R Squared Ltd Buys Shares of 1,000 Lumentum Holdings Inc. $LITE

R Squared Ltd acquired a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,000 shares of the technology company’s stock, valued at approximately $703,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LITE. Swedbank AB lifted its stake in Lumentum by 457.8% in the first quarter. Swedbank AB now owns 332,440 shares of the technology company’s stock valued at $233,626,000 after buying an additional 272,840 shares during the period. Abel Hall LLC increased its stake in shares of Lumentum by 5.5% in the 1st quarter. Abel Hall LLC now owns 693 shares of the technology company’s stock valued at $487,000 after acquiring an additional 36 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Lumentum by 335,933.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 30,243 shares of the technology company’s stock valued at $23,356,000 after acquiring an additional 30,234 shares during the period. Whittier Trust Co. raised its position in shares of Lumentum by 21,806.5% in the 1st quarter. Whittier Trust Co. now owns 74,044 shares of the technology company’s stock valued at $57,183,000 after acquiring an additional 73,706 shares during the period. Finally, Ascentis Independent Advisors boosted its stake in Lumentum by 22.8% during the 1st quarter. Ascentis Independent Advisors now owns 792 shares of the technology company’s stock worth $557,000 after acquiring an additional 147 shares during the last quarter. 94.05% of the stock is owned by institutional investors.

Insider Activity at Lumentum

In other Lumentum news, Director Ian Small sold 4,954 shares of Lumentum stock in a transaction on 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 $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 SEC, which is available through this hyperlink. Also, insider Vincent Retort sold 3,183 shares of the company’s stock in a transaction 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 completion of the transaction, the insider 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. 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. Insiders sold a total of 41,260 shares of company stock worth $38,859,220 in the last three months. 0.43% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on LITE shares. Morgan Stanley lifted their price target on shares of Lumentum from $710.00 to $900.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Northland Securities raised their price objective on Lumentum from $1,000.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Zacks Research upgraded Lumentum from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. B. Riley Financial reissued a “buy” rating on shares of Lumentum in a research note on Friday, May 1st. Finally, Loop Capital increased their price target on Lumentum from $900.00 to $1,400.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,021.95.

Lumentum Stock Performance

Shares of Lumentum stock traded down $36.01 during trading on Tuesday, hitting $695.24. 1,821,703 shares of the stock were exchanged, compared to its average volume of 5,927,597. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average price of $890.24 and a 200-day moving average price of $689.17. The stock has a market capitalization of $54.09 billion, a price-to-earnings ratio of 128.48 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.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. The business had revenue of $808.40 million during the quarter, compared to analysts’ expectations of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.Lumentum’s quarterly revenue was up 90.1% on a year-over-year basis. During the same quarter last year, the company posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, equities analysts predict that Lumentum Holdings Inc. will post 6.4 EPS for the current fiscal year.

Lumentum Company 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.