Lombard Odier Asset Management Switzerland SA Acquires New Shares in Lumentum Holdings Inc. $LITE

Lombard Odier Asset Management Switzerland SA bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,381 shares of the technology company’s stock, valued at approximately $971,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its holdings in shares of Lumentum by 36.8% during the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock valued at $59,000 after acquiring an additional 254 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Lumentum by 109.9% in the 1st quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company’s stock worth $747,000 after purchasing an additional 6,275 shares in the last quarter. Empowered Funds LLC increased its holdings in Lumentum by 9.1% in the 1st quarter. Empowered Funds LLC now owns 8,139 shares of the technology company’s stock worth $507,000 after purchasing an additional 680 shares in the last quarter. Hsbc Holdings PLC bought a new position in Lumentum in the second quarter valued at about $298,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in Lumentum in the second quarter valued at about $1,712,000. Institutional investors own 94.05% of the company’s stock.

Lumentum Stock Down 6.7%

Shares of NASDAQ:LITE opened at $711.96 on Tuesday. The company has a market capitalization of $55.39 billion, a price-to-earnings ratio of 131.84 and a beta of 1.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. The business’s 50-day moving average is $841.23 and its 200-day moving average is $730.69. Lumentum Holdings Inc. has a 1 year low of $101.61 and a 1 year high of $1,085.68.

Lumentum (NASDAQ:LITE) last announced 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 company had revenue of $808.40 million for the quarter, compared to analyst estimates of $810.21 million. During the same quarter in the prior year, the company earned $0.57 EPS. The firm’s revenue for the quarter was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Equities research analysts predict that Lumentum Holdings Inc. will post 6.42 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on LITE. Zacks Research cut Lumentum from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Loop Capital raised their price objective on shares of Lumentum from $900.00 to $1,400.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Morgan Stanley raised their price objective on shares of Lumentum from $710.00 to $900.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. UBS Group boosted their target price on shares of Lumentum from $455.00 to $960.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, Craig Hallum upped their price target on shares of Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. Fourteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,012.67.

Insider Transactions at Lumentum

In other Lumentum news, Director Brian Lillie sold 11,951 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $981.64, for a total transaction of $11,731,579.64. Following the transaction, the director directly owned 13,959 shares in the company, valued at approximately $13,702,712.76. This represents a 46.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vincent Retort sold 3,183 shares of the firm’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 $3,036,422.85. Following the sale, the insider directly owned 89,563 shares of the company’s stock, valued at approximately $85,438,623.85. This trade represents a 3.43% decrease in their position. The SEC filing for this sale provides additional information. 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. In 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 insiders.

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.