California State Teachers Retirement System Acquires 14,737 Shares of Lumentum Holdings Inc. $LITE

California State Teachers Retirement System lifted its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 21.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 82,030 shares of the technology company’s stock after acquiring an additional 14,737 shares during the period. California State Teachers Retirement System’s holdings in Lumentum were worth $57,647,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of LITE. Regal Partners Ltd bought a new stake in Lumentum in the 1st quarter valued at about $1,415,000. Empowered Funds LLC lifted its position in Lumentum by 21.5% during the first quarter. Empowered Funds LLC now owns 5,075 shares of the technology company’s stock worth $3,567,000 after purchasing an additional 899 shares during the period. FACT Capital LP acquired a new stake in shares of Lumentum during the 1st quarter worth approximately $1,316,000. JAT Capital Mgmt LP bought a new stake in Lumentum during the first quarter worth $2,108,000. Finally, Estuary Capital Management LP acquired a new stake in shares of Lumentum in the 1st quarter valued at $37,070,000. 94.05% of the stock is owned by institutional investors.

Lumentum Trading Up 15.1%

Shares of LITE stock opened at $693.24 on Friday. Lumentum Holdings Inc. has a twelve month low of $101.61 and a twelve month high of $1,085.68. The stock’s fifty day simple moving average is $825.72 and its 200 day simple moving average is $736.71. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $53.93 billion, a P/E ratio of 128.38 and a beta of 1.48.

Lumentum (NASDAQ:LITE) last posted its earnings results 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 firm had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. During the same period last year, the company earned $0.57 earnings per share. The business’s quarterly revenue was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, sell-side analysts predict that Lumentum Holdings Inc. will post 6.42 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Isaac Hosojiro Harris sold 4,000 shares of Lumentum stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $860.00, for a total transaction of $3,440,000.00. Following the sale, the director directly owned 8,400 shares in the company, valued at $7,224,000. This trade represents a 32.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 3,210 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $3,062,179.50. Following the sale, the insider directly owned 81,488 shares in the company, valued at $77,735,477.60. The trade was a 3.79% decrease in their ownership of the stock. 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. Insiders have sold 41,260 shares of company stock worth $38,859,220 over the last quarter. 0.43% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Lumentum in a research note on Friday, July 17th. B. Riley Financial reaffirmed a “buy” rating on shares of Lumentum in a research note on Friday, May 1st. BNP Paribas Exane boosted their target price on Lumentum from $1,040.00 to $1,300.00 in a research note on Wednesday, May 6th. Craig Hallum increased their target price on shares of Lumentum from $900.00 to $1,150.00 in a report on Wednesday, May 6th. Finally, Barclays raised their price target on shares of Lumentum from $750.00 to $1,000.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Lumentum has an average rating of “Moderate Buy” and a consensus target price of $1,012.67.

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.