Swedbank AB Purchases 272,840 Shares of Lumentum Holdings Inc. $LITE

by · The Markets Daily

Swedbank AB increased its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE – Free Report) by 457.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 332,440 shares of the technology company’s stock after purchasing an additional 272,840 shares during the period. Swedbank AB’s holdings in Lumentum were worth $233,626,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its position in shares of Lumentum by 36.8% in the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock valued at $59,000 after acquiring an additional 254 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Lumentum by 109.9% in the 1st quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company’s stock valued at $747,000 after purchasing an additional 6,275 shares during the period. Empowered Funds LLC lifted its stake in Lumentum by 9.1% in the 1st quarter. Empowered Funds LLC now owns 8,139 shares of the technology company’s stock valued at $507,000 after purchasing an additional 680 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in Lumentum in the 2nd quarter valued at about $298,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in Lumentum during the second quarter worth about $1,712,000. 94.05% of the stock is owned by institutional investors.

Insider Buying and Selling at Lumentum

In related news, Director Ian Small sold 4,954 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $868.07, for a total value of $4,300,418.78. Following the completion of the transaction, the director owned 21,008 shares of the company’s stock, valued at $18,236,414.56. The trade was a 19.08% 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. Also, Director Isaac Hosojiro Harris sold 1,416 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total transaction of $1,416,113.28. Following the sale, the director directly owned 6,984 shares of the company’s stock, valued at $6,984,558.72. This represents a 16.86% 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. Insiders have sold a total of 41,260 shares of company stock valued at $38,859,220 over the last ninety days. 0.43% of the stock is owned by corporate insiders.

Lumentum Stock Performance

LITE stock traded down $36.70 during mid-day trading on Tuesday, hitting $694.55. 1,731,874 shares of the company were exchanged, compared to its average volume of 5,926,246. The business has a 50 day simple moving average of $890.24 and a 200-day simple moving average of $689.17. The stock has a market capitalization of $54.04 billion, a PE ratio of 128.62 and a beta of 1.48. Lumentum Holdings Inc. has a 1-year low of $88.93 and a 1-year high of $1,085.68. 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 (NASDAQ:LITE – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.10. The firm had revenue of $808.40 million for the quarter, compared to analyst estimates of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The company’s revenue for the quarter was up 90.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, equities analysts forecast that Lumentum Holdings Inc. will post 6.4 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Craig Hallum boosted their price target on Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. Barclays raised their price objective on Lumentum from $750.00 to $1,000.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Needham & Company LLC reiterated a “buy” rating and set a $1,040.00 target price on shares of Lumentum in a research note on Tuesday, June 9th. Mizuho set a $1,100.00 target price on Lumentum in a report on Wednesday, May 6th. Finally, Raymond James Financial restated an “outperform” rating and issued a $1,014.00 price target on shares of Lumentum in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,021.95.

View Our Latest Stock Analysis on Lumentum

Lumentum Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding LITE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lumentum Holdings Inc. (NASDAQ:LITE – Free Report).