NEOS Investment Management LLC Purchases 42,897 Shares of Lumentum Holdings Inc. $LITE

NEOS Investment Management LLC lifted its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 416.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 53,187 shares of the technology company’s stock after purchasing an additional 42,897 shares during the quarter. NEOS Investment Management LLC’s holdings in Lumentum were worth $45,638,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Jupiter Topco LLC acquired a new position in shares of Lumentum in the second quarter valued at $1,621,396,000. Arrowstreet Capital Limited Partnership boosted its stake 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 buying an additional 1,545,199 shares in the last quarter. Norges Bank acquired a new stake in Lumentum during the fourth quarter worth $474,495,000. Value Aligned Research Advisors LLC bought a new stake in Lumentum in the 4th quarter valued at $432,062,000. Finally, Situational Awareness LP increased its holdings 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 period. 94.05% of the stock is currently owned by institutional investors.

Lumentum Stock Down 2.7%

Shares of NASDAQ LITE opened at $847.37 on Friday. Lumentum Holdings Inc. has a 52-week low of $133.91 and a 52-week high of $1,085.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.40 and a current ratio of 1.68. The business has a fifty day moving average of $813.36 and a two-hundred day moving average of $815.28. The stock has a market cap of $76.01 billion, a PE ratio of -10.31 and a beta of 1.53.

Lumentum (NASDAQ:LITE) last posted its earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.26. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $987.70 million. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The firm’s quarterly revenue was up 109.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.88 EPS. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. As a group, equities research analysts expect that Lumentum Holdings Inc. will post 19.78 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Vincent Retort sold 38,663 shares of Lumentum stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $852.59, for a total value of $32,963,687.17. Following the completion of the transaction, the insider owned 78,440 shares in the company, valued at approximately $66,877,159.60. The trade was a 33.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael E. Hurlston sold 548 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $958.66, for a total value of $525,345.68. Following the completion of the transaction, the chief executive officer directly owned 186,951 shares in the company, valued at $179,222,445.66. The trade was a 0.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 64,147 shares of company stock valued at $54,950,611 in the last ninety days. 0.43% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LITE. Zacks Research raised shares of Lumentum from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 20th. UBS Group set a $820.00 target price on shares of Lumentum in a research note on Wednesday, August 12th. Mizuho upped their target price on shares of Lumentum from $1,100.00 to $1,140.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Citigroup reissued a “buy” rating on shares of Lumentum in a research report on Wednesday, August 12th. Finally, Evercore initiated coverage on shares of Lumentum in a research note on Monday. They set an “outperform” rating and a $1,100.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,053.83.

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.