Lumentum Holdings Inc. $LITE Shares Bought by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB boosted its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 45.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,363 shares of the technology company’s stock after purchasing an additional 11,302 shares during the period. Lumentum comprises about 0.8% of E. Ohman J or Asset Management AB’s investment portfolio, making the stock its 25th biggest position. E. Ohman J or Asset Management AB’s holdings in Lumentum were worth $35,318,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of LITE. Jupiter Topco LLC purchased a new position in Lumentum in the 2nd quarter worth approximately $1,621,396,000. Amundi increased its position in Lumentum by 188.7% in the second quarter. Amundi now owns 658,427 shares of the technology company’s stock worth $564,970,000 after purchasing an additional 430,355 shares during the last quarter. WT Asset Management Ltd bought a new position in Lumentum during the second quarter valued at $494,688,000. Janus Henderson Group PLC raised its position in Lumentum by 163.2% during the first quarter. Janus Henderson Group PLC now owns 567,182 shares of the technology company’s stock valued at $398,590,000 after purchasing an additional 351,676 shares during the period. Finally, Legal & General Group Plc purchased a new stake in Lumentum during the 2nd quarter valued at $376,539,000. Institutional investors own 94.05% of the company’s stock.

Lumentum Price Performance

Shares of NASDAQ LITE opened at $752.54 on Friday. Lumentum Holdings Inc. has a 12 month low of $157.40 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. The firm’s 50 day simple moving average is $927.74 and its 200-day simple moving average is $878.60. The stock has a market capitalization of $68.17 billion, a price-to-earnings ratio of -9.15 and a beta of 1.53.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.26. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $987.70 million. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The firm’s revenue for the quarter was up 109.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 EPS. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Analysts expect that Lumentum Holdings Inc. will post 19.79 EPS for the current year.

Insider Buying and Selling at Lumentum

In other Lumentum news, insider Yuen Wupen sold 1,500 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was 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 directly owned 100,434 shares in the company, valued at $83,141,273.88. This represents a 1.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 business’s 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 transaction, the senior vice president owned 37,804 shares in the company, valued at $32,230,934.32. The trade was a 24.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 94,496 shares of company stock worth $85,978,498. 0.28% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LITE. Weiss Ratings downgraded Lumentum from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday, August 19th. Sanford C. Bernstein started coverage on Lumentum in a report on Wednesday, September 30th. They issued an “outperform” rating and a $1,220.00 price objective for the company. Citigroup boosted their price target on shares of Lumentum from $1,200.00 to $1,400.00 and gave the company a “buy” rating in a report on Monday, September 28th. JPMorgan Chase & Co. boosted their price objective on shares of Lumentum from $1,165.00 to $1,280.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Finally, Bank of America decreased their price objective on 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. Sixteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,080.83.

Lumentum Profile

Lumentum Holdings Inc is a technology company that designs and manufactures optical and photonic products for communications networks, industrial applications, and consumer electronics. Its portfolio includes optical components, modules, and subsystems used in fiber-optic networks, data centers, cloud computing infrastructure, telecommunications equipment, and high-speed connectivity systems.

The company also develops laser products for applications such as industrial processing, sensing, three-dimensional imaging, and other specialized commercial and consumer uses.