Optimist Retirement Group LLC Buys Shares of 1,126 Lumentum Holdings Inc. $LITE

Optimist Retirement Group LLC bought a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 1,126 shares of the technology company’s stock, valued at approximately $415,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LITE. Arrowstreet Capital Limited Partnership increased its holdings in Lumentum by 8,579.2% during 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 during the last quarter. Assenagon Asset Management S.A. increased its holdings in Lumentum by 707.0% during 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 buying an additional 871,249 shares during the last quarter. Holocene Advisors LP purchased a new stake in Lumentum during the third quarter valued at approximately $136,401,000. WT Asset Management Ltd increased its holdings in Lumentum by 170.0% during the third quarter. WT Asset Management Ltd now owns 710,208 shares of the technology company’s stock valued at $115,558,000 after buying an additional 447,208 shares during the last quarter. Finally, Federated Hermes Inc. increased its holdings in Lumentum by 7,168.8% during the third quarter. Federated Hermes Inc. now owns 362,352 shares of the technology company’s stock valued at $58,958,000 after buying an additional 357,367 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on LITE shares. Craig Hallum increased their price objective on shares of Lumentum from $900.00 to $1,150.00 in a research note on Wednesday, May 6th. Mizuho set a $1,100.00 price objective on shares of Lumentum in a research note on Wednesday, May 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Lumentum in a research note on Tuesday, April 21st. UBS Group increased their price objective on shares of Lumentum from $455.00 to $960.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Finally, BNP Paribas Exane increased their price objective on shares of Lumentum from $1,040.00 to $1,300.00 in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,012.43.

Insider Buying and Selling at Lumentum

In other Lumentum news, Director Brian Lillie sold 11,951 shares of the stock in a transaction on 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 completion of the transaction, the director owned 13,959 shares in the company, valued at $13,702,712.76. This trade represents a 46.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Wajid Ali sold 5,302 shares of the stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $691.13, for a total transaction of $3,664,371.26. Following the completion of the transaction, the chief financial officer directly owned 66,287 shares of the company’s stock, valued at approximately $45,812,934.31. The trade was a 7.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,146 shares of company stock valued at $37,667,478 over the last ninety days. Corporate insiders own 0.43% of the company’s stock.

Lumentum Price Performance

Shares of NASDAQ:LITE opened at $910.81 on Wednesday. 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 firm has a fifty day moving average price of $849.55 and a 200 day moving average price of $572.68. Lumentum Holdings Inc. has a fifty-two week low of $71.04 and a fifty-two week high of $1,085.68. The firm has a market cap of $70.86 billion, a price-to-earnings ratio of 168.67 and a beta of 1.53.

Lumentum (NASDAQ:LITE) last issued its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The firm had revenue of $808.40 million during the quarter, compared to analyst estimates of $810.21 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. Lumentum’s revenue for the quarter was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, sell-side analysts expect that Lumentum Holdings Inc. will post 6.49 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.