Lumentum Holdings Inc. $LITE Stock: New York Life Investment Management LLC Increases Holdings

New York Life Investment Management LLC grew its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 13.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,077 shares of the technology company’s stock after purchasing an additional 1,566 shares during the quarter. New York Life Investment Management LLC’s holdings in Lumentum were worth $12,701,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Jupiter Topco LLC bought a new stake in shares of Lumentum during the 2nd quarter worth $1,621,396,000. WT Asset Management Ltd acquired a new position in Lumentum in the 2nd quarter valued at $494,688,000. Legal & General Group Plc bought a new position in Lumentum in the 2nd quarter worth $376,539,000. Amundi raised its holdings in Lumentum by 188.7% in the 2nd quarter. Amundi now owns 658,427 shares of the technology company’s stock worth $564,970,000 after acquiring an additional 430,355 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in Lumentum by 163.2% in the 1st quarter. Janus Henderson Group PLC now owns 567,182 shares of the technology company’s stock worth $398,590,000 after acquiring an additional 351,676 shares during the period. Institutional investors own 94.05% of the company’s stock.

Insider Activity at Lumentum

In related news, insider Yuen Wupen sold 1,500 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $827.82, for a total value of $1,241,730.00. Following the completion of the sale, the insider owned 100,434 shares in the company, valued at approximately $83,141,273.88. This trade represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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. Also, SVP Jae Kim sold 12,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $852.58, for a total transaction of $10,230,960.00. Following the completion of the sale, the senior vice president owned 37,804 shares of the company’s stock, valued at approximately $32,230,934.32. The trade was a 24.09% 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. In the last 90 days, insiders have sold 94,496 shares of company stock worth $85,978,498. Insiders own 0.28% of the company’s stock.

Lumentum Trading Up 10.7%

Shares of Lumentum stock opened at $648.06 on Thursday. The company’s fifty day simple moving average is $877.15 and its 200-day simple moving average is $805.47. The company has a market cap of $58.78 billion, a price-to-earnings ratio of -8.23 and a beta of 1.64. The company has a current ratio of 1.61, a quick ratio of 1.27 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a 1 year low of $215.35 and a 1 year high of $1,143.00.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Evercore assumed coverage on shares of Lumentum in a research report on Monday, August 31st. They set an “outperform” rating and a $1,100.00 target price for the company. UBS Group lowered their price target on Lumentum from $960.00 to $686.00 and set a “neutral” rating on the stock in a research report on Tuesday. Raymond James Financial upgraded Lumentum from a “moderate buy” rating to a “strong-buy” rating and set a $1,328.00 price objective on the stock in a research note on Monday, November 2nd. Stonex Financial raised Lumentum to a “strong-buy” rating in a research report on Monday, October 26th. Finally, Mizuho set a $1,132.00 price objective on Lumentum in a research report on Monday, November 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,053.17.

Recent Lumentum Headlines

Investors following LITE have been watching these headlines:

• Positive Sentiment: Lumentum rose as technology shares rallied broadly, providing a market-driven boost to the stock. Lumentum rises 15% amid broad technology rally
• 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: UBS cut its price target from $960 to $686 and assigned a “neutral” rating, reflecting reduced upside expectations. Lumentum Holdings Stock Price Target 2026

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.