Prakash Investment Advisors LLC Buys New Shares in Lumentum Holdings Inc. $LITE

Prakash Investment Advisors LLC bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,100 shares of the technology company’s stock, valued at approximately $405,000.

Several other hedge funds have also made changes to their positions in LITE. Arrowstreet Capital Limited Partnership lifted its stake in shares of Lumentum by 8,579.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock valued at $254,350,000 after buying an additional 1,545,199 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Lumentum by 707.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company’s stock valued at $366,555,000 after buying an additional 871,249 shares during the period. Holocene Advisors LP bought a new stake in shares of Lumentum in the third quarter valued at about $136,401,000. WT Asset Management Ltd lifted its stake in shares of Lumentum by 170.0% in the third quarter. WT Asset Management Ltd now owns 710,208 shares of the technology company’s stock valued at $115,558,000 after buying an additional 447,208 shares during the period. Finally, FengHe Fund Management Pte. Ltd. bought a new stake in shares of Lumentum in the third quarter valued at about $71,771,000. Institutional investors own 94.05% of the company’s stock.

Insider Buying and Selling at Lumentum

In other news, CFO Wajid Ali sold 5,302 shares of Lumentum stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $691.13, for a total value of $3,664,371.26. Following the completion of the transaction, the chief financial officer owned 66,287 shares in the company, valued at approximately $45,812,934.31. The trade was a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Yuen Wupen sold 3,157 shares of Lumentum stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $538.00, for a total transaction of $1,698,466.00. Following the completion of the transaction, the insider owned 88,439 shares of the company’s stock, valued at $47,580,182. This trade represents a 3.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 65,775 shares of company stock worth $38,851,343 in the last three months. 0.43% of the stock is currently owned by company insiders.

Lumentum Stock Up 0.1%

Shares of LITE opened at $895.11 on Tuesday. The stock has a market cap of $63.91 billion, a price-to-earnings ratio of 274.57 and a beta of 1.38. The company has a quick ratio of 0.45, a current ratio of 0.61 and a debt-to-equity ratio of 0.06. Lumentum Holdings Inc. has a 12 month low of $49.13 and a 12 month high of $960.00. The company has a 50-day moving average price of $716.61 and a two-hundred day moving average price of $447.12.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Tuesday, February 3rd. The technology company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.26. The firm had revenue of $665.50 million during the quarter, compared to analysts’ expectations of $646.74 million. Lumentum had a net margin of 11.95% and a return on equity of 17.27%. The company’s revenue for the quarter was up 65.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 earnings per share. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. Equities analysts predict that Lumentum Holdings Inc. will post 5.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LITE shares. Barclays increased their target price on shares of Lumentum to $750.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd. Rosenblatt Securities reiterated a “buy” rating and issued a $900.00 target price on shares of Lumentum in a research note on Wednesday, March 18th. Northland Securities set a $1,000.00 price target on shares of Lumentum in a research note on Monday. Needham & Company LLC raised their price target on shares of Lumentum to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Finally, Citigroup raised their price target on shares of Lumentum to $560.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $711.63.

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.