Pinkerton Wealth LLC bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE – Free Report) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 4,213 shares of the technology company’s stock, valued at approximately $1,553,000.
Several other institutional investors have also recently made changes to their positions in the business. IFP Advisors Inc raised its holdings in shares of Lumentum by 9.6% during the fourth quarter. IFP Advisors Inc now owns 822 shares of the technology company’s stock worth $303,000 after purchasing an additional 72 shares during the last quarter. Intrust Bank NA purchased a new position in shares of Lumentum during the fourth quarter worth $219,000. Banque Cantonale Vaudoise purchased a new position in shares of Lumentum during the fourth quarter worth $119,000. Cullen Frost Bankers Inc. raised its holdings in shares of Lumentum by 66.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 500 shares of the technology company’s stock worth $184,000 after purchasing an additional 200 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in shares of Lumentum by 0.9% during the fourth quarter. Handelsbanken Fonder AB now owns 21,847 shares of the technology company’s stock worth $8,053,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.
Analysts Set New Price Targets
LITE has been the subject of several recent research reports. Stifel Nicolaus raised their target price on shares of Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Bank of America lifted their price objective on shares of Lumentum to $520.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Susquehanna lifted their price objective on shares of Lumentum from $550.00 to $1,100.00 and gave the company a “positive” rating in a report on Monday, April 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lumentum in a report on Tuesday, April 21st. Finally, Rosenblatt Securities lifted their price objective on shares of Lumentum from $900.00 to $1,300.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,012.43.
Insider Buying and Selling at Lumentum
In other news, Director Pamela Fletcher sold 1,578 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $940.82, for a total transaction of $1,484,613.96. Following the completion of the sale, the director owned 7,406 shares of the company’s stock, valued at $6,967,712.92. The trade was a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 dated 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. The trade was a 3.43% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 36,192 shares of company stock valued at $33,367,059. Corporate insiders own 0.43% of the company’s stock.
Key Headlines Impacting Lumentum
Here are the key news stories impacting Lumentum this week:
- Positive Sentiment: Lumentum was added to the Nasdaq-100, a move that can attract buying from index funds and ETFs and broaden institutional ownership. Lumentum (LITE) Joins Nasdaq-100 Index
- Positive Sentiment: Zacks highlighted Lumentum as one of its top momentum stocks and a Zacks Rank #1 (Strong Buy), reinforcing the bullish momentum narrative. Are You Looking for a Top Momentum Pick? Why Lumentum (LITE) is a Great Choice
- Positive Sentiment: Analyst coverage remains constructive, with multiple firms lifting price targets and several reports pointing to demand tied to AI infrastructure and data center optics. 3 Stocks Backed By Broker Rating Upgrades Worth Betting On
- Positive Sentiment: Recent bullish commentary says Lumentum’s photonic products are benefiting from strong AI and data center demand, with capacity constraints supporting revenue and margin expansion. Lumentum: Priced For Growth, But Not For What Comes Next – Double Growth Cycles
- Positive Sentiment: The company’s last earnings report beat EPS expectations and included strong year-over-year revenue growth, supporting the growth story behind the stock. Lumentum stock details and earnings summary
Lumentum Stock Down 2.5%
LITE opened at $868.07 on Thursday. The stock has a market capitalization of $67.54 billion, a price-to-earnings ratio of 160.75 and a beta of 1.53. The company has a fifty day moving average of $825.82 and a two-hundred day moving average of $551.93. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14. Lumentum Holdings Inc. has a fifty-two week low of $71.04 and a fifty-two week high of $1,085.68.
Lumentum (NASDAQ:LITE – Get Free Report) last released its earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. The business had revenue of $808.40 million during the quarter, compared to analysts’ expectations of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The company’s quarterly revenue was up 90.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, research analysts expect that Lumentum Holdings Inc. will post 6.49 earnings per share for the current year.
About Lumentum
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.
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