Lansforsakringar Fondforvaltning AB publ Takes Position in Lumentum Holdings Inc. $LITE

Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,819 shares of the technology company’s stock, valued at approximately $1,278,000.

Other large investors also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its position 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 worth $254,350,000 after purchasing an additional 1,545,199 shares during the last quarter. Norges Bank acquired a new stake in shares of Lumentum during the 4th quarter worth approximately $474,495,000. Value Aligned Research Advisors LLC acquired a new stake in shares of Lumentum during the 4th quarter worth approximately $432,062,000. Situational Awareness LP raised its position 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 valued at $478,577,000 after buying an additional 880,800 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Lumentum by 707.0% during the 4th 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 period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Vincent Retort sold 3,183 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $3,036,422.85. Following the sale, the insider directly owned 89,563 shares in the company, valued at approximately $85,438,623.85. This represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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, insider Yuen Wupen sold 3,210 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $3,062,179.50. Following the completion of the sale, the insider directly owned 81,488 shares in the company, valued at approximately $77,735,477.60. This trade represents a 3.79% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last ninety days, insiders have sold 41,260 shares of company stock worth $38,859,220. Corporate insiders own 0.43% of the company’s stock.

Lumentum Price Performance

Lumentum stock opened at $728.32 on Friday. The firm has a market capitalization of $56.66 billion, a P/E ratio of 134.87 and a beta of 1.48. 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 twelve month low of $88.93 and a twelve month high of $1,085.68. The stock’s fifty day simple moving average is $892.56 and its 200-day simple moving average is $683.79.

Lumentum (NASDAQ:LITE) last released its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $810.21 million. During the same period last year, the business posted $0.57 earnings per share. Lumentum’s revenue was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, equities analysts expect that Lumentum Holdings Inc. will post 6.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $1,014.00 target price on shares of Lumentum in a research note on Wednesday, May 6th. TD Cowen lifted their target price on shares of Lumentum from $875.00 to $995.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. Citic Securities upped their price target on Lumentum from $620.00 to $1,186.00 in a research note on Monday, May 11th. Morgan Stanley raised their price target on Lumentum from $710.00 to $900.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Stifel Nicolaus lifted their price objective on Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,021.95.

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.