Valliance Asset Management Ltd Buys New Stake in Lumentum Holdings Inc. $LITE

Valliance Asset Management Ltd bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 20,000 shares of the technology company’s stock, valued at approximately $7,372,000. Lumentum comprises 3.1% of Valliance Asset Management Ltd’s holdings, making the stock its 10th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Lumentum by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 7,485,282 shares of the technology company’s stock valued at $1,217,930,000 after buying an additional 41,975 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Lumentum by 18.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,854,801 shares of the technology company’s stock valued at $683,661,000 after buying an additional 291,591 shares during the last quarter. Geode Capital Management LLC grew its stake in Lumentum by 9.6% in the 4th quarter. Geode Capital Management LLC now owns 1,412,213 shares of the technology company’s stock valued at $521,563,000 after buying an additional 123,265 shares during the last quarter. Situational Awareness LP grew its stake in Lumentum by 210.9% in 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 last quarter. Finally, Norges Bank acquired a new position in Lumentum in the 4th quarter valued at $474,495,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on LITE shares. Citigroup raised their target price on shares of Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. raised their target price on shares of Lumentum from $950.00 to $1,130.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Craig Hallum increased their price target on shares of Lumentum from $900.00 to $1,150.00 in a report on Wednesday, May 6th. BNP Paribas Exane increased their price target on shares of Lumentum from $1,040.00 to $1,300.00 in a report on Wednesday, May 6th. Finally, Susquehanna increased their price target on shares of Lumentum from $550.00 to $1,100.00 and gave the company a “positive” rating in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,021.95.

Insider Transactions at Lumentum

In other news, Director Ian Small sold 4,954 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the completion of the transaction, the director directly owned 21,008 shares of the company’s stock, valued at approximately $18,236,414.56. This trade represents a 19.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jae Kim sold 1,422 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $1,356,516.90. Following the transaction, the senior vice president directly owned 32,333 shares of the company’s stock, valued at $30,844,065.35. The trade was a 4.21% decrease in their ownership of the stock. 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. Over the last quarter, insiders sold 41,260 shares of company stock worth $38,859,220. 0.43% of the stock is currently owned by insiders.

Lumentum Price Performance

Shares of Lumentum stock opened at $921.56 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. Lumentum Holdings Inc. has a fifty-two week low of $81.93 and a fifty-two week high of $1,085.68. The firm has a fifty day moving average price of $897.64 and a two-hundred day moving average price of $632.04. The company has a market cap of $71.70 billion, a PE ratio of 170.66 and a beta of 1.47.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating 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 the consensus estimate of $810.21 million. During the same period in the prior year, the firm earned $0.57 EPS. The business’s revenue was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Analysts expect that Lumentum Holdings Inc. will post 6.49 EPS for the current year.

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.