Lumentum Holdings Inc. $LITE Shares Bought by Candriam S.C.A.

Candriam S.C.A. boosted its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 30.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,882 shares of the technology company’s stock after acquiring an additional 1,607 shares during the quarter. Candriam S.C.A.’s holdings in Lumentum were worth $6,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of LITE. Burkett Financial Services LLC bought a new stake in Lumentum in the third quarter valued at approximately $28,000. Putney Financial Group LLC purchased a new stake in shares of Lumentum during the third quarter valued at approximately $28,000. Signature Equity Partners LLC boosted its stake in shares of Lumentum by 220.0% during the third quarter. Signature Equity Partners LLC now owns 32 shares of the technology company’s stock valued at $31,000 after purchasing an additional 22 shares during the period. Latitude Advisors LLC purchased a new stake in shares of Lumentum during the third quarter valued at approximately $40,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Lumentum in the second quarter worth approximately $40,000. 94.05% of the stock is currently owned by institutional investors.

Lumentum News Summary

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Sanford C. Bernstein raised its price target to $700 from $635 and maintained an “outperform” rating, implying potential upside from the cited share price. Analyst rating
• Positive Sentiment: Lumentum joined a broader optical-stock rebound on Nov. 9, with reports pointing to continued investor interest in AI-related photonics companies. This offers supportive sector context, though it predates the latest session. Optical stocks rebound
• Neutral Sentiment: A shareholder-law firm announced an investigation involving Lumentum, but the notice provides no specific allegations or findings. The announcement introduces uncertainty but does not establish wrongdoing. Investigation notice
• Neutral Sentiment: A report listed short interest at zero shares as of Nov. 10, despite describing it as a significant increase. Because those details conflict, the figure offers no reliable indication of short-selling pressure.
• Negative Sentiment: UBS cut its price target to $686 from $960 and shifted to a “neutral” rating, signaling a more cautious view of Lumentum’s prospects. UBS rating
• Negative Sentiment: Coverage of the proposed Marvell deal says Marvell’s share-price decline has lowered the implied value of its all-stock offer for Lumentum. That makes the deal’s consideration a potential source of pressure and uncertainty for LITE investors. Marvell deal analysis

Lumentum Stock Performance

NASDAQ:LITE opened at $585.57 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 1.61 and a debt-to-equity ratio of 0.01. The firm’s fifty day simple moving average is $881.57 and its 200 day simple moving average is $803.93. The stock has a market cap of $53.11 billion, a P/E ratio of -7.44 and a beta of 1.64. Lumentum Holdings Inc. has a twelve month low of $215.35 and a twelve month high of $1,143.00.

Lumentum (NASDAQ:LITE) last announced its earnings results on Monday, November 2nd. The technology company reported $4.57 earnings per share for the quarter, beating analysts’ consensus estimates of $4.22 by $0.35. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.26 billion. Lumentum had a negative net margin of 175.82% and a positive return on equity of 28.85%. The company’s revenue for the quarter was up 136.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.10 EPS. As a group, research analysts predict that Lumentum Holdings Inc. will post 19.93 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on LITE. Needham & Company LLC decreased their target price on shares of Lumentum from $1,040.00 to $800.00 and set a “buy” rating on the stock in a research note on Tuesday, November 3rd. Mizuho set a $1,132.00 price target on shares of Lumentum in a report on Monday, November 2nd. Zacks Research cut shares of Lumentum from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 12th. Stonex Financial raised shares of Lumentum to a “strong-buy” rating in a report on Monday, October 26th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Lumentum in a research report on Monday, August 31st. They issued a “buy” rating and a $1,200.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,053.17.

Insider Activity

In other Lumentum news, CFO Wajid Ali sold 24,542 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $1,048.50, for a total transaction of $25,732,287.00. Following the transaction, the chief financial officer owned 75,074 shares in the company, valued at approximately $78,715,089. This represents a 24.64% decrease in their position. The transaction was disclosed in a legal 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. Also, insider Yuen Wupen sold 307 shares of the stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $945.00, for a total value of $290,115.00. Following the completion of the transaction, the insider directly owned 108,320 shares of the company’s stock, valued at $102,362,400. This represents a 0.28% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 94,496 shares of company stock valued at $85,978,498 over the last 90 days. 0.28% of the stock is currently owned by company insiders.

Lumentum Profile

Lumentum Holdings Inc. develops and manufactures optical and photonic products used in communications networks and industrial applications. Its offerings include optical components, modules and lasers that help transmit and process data across telecommunications and data center networks. The company also supplies lasers and related technologies for industrial uses, including precision manufacturing and semiconductor production. Its products serve customers in markets around the world. Lumentum became an independent public company in 2015 through a spin-off from JDSU, now Viavi Solutions.