Pictet Asset Management Holding SA Acquires 24,692 Shares of Lumentum Holdings Inc. $LITE

Pictet Asset Management Holding SA grew its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 232.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 35,316 shares of the technology company’s stock after buying an additional 24,692 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Lumentum were worth $24,810,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in LITE. Pinnacle Wealth Management Advisory Group LLC bought a new position in shares of Lumentum during the first quarter valued at approximately $3,160,000. Louisiana State Employees Retirement System bought a new position in Lumentum in the first quarter worth about $2,530,000. Silver Oak Securities Incorporated bought a new position in Lumentum in the first quarter worth about $408,000. Kestra Private Wealth Services LLC purchased a new stake in Lumentum in the first quarter worth about $835,000. Finally, Ritholtz Wealth Management boosted its position in Lumentum by 18.1% during the 1st quarter. Ritholtz Wealth Management now owns 815 shares of the technology company’s stock valued at $573,000 after acquiring an additional 125 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

Lumentum Stock Performance

LITE stock opened at $801.16 on Thursday. Lumentum Holdings Inc. has a 12-month low of $88.37 and a 12-month high of $1,085.68. The stock’s 50 day simple moving average is $897.63 and its 200 day simple moving average is $680.63. 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 stock has a market capitalization of $62.33 billion, a PE ratio of 148.36 and a beta of 1.48.

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

Insider Activity

In other news, insider Vincent Retort sold 3,183 shares of the business’s stock in a transaction that occurred 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 directly owned 89,563 shares of the company’s stock, valued at $85,438,623.85. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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. Also, SVP Jae Kim sold 1,422 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $1,356,516.90. Following the transaction, the senior vice president owned 32,333 shares in the company, valued at approximately $30,844,065.35. This trade represents a 4.21% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 41,260 shares of company stock worth $38,859,220. 0.43% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LITE has been the subject of several research reports. TD Cowen increased their target price on Lumentum from $875.00 to $995.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Rosenblatt Securities increased their price objective on Lumentum from $900.00 to $1,300.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Jefferies Financial Group restated a “buy” rating and set a $1,200.00 target price on shares of Lumentum in a report on Wednesday, May 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Lumentum in a research report on Tuesday, April 21st. Finally, B. Riley Financial restated a “buy” rating on shares of Lumentum in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Lumentum has a consensus rating of “Moderate Buy” and an average target price of $1,021.95.

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.