20,800 Shares in Lumentum Holdings Inc. $LITE Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) during the second quarter, HoldingsChannel reports. The fund acquired 20,800 shares of the technology company’s stock, valued at approximately $17,848,000.

Other institutional investors also recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its stake in shares of Lumentum by 36.8% in the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock worth $59,000 after acquiring an additional 254 shares during the period. NewEdge Advisors LLC increased its stake in shares of Lumentum by 109.9% during the first quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company’s stock worth $747,000 after acquiring an additional 6,275 shares during the period. Empowered Funds LLC increased its stake in shares of Lumentum by 9.1% during the first quarter. Empowered Funds LLC now owns 8,139 shares of the technology company’s stock worth $507,000 after acquiring an additional 680 shares during the period. Hsbc Holdings PLC purchased a new position in Lumentum during the second quarter worth about $298,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Lumentum during the second quarter worth about $1,712,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LITE has been the subject of a number of recent analyst reports. Weiss Ratings downgraded shares of Lumentum from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday, August 19th. Northland Securities boosted their target price on Lumentum from $1,000.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Mizuho increased their target price on Lumentum from $1,100.00 to $1,140.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. JPMorgan Chase & Co. raised their price target on Lumentum from $1,165.00 to $1,280.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Finally, Wolfe Research restated an “outperform” rating on shares of Lumentum in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Lumentum currently has a consensus rating of “Moderate Buy” and an average price target of $1,053.83.

Insider Transactions at Lumentum

In related news, insider Vincent Retort sold 38,663 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 33.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Hurlston sold 548 shares of Lumentum stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $958.66, for a total value of $525,345.68. Following the transaction, the chief executive officer directly owned 186,951 shares of the company’s stock, valued at approximately $179,222,445.66. This represents a 0.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 65,147 shares of company stock worth $55,812,856. 0.43% of the stock is currently owned by insiders.

Lumentum Price Performance

Shares of NASDAQ LITE opened at $881.26 on Tuesday. The stock has a market capitalization of $79.05 billion, a price-to-earnings ratio of -10.72 and a beta of 1.53. Lumentum Holdings Inc. has a 52 week low of $144.20 and a 52 week high of $1,085.68. The firm has a 50-day moving average price of $815.21 and a 200 day moving average price of $819.50. The company has a quick ratio of 1.40, a current ratio of 1.68 and a debt-to-equity ratio of 0.01.

Lumentum (NASDAQ:LITE) last issued its earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.26. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $987.70 million. During the same period in the prior year, the business posted $0.88 earnings per share. The firm’s revenue for the quarter was up 109.3% compared to the same quarter last year. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Equities research analysts anticipate that Lumentum Holdings Inc. will post 19.78 EPS for the current fiscal year.

Lumentum Company 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.