OVERSEA CHINESE BANKING Corp Ltd Acquires New Shares in Lumentum Holdings Inc. $LITE

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Lumentum Holdings Inc. (NASDAQ:LITE) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,237 shares of the technology company’s stock, valued at approximately $7,926,000.

Other hedge funds have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its holdings 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 buying an additional 291,591 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Lumentum by 9.6% during the 4th quarter. Geode Capital Management LLC now owns 1,412,213 shares of the technology company’s stock worth $521,563,000 after acquiring an additional 123,265 shares in the last quarter. Situational Awareness LP increased its holdings in shares of Lumentum by 210.9% during the 4th quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock valued at $478,577,000 after acquiring an additional 880,800 shares during the last quarter. Norges Bank acquired a new position in shares of Lumentum during the 4th quarter valued at about $474,495,000. Finally, Value Aligned Research Advisors LLC bought a new position in shares of Lumentum in the 4th quarter valued at approximately $432,062,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Lumentum Price Performance

Shares of NASDAQ:LITE opened at $879.28 on Friday. The business has a 50 day moving average price of $810.86 and a 200 day moving average price of $789.68. Lumentum Holdings Inc. has a twelve month low of $115.21 and a twelve month high of $1,085.68. The company has a market cap of $78.87 billion, a price-to-earnings ratio of -10.70 and a beta of 1.50. 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 quarterly earnings results on Tuesday, August 11th. The technology company reported $3.23 EPS for the quarter, topping the consensus estimate of $2.97 by $0.26. Lumentum had a positive return on equity of 26.34% and a negative net margin of 230.15%.The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $987.70 million. During the same period in the previous year, the business posted $0.88 EPS. The company’s revenue for the quarter was up 109.3% on a year-over-year basis. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Research analysts predict that Lumentum Holdings Inc. will post 16.95 earnings per share for the current year.

Insider Transactions at Lumentum

In other news, Director Isaac Hosojiro Harris sold 1,416 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $1,000.08, for a total value of $1,416,113.28. Following the sale, the director owned 6,984 shares in the company, valued at approximately $6,984,558.72. This trade represents a 16.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vincent Retort sold 3,183 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $909.43, for a total transaction of $2,894,715.69. Following the transaction, the insider directly owned 114,495 shares in the company, valued at $104,125,187.85. This trade represents a 2.70% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 9,965 shares of company stock worth $8,993,110. Insiders own 0.43% of the company’s stock.

Analyst Upgrades and Downgrades

LITE has been the subject of several analyst reports. Raymond James Financial restated an “outperform” rating and issued a $1,036.00 target price on shares of Lumentum in a report on Wednesday, August 12th. Northland Securities increased their price target on Lumentum from $1,000.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. B. Riley Financial reissued a “buy” rating on shares of Lumentum in a research report on Friday, May 1st. Bank of America reduced their price objective on shares of Lumentum from $1,100.00 to $1,000.00 and set a “neutral” rating for the company in a research note on Wednesday, August 12th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Lumentum from $1,165.00 to $1,280.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Lumentum presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,044.67.

Lumentum 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.