Allianz Asset Management GmbH grew its position in Lumentum Holdings Inc. (NASDAQ:LITE – Free Report) by 13.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 61,978 shares of the technology company’s stock after buying an additional 7,256 shares during the period. Allianz Asset Management GmbH’s holdings in Lumentum were worth $5,892,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in LITE. Vanguard Group Inc. boosted its holdings in Lumentum by 0.6% in the first quarter. Vanguard Group Inc. now owns 7,430,185 shares of the technology company’s stock valued at $463,198,000 after acquiring an additional 47,811 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Lumentum in the 1st quarter valued at about $260,000. FORA Capital LLC acquired a new stake in shares of Lumentum during the 1st quarter worth approximately $642,000. Principal Financial Group Inc. raised its stake in shares of Lumentum by 1.1% during the first quarter. Principal Financial Group Inc. now owns 159,154 shares of the technology company’s stock worth $9,922,000 after buying an additional 1,660 shares during the last quarter. Finally, Quantitative Investment Management LLC acquired a new position in Lumentum in the first quarter valued at approximately $1,424,000. Institutional investors own 94.05% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have commented on LITE shares. Bank of America raised shares of Lumentum from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $78.00 to $135.00 in a report on Wednesday, August 13th. Stifel Nicolaus upped their price objective on Lumentum from $100.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, August 13th. B. Riley raised their target price on Lumentum from $73.00 to $83.00 and gave the stock a “neutral” rating in a report on Wednesday, August 13th. Morgan Stanley boosted their target price on Lumentum from $100.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Friday, October 10th. Finally, KGI Securities began coverage on shares of Lumentum in a research report on Monday, August 18th. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $144.07.
Insider Transactions at Lumentum
In other news, SVP Jae Kim sold 4,507 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $116.88, for a total transaction of $526,778.16. Following the completion of the transaction, the senior vice president directly owned 33,465 shares of the company’s stock, valued at $3,911,389.20. This represents a 11.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Julia Suzanne Johnson sold 1,250 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $119.06, for a total value of $148,825.00. Following the transaction, the director owned 22,037 shares of the company’s stock, valued at approximately $2,623,725.22. The trade was a 5.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,158 shares of company stock worth $4,706,087. Company insiders own 0.43% of the company’s stock.
Lumentum Stock Performance
Shares of LITE stock opened at $158.06 on Thursday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 3.18 and a current ratio of 4.37. Lumentum Holdings Inc. has a 52 week low of $45.65 and a 52 week high of $178.49. The company’s 50 day moving average price is $149.92 and its two-hundred day moving average price is $105.36. The company has a market capitalization of $11.21 billion, a P/E ratio of 687.22 and a beta of 1.42.
Lumentum (NASDAQ:LITE – Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The technology company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.09. Lumentum had a net margin of 1.57% and a negative return on equity of 3.02%. The company had revenue of $480.70 million during the quarter, compared to analysts’ expectations of $465.27 million. During the same quarter in the prior year, the company earned $0.06 earnings per share. The business’s quarterly revenue was up 55.9% compared to the same quarter last year. Lumentum has set its Q1 2026 guidance at 0.950-1.100 EPS. On average, analysts expect that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.
Lumentum Company Profile
Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.
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