Baader Bank Aktiengesellschaft Sells 1,086 Shares of Lumentum Holdings Inc. $LITE

Baader Bank Aktiengesellschaft lessened its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 16.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,683 shares of the technology company’s stock after selling 1,086 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Lumentum were worth $3,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of LITE. Arrowstreet Capital Limited Partnership lifted its position in Lumentum by 18.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,854,801 shares of the technology company’s stock valued at $683,661,000 after purchasing an additional 291,591 shares in the last quarter. Geode Capital Management LLC increased its position in Lumentum by 9.6% in the fourth quarter. Geode Capital Management LLC now owns 1,412,213 shares of the technology company’s stock worth $521,563,000 after buying an additional 123,265 shares in the last quarter. Situational Awareness LP increased its position in Lumentum by 210.9% in the fourth quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock worth $478,577,000 after buying an additional 880,800 shares in the last quarter. Norges Bank bought a new position in shares of Lumentum in the fourth quarter worth about $474,495,000. Finally, Value Aligned Research Advisors LLC bought a new position in shares of Lumentum in the fourth quarter worth about $432,062,000. Institutional investors own 94.05% of the company’s stock.

Analyst Ratings Changes

LITE has been the topic of several analyst reports. TD Cowen lowered their price target on shares of Lumentum from $995.00 to $800.00 and set a “hold” rating on the stock in a report on Monday, July 13th. Loop Capital increased their price objective on shares of Lumentum from $900.00 to $1,400.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Barclays raised their price objective on shares of Lumentum from $750.00 to $1,000.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Northland Securities upped their target price on shares of Lumentum from $1,000.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $1,200.00 target price on shares of Lumentum in a report on Wednesday, May 6th. Fourteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,012.67.

Insider Activity at Lumentum

In other Lumentum news, Director Brian Lillie sold 11,951 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $981.64, for a total value of $11,731,579.64. Following the sale, the director owned 13,959 shares in the company, valued at $13,702,712.76. This trade represents a 46.13% decrease in their ownership of the stock. 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, Director Isaac Hosojiro Harris sold 4,000 shares of Lumentum stock in a transaction on Friday, May 29th. The stock was sold at an average price of $860.00, for a total value of $3,440,000.00. Following the sale, the director owned 8,400 shares of the company’s stock, valued at approximately $7,224,000. This trade represents a 32.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 41,260 shares of company stock worth $38,859,220 over the last quarter. 0.43% of the stock is owned by insiders.

Lumentum Stock Up 4.5%

Shares of NASDAQ LITE opened at $765.55 on Tuesday. 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 company has a market cap of $59.56 billion, a P/E ratio of 141.77 and a beta of 1.48. Lumentum Holdings Inc. has a 1 year low of $97.55 and a 1 year high of $1,085.68. The firm has a 50-day simple moving average of $859.31 and a two-hundred day simple moving average of $715.91.

Lumentum (NASDAQ:LITE) last announced its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.10. The business had revenue of $808.40 million during the quarter, compared to analyst estimates of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The company’s revenue for the quarter was up 90.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Research analysts anticipate that Lumentum Holdings Inc. will post 6.42 earnings per share for the current 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.