Cigna Investments Inc. New Takes $250,000 Position in Lumentum Holdings Inc. $LITE

Cigna Investments Inc. New purchased a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 679 shares of the technology company’s stock, valued at approximately $250,000.

A number of other large investors also recently bought and sold shares of LITE. Advisors Asset Management Inc. increased its stake in Lumentum by 36.8% in the first quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock worth $59,000 after purchasing an additional 254 shares during the period. NewEdge Advisors LLC grew its holdings in shares of Lumentum by 109.9% in the first 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 during the last quarter. Empowered Funds LLC grew its stake 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 acquiring an additional 680 shares in the last quarter. Prudential Financial Inc. grew its stake in Lumentum by 21.3% in the second quarter. Prudential Financial Inc. now owns 7,327 shares of the technology company’s stock worth $697,000 after purchasing an additional 1,288 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Lumentum by 53.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,682 shares of the technology company’s stock worth $540,000 after purchasing an additional 1,986 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on LITE. UBS Group upped their target price on Lumentum from $215.00 to $455.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Barclays lifted their price objective on Lumentum to $750.00 and gave the company an “equal weight” rating in a report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Lumentum in a research note on Monday, December 29th. Rosenblatt Securities reiterated a “buy” rating and set a $900.00 target price on shares of Lumentum in a report on Wednesday, March 18th. Finally, Bank of America raised their target price on shares of Lumentum to $520.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $575.06.

Lumentum Stock Performance

Shares of NASDAQ LITE opened at $826.88 on Friday. Lumentum Holdings Inc. has a 1-year low of $45.65 and a 1-year high of $827.56. The business has a fifty day moving average price of $622.91 and a 200 day moving average price of $391.32. The stock has a market capitalization of $59.04 billion, a P/E ratio of 253.64 and a beta of 1.38. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.61 and a quick ratio of 0.45.

Lumentum (NASDAQ:LITE) last posted its earnings results on Tuesday, February 3rd. The technology company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.26. The company had revenue of $665.50 million for the quarter, compared to analyst estimates of $646.74 million. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.The firm’s quarterly revenue was up 65.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 earnings per share. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. Equities research analysts expect that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Insider Activity

In related news, Director Penny Herscher sold 4,849 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $535.48, for a total transaction of $2,596,542.52. Following the completion of the transaction, the director owned 6,057 shares in the company, valued at $3,243,402.36. The trade was a 44.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Wajid Ali sold 5,302 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $691.13, for a total value of $3,664,371.26. Following the sale, the chief financial officer owned 66,287 shares of the company’s stock, valued at approximately $45,812,934.31. This represents a 7.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 65,775 shares of company stock worth $38,851,343 in the last quarter. 0.43% of the stock is currently owned by corporate insiders.

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.