Ariose Capital Management Ltd acquired a new position in Lumentum Holdings Inc. (NASDAQ:LITE – Free Report) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 9,805 shares of the technology company’s stock, valued at approximately $9,523,000. Lumentum comprises about 11.3% of Ariose Capital Management Ltd’s holdings, making the stock its 3rd largest holding.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LITE. Alta Advisers Ltd raised its position in Lumentum by 110.4% during the third quarter. Alta Advisers Ltd now owns 646 shares of the technology company’s stock valued at $627,000 after purchasing an additional 339 shares in the last quarter. Glaxis Capital Management LLC bought a new stake in Lumentum during the 3rd quarter valued at $1,263,000. Kestra Advisory Services LLC lifted its stake in Lumentum by 0.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 6,759 shares of the technology company’s stock valued at $6,565,000 after buying an additional 25 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Lumentum by 223.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 22,490 shares of the technology company’s stock worth $21,844,000 after acquiring an additional 15,536 shares in the last quarter. Finally, TFB Advisors LLC grew its position in shares of Lumentum by 5.6% during the third quarter. TFB Advisors LLC now owns 607 shares of the technology company’s stock worth $590,000 after acquiring an additional 32 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.
Insider Buying and Selling at Lumentum
In related news, SVP Jae Kim sold 12,000 shares of Lumentum stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $852.58, for a total value of $10,230,960.00. Following the completion of the transaction, the senior vice president directly owned 37,804 shares in the company, valued at approximately $32,230,934.32. This trade represents a 24.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael E. Hurlston sold 548 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $958.66, for a total transaction of $525,345.68. Following the sale, the chief executive officer owned 186,951 shares of the company’s stock, valued at $179,222,445.66. This trade represents a 0.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 94,496 shares of company stock worth $85,978,498. Insiders own 0.28% of the company’s stock.
Lumentum Stock Up 5.7%
LITE opened at $538.59 on Friday. The stock has a market cap of $48.79 billion, a P/E ratio of -6.84 and a beta of 1.64. The stock’s 50 day moving average price is $894.13 and its 200 day moving average price is $801.60. Lumentum Holdings Inc. has a 12 month low of $215.35 and a 12 month high of $1,143.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.68 and a quick ratio of 1.40.
Lumentum (NASDAQ:LITE – Get Free Report) last posted its earnings results on Monday, November 2nd. The technology company reported $4.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.22 by $0.35. Lumentum had a positive return on equity of 33.33% and a negative net margin of 175.82%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the company earned $1.10 EPS. The company’s revenue for the quarter was up 136.5% compared to the same quarter last year. As a group, research analysts predict that Lumentum Holdings Inc. will post 19.80 earnings per share for the current year.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the stock. Mizuho set a $1,132.00 price target on shares of Lumentum in a research report on Monday. Jefferies Financial Group upped their price objective on Lumentum from $1,200.00 to $1,250.00 and gave the company a “buy” rating in a report on Tuesday, October 20th. Morgan Stanley increased their target price on Lumentum from $900.00 to $1,000.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 12th. Stifel Nicolaus set a $806.00 price objective on Lumentum in a report on Monday. Finally, Stonex Financial raised shares of Lumentum to a “strong-buy” rating in a report on Monday, October 26th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,081.61.
Read Our Latest Analysis on Lumentum
Lumentum News Summary
Here are the key news stories impacting Lumentum this week:
- Positive Sentiment: Some commentary sees Lumentum as potentially undervalued after Marvell agreed to acquire it, arguing the deal highlights demand for optical interconnects—a potential bottleneck in AI data centers. Lumentum’s shares also rose alongside a broader recovery in optical stocks. Article: Lumentum Holdings Could Be 90% Undervalued Following The Marvell Deal Article: Optical stocks rally
- Neutral Sentiment: The proposed all-stock Marvell deal values Lumentum at about $115 billion, with Lumentum shareholders set to receive 4.5 Marvell shares per share. That is not a fixed cash offer: its implied value will move with Marvell’s stock. The transaction is expected to take time to close and remains subject to regulatory approval. Article: Marvell Agreed to Pay $1,132 a Share for Lumentum
- Positive Sentiment: A bullish technical view says Lumentum is oversold after a steep decline, while analysts’ earnings-estimate increases could support a recovery. Article: Lumentum is Poised for a Turnaround
- Negative Sentiment: Recent pressure reflects a broader sell-off in AI and optical shares, alongside analyst downgrades and lower price expectations. The sharp recent declines suggest investors remain cautious despite the proposed acquisition and the latest rebound. Article: Lumentum Shares Down After Analyst Downgrade Article: AI optical stocks slide
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.
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