OMERS ADMINISTRATION Corp Buys Shares of 739 Lumentum Holdings Inc. $LITE

OMERS ADMINISTRATION Corp purchased a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 739 shares of the technology company’s stock, valued at approximately $519,000.

A number of other hedge funds have also modified their holdings of the stock. Sachetta LLC raised its holdings in shares of Lumentum by 118.8% during the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after acquiring an additional 19 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new stake in Lumentum during the first quarter valued at $25,000. Abel Hall LLC boosted its position in Lumentum by 5.5% during the first quarter. Abel Hall LLC now owns 693 shares of the technology company’s stock valued at $487,000 after purchasing an additional 36 shares during the last quarter. Checchi Capital Advisers LLC grew its stake in Lumentum by 5.1% in the first quarter. Checchi Capital Advisers LLC now owns 790 shares of the technology company’s stock valued at $555,000 after purchasing an additional 38 shares in the last quarter. Finally, 180 Wealth Advisors LLC grew its stake in Lumentum by 2.9% in the first quarter. 180 Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock valued at $1,092,000 after purchasing an additional 44 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Lumentum news, insider Vincent Retort sold 3,183 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $3,036,422.85. Following the transaction, the insider owned 89,563 shares in the company, valued at $85,438,623.85. This trade represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 1,422 shares of Lumentum stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $1,356,516.90. Following the completion of the transaction, the senior vice president directly owned 32,333 shares in the company, valued at approximately $30,844,065.35. This represents a 4.21% 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 ninety days, insiders have sold 41,260 shares of company stock valued at $38,859,220. Insiders own 0.43% of the company’s stock.

Lumentum Stock Performance

LITE opened at $713.94 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14. The company has a market cap of $55.54 billion, a PE ratio of 132.21 and a beta of 1.48. The stock has a 50-day moving average of $821.07 and a 200-day moving average of $736.55. Lumentum Holdings Inc. has a 52-week low of $101.61 and a 52-week high of $1,085.68.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Craig Hallum raised their price target on Lumentum from $900.00 to $1,150.00 in a research note on Wednesday, May 6th. Jefferies Financial Group reiterated a “buy” rating and set a $1,200.00 price target on shares of Lumentum in a report on Wednesday, May 6th. Citigroup reissued a “buy” rating on shares of Lumentum in a research note on Thursday, July 16th. Rosenblatt Securities increased their price objective on Lumentum from $900.00 to $1,300.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, UBS Group raised their price objective on shares of Lumentum from $455.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Fourteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Lumentum currently has a consensus rating of “Moderate Buy” and an average target price of $1,012.67.

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.