Westpac Banking Corp Takes Position in Lumentum Holdings Inc. $LITE

Westpac Banking Corp bought a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITEFree Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,358 shares of the technology company’s stock, valued at approximately $3,739,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership boosted its holdings in Lumentum by 18.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,854,801 shares of the technology company’s stock valued at $683,661,000 after acquiring an additional 291,591 shares in the last quarter. Geode Capital Management LLC raised its holdings in Lumentum by 9.6% in the 4th quarter. Geode Capital Management LLC now owns 1,412,213 shares of the technology company’s stock worth $521,563,000 after purchasing an additional 123,265 shares in the last quarter. Situational Awareness LP lifted its position in shares of Lumentum by 210.9% in the 4th quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock worth $478,577,000 after purchasing an additional 880,800 shares during the period. Norges Bank purchased a new stake in shares of Lumentum in the 4th quarter worth about $474,495,000. Finally, Value Aligned Research Advisors LLC bought a new stake in shares of Lumentum during the 4th quarter valued at about $432,062,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Key Lumentum News

Here are the key news stories impacting Lumentum this week:

  • Positive Sentiment: Northland Securities raised its Lumentum earnings forecasts substantially. The firm lifted its FY2027 EPS estimate to $19.81 from $14.97, with quarterly estimates now ranging from $3.81 in Q1 to $6.20 in Q4. Northland maintained an “Outperform” rating and a $1,200 price target, supporting the bullish case for continued earnings growth. Northland Securities analyst estimate report
  • Positive Sentiment: Lumentum is being highlighted as an AI-infrastructure beneficiary. Analysts and financial publications point to rising demand for optical networking equipment as data centers expand to support artificial intelligence workloads. Lumentum is positioned across the optics and networking portions of that buildout. Beyond Chipmakers: 4 Stocks to Buy That Power AI Data Center Expansion
  • Positive Sentiment: LITE was added to Zacks’ Rank #1 momentum-stock list. The designation may attract momentum-oriented investors and reinforces the stock’s strong recent performance. Best Momentum Stocks to Buy for August 21st
  • Neutral Sentiment: A report on data-center construction emphasized the enormous fiber requirements of new AI facilities, a potential long-term demand driver for optical-component suppliers such as Lumentum. However, the article provided limited company-specific financial updates. A Single Meta Data Center Will Require “8 Million Miles of Fiber”
  • Negative Sentiment: Valuation concerns could be limiting further upside. A Seeking Alpha analysis characterized Lumentum as increasingly expensive after its sharp rally. With the shares near their 52-week high and the company still reporting a negative net margin, some investors may be taking profits despite the favorable growth outlook. Lumentum: It’s Getting Expensive

Insider Buying and Selling

In related news, insider Yuen Wupen sold 500 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $898.15, for a total value of $449,075.00. Following the transaction, the insider owned 93,229 shares in the company, valued at $83,733,626.35. The trade was a 0.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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, Director Isaac Hosojiro Harris sold 1,416 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $1,000.08, for a total transaction of $1,416,113.28. Following the sale, the director directly owned 6,984 shares in the company, valued at $6,984,558.72. This trade represents a 16.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 16,352 shares of company stock valued at $14,315,562. Insiders own 0.43% of the company’s stock.

Lumentum Price Performance

Shares of NASDAQ LITE opened at $866.71 on Friday. The company has a 50 day simple moving average of $809.76 and a two-hundred day simple moving average of $790.21. Lumentum Holdings Inc. has a fifty-two week low of $115.89 and a fifty-two week high of $1,085.68. The company has a market capitalization of $77.74 billion, a price-to-earnings ratio of -10.54 and a beta of 1.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.40 and a current ratio of 1.68.

Lumentum (NASDAQ:LITEGet Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.26. Lumentum had a positive return on equity of 26.34% and a negative net margin of 230.15%.The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $987.70 million. During the same quarter in the prior year, the business posted $0.88 EPS. The firm’s quarterly revenue was up 109.3% compared to the same quarter last year. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Analysts expect that Lumentum Holdings Inc. will post 19.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LITE. JPMorgan Chase & Co. boosted their price target on shares of Lumentum from $1,165.00 to $1,280.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Stifel Nicolaus raised their target price on Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Raymond James Financial restated an “outperform” rating and set a $1,036.00 price target on shares of Lumentum in a research report on Wednesday, August 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,040.00 price target on shares of Lumentum in a research note on Wednesday, August 12th. Finally, Citigroup reissued a “buy” rating on shares of Lumentum in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,044.67.

Check Out Our Latest Report on LITE

About Lumentum

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding LITE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lumentum Holdings Inc. (NASDAQ:LITEFree Report).

Institutional Ownership by Quarter for Lumentum (NASDAQ:LITE)

Receive News & Ratings for Lumentum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumentum and related companies with MarketBeat.com's FREE daily email newsletter.