114,714 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. acquired a new position in Lumentum in the first quarter worth approximately $2,046,000. Andar Capital Management HK Ltd acquired a new position in Lumentum in the fourth quarter worth approximately $4,325,000. Whittier Trust Co. increased its holdings in shares of Lumentum by 21,806.5% in the first quarter. Whittier Trust Co. now owns 74,044 shares of the technology company’s stock valued at $57,183,000 after buying an additional 73,706 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Lumentum in the fourth quarter valued at $6,755,000. 94.05% of the stock is currently owned by institutional investors.

Lumentum Trading Up 3.0%

NASDAQ LITE opened at $713.94 on Friday. Lumentum Holdings Inc. has a twelve month low of $101.61 and a twelve month high of $1,085.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14. The stock has a market cap of $55.54 billion, a price-to-earnings ratio of 132.21 and a beta of 1.48. The firm’s 50 day moving average price is $821.07 and its two-hundred day moving average price is $736.55.

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

Analyst Ratings Changes

Several research firms have recently weighed in on LITE. Northland Securities raised their price objective on Lumentum from $1,000.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Loop Capital boosted their target price on Lumentum from $900.00 to $1,400.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. B. Riley Financial reaffirmed a “buy” rating on shares of Lumentum in a report on Friday, May 1st. Craig Hallum upped their target price on Lumentum from $900.00 to $1,150.00 in a report on Wednesday, May 6th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $1,014.00 price target on shares of Lumentum in a research report on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,012.67.

Insider Activity

In other Lumentum news, Director Brian Lillie sold 11,951 shares of Lumentum stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $981.64, for a total transaction of $11,731,579.64. Following the transaction, the director owned 13,959 shares of the company’s stock, valued at $13,702,712.76. The trade was a 46.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 3,210 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $3,062,179.50. Following the completion of the transaction, the insider owned 81,488 shares in the company, valued at $77,735,477.60. This represents a 3.79% decrease in their position. 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 41,260 shares of company stock valued at $38,859,220 in the last ninety days. Corporate insiders own 0.43% of the company’s stock.

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.