Sanctuary Advisors LLC bought a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,582 shares of the technology company’s stock, valued at approximately $15,086,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership boosted its stake in shares of Lumentum by 18.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,854,801 shares of the technology company’s stock worth $683,661,000 after acquiring an additional 291,591 shares during the last quarter. Geode Capital Management LLC boosted its stake in Lumentum by 9.6% during 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 during the last quarter. Situational Awareness LP boosted its stake in Lumentum by 210.9% during 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 last quarter. Norges Bank purchased a new stake in shares of Lumentum during the fourth quarter worth $474,495,000. Finally, Value Aligned Research Advisors LLC purchased a new stake in shares of Lumentum during the fourth quarter worth $432,062,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.
Insider Transactions at Lumentum
In other Lumentum news, Director Isaac Hosojiro Harris sold 1,416 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total transaction of $1,416,113.28. Following the transaction, the director directly owned 6,984 shares in the company, valued at $6,984,558.72. This represents a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jae Kim sold 1,904 shares of Lumentum stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $827.82, for a total value of $1,576,169.28. Following the completion of the sale, the senior vice president directly owned 42,096 shares of the company’s stock, valued at $34,847,910.72. The trade was a 4.33% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 16,352 shares of company stock worth $14,315,562 in the last ninety days. 0.43% of the stock is owned by company insiders.
Key Stories Impacting Lumentum
- 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
Analyst Ratings Changes
LITE has been the subject of a number of recent research reports. Weiss Ratings cut shares of Lumentum from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday. Citigroup reaffirmed a “buy” rating on shares of Lumentum in a research note on Wednesday, August 12th. Citic Securities increased their price objective on shares of Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. Bank of America lowered their target price on Lumentum from $1,100.00 to $1,000.00 and set a “neutral” rating on the stock in a report on Wednesday, August 12th. Finally, TD Cowen lifted their price objective on Lumentum from $800.00 to $820.00 and gave the stock a “hold” rating in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Lumentum has a consensus rating of “Moderate Buy” and a consensus price target of $1,044.67.
Read Our Latest Research Report on LITE
Lumentum Price Performance
Shares of NASDAQ:LITE opened at $866.71 on Monday. The company has a market capitalization of $77.74 billion, a price-to-earnings ratio of -10.54 and a beta of 1.50. Lumentum Holdings Inc. has a 12-month low of $115.89 and a 12-month high of $1,085.68. The business has a 50-day moving average price of $809.76 and a 200 day moving average price of $792.80. The company has a current ratio of 1.68, a quick ratio of 1.40 and a debt-to-equity ratio of 0.01.
Lumentum (NASDAQ:LITE – Get Free Report) last announced its 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. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $987.70 million. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. Lumentum’s revenue was up 109.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 earnings per share. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Sell-side analysts expect that Lumentum Holdings Inc. will post 19.76 EPS 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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