Retirement Systems of Alabama Buys 2,236 Shares of Lumentum Holdings Inc. $LITE

Retirement Systems of Alabama lifted its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 13.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,579 shares of the technology company’s stock after acquiring an additional 2,236 shares during the period. Retirement Systems of Alabama’s holdings in Lumentum were worth $18,045,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of LITE. Financiere des Professionnels Fonds d investissement inc. acquired a new position in Lumentum in the first quarter valued at approximately $2,046,000. Styrax Capital LP grew its position in Lumentum by 3.6% in the first quarter. Styrax Capital LP now owns 140,000 shares of the technology company’s stock worth $98,386,000 after acquiring an additional 4,837 shares during the period. Swiss National Bank grew its position in Lumentum by 47.2% in the first quarter. Swiss National Bank now owns 208,015 shares of the technology company’s stock worth $146,185,000 after acquiring an additional 66,700 shares during the period. Franchise GP Ltd increased its stake in Lumentum by 201.7% during the third quarter. Franchise GP Ltd now owns 13,880 shares of the technology company’s stock worth $13,481,000 after acquiring an additional 9,280 shares during the last quarter. Finally, E. Ohman J or Asset Management AB increased its stake in Lumentum by 944.2% during the second quarter. E. Ohman J or Asset Management AB now owns 25,061 shares of the technology company’s stock worth $21,504,000 after acquiring an additional 22,661 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Activity

In other Lumentum news, insider Vincent Retort sold 38,663 shares of Lumentum stock in a transaction dated Tuesday, August 25th. The stock was 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 directly owned 78,440 shares of the company’s stock, valued at $66,877,159.60. The trade was a 33.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jae Kim sold 12,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $852.58, for a total transaction of $10,230,960.00. Following the sale, the senior vice president owned 37,804 shares in the company, valued at $32,230,934.32. This trade represents a 24.09% 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. Insiders have sold 94,496 shares of company stock worth $85,978,498 in the last quarter. Insiders own 0.28% of the company’s stock.

Key Headlines Impacting Lumentum

These are some of the LITE headlines that stood out recently:

• Positive Sentiment: Sanford C. Bernstein raised its price target from $635 to $700 and maintained an “outperform” rating, signaling a more favorable analyst view. Lumentum Holdings Stock Price Target 2026
• Neutral Sentiment: Brodsky & Smith announced an investigation involving Lumentum. The notice provides few details, so its potential financial or legal impact is unclear. Shareholder investigation notice
• Negative Sentiment: Shares slipped before the market opened as investors and deal experts gave a lukewarm early reaction to Marvell’s reported acquisition plan, raising uncertainty around the transaction. Lumentum Slips on Deal Reaction; Stock Movers

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. UBS Group decreased their price target on Lumentum from $960.00 to $686.00 and set a “neutral” rating on the stock in a research note on Tuesday. Sanford C. Bernstein increased their price target on Lumentum from $635.00 to $700.00 and gave the stock an “outperform” rating in a report on Tuesday. Wolfe Research reissued an “outperform” rating on shares of Lumentum in a research report on Friday, August 21st. B. Riley Financial lowered shares of Lumentum from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $1,142.00 to $770.00 in a report on Tuesday, November 3rd. Finally, TD Cowen reduced their price objective on shares of Lumentum from $820.00 to $685.00 and set a “hold” rating on the stock in a report on Tuesday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,053.17.

Lumentum Stock Up 10.7%

Lumentum stock opened at $648.06 on Thursday. The company has a market capitalization of $58.78 billion, a PE ratio of -8.23 and a beta of 1.64. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.27 and a current ratio of 1.61. Lumentum Holdings Inc. has a fifty-two week low of $215.35 and a fifty-two week high of $1,143.00. The firm has a 50 day moving average price of $877.15 and a 200 day moving average price of $805.47.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Monday, November 2nd. The technology company reported $4.57 EPS for the quarter, topping analysts’ consensus estimates of $4.22 by $0.35. Lumentum had a positive return on equity of 28.85% and a negative net margin of 175.82%. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the firm earned $1.10 earnings per share. The firm’s revenue was up 136.5% compared to the same quarter last year. Research analysts expect that Lumentum Holdings Inc. will post 19.93 earnings per share for the current year.

Lumentum Company 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.