Amundi Sells 924,816 Shares of Lumentum Holdings Inc. $LITE

Amundi lessened its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 80.2% during the 1st quarter, Holdings Channel.com reports. The firm owned 228,072 shares of the technology company’s stock after selling 924,816 shares during the quarter. Amundi’s holdings in Lumentum were worth $160,280,000 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. Hilton Head Capital Partners LLC bought a new position in Lumentum in the first quarter worth $25,000. Sachetta LLC increased its holdings in Lumentum by 118.8% in the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after buying an additional 19 shares during the period. Wiser Advisor Group LLC increased its holdings in Lumentum by 6,000.0% in the 1st quarter. Wiser Advisor Group LLC now owns 61 shares of the technology company’s stock valued at $43,000 after buying an additional 60 shares during the period. SJS Investment Consulting Inc. increased its holdings in Lumentum by 687.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 63 shares of the technology company’s stock valued at $44,000 after buying an additional 55 shares during the period. Finally, Truvestments Capital LLC raised its stake in shares of Lumentum by 300.0% in the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after buying an additional 57 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

Insider Transactions at Lumentum

In other news, Director Brian Lillie sold 11,951 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $981.64, for a total transaction of $11,731,579.64. Following the completion of the sale, the director owned 13,959 shares of the company’s stock, valued at approximately $13,702,712.76. This trade represents a 46.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 3,210 shares of Lumentum 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 $3,062,179.50. Following the completion of the transaction, the insider owned 81,488 shares of the company’s stock, valued at $77,735,477.60. This trade represents a 3.79% 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 sold 41,260 shares of company stock valued at $38,859,220. 0.43% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LITE shares. Barclays raised their price objective on shares of Lumentum from $750.00 to $1,000.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Rosenblatt Securities upped their target price on shares of Lumentum from $900.00 to $1,300.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. BNP Paribas Exane increased their price target on shares of Lumentum from $1,040.00 to $1,300.00 in a research report on Wednesday, May 6th. Zacks Research cut shares of Lumentum from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Northland Securities lifted their price objective on Lumentum from $1,000.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Fourteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,012.67.

Lumentum Stock Up 3.0%

Shares of NASDAQ LITE opened at $713.94 on Friday. Lumentum Holdings Inc. has a 52-week low of $101.61 and a 52-week high of $1,085.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14. The business has a fifty day moving average of $821.07 and a two-hundred day moving average of $736.55. The stock has a market cap of $55.54 billion, a PE ratio of 132.21 and a beta of 1.48.

Lumentum (NASDAQ:LITE) last posted its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.10. The business had revenue of $808.40 million for the quarter, compared to analyst estimates of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The firm’s quarterly revenue was up 90.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, equities research analysts expect that Lumentum Holdings Inc. will post 6.42 earnings per share for the current fiscal year.

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.