Trivest Advisors Ltd purchased a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE – Free Report) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 178,000 shares of the technology company’s stock, valued at approximately $65,609,000. Lumentum makes up 3.0% of Trivest Advisors Ltd’s holdings, making the stock its 14th largest position.
Several other hedge funds have also bought and sold shares of the business. WINTON GROUP Ltd bought a new stake in Lumentum during the fourth quarter worth about $7,122,000. Parallel Advisors LLC boosted its stake in Lumentum by 16.0% during the fourth quarter. Parallel Advisors LLC now owns 326 shares of the technology company’s stock worth $120,000 after acquiring an additional 45 shares in the last quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in Lumentum during the fourth quarter worth about $4,234,000. Harvest Fund Management Co. Ltd boosted its stake in Lumentum by 100.4% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 4,018 shares of the technology company’s stock worth $1,480,000 after acquiring an additional 2,013 shares in the last quarter. Finally, VMS Asset Management Limited bought a new stake in Lumentum during the fourth quarter worth about $9,166,000. Institutional investors own 94.05% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms recently commented on LITE. Needham & Company LLC boosted their price objective on shares of Lumentum from $880.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Zacks Research raised shares of Lumentum from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Northland Securities boosted their price objective on shares of Lumentum from $1,000.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Wednesday. Jefferies Financial Group reissued a “buy” rating and set a $1,200.00 price objective on shares of Lumentum in a research note on Wednesday, May 6th. Finally, Raymond James Financial reissued an “outperform” rating and set a $1,014.00 price objective on shares of Lumentum in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Lumentum currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.95.
Lumentum News Summary
Here are the key news stories impacting Lumentum this week:
- Positive Sentiment: Northland Securities raised its price target on Lumentum to $1,200 from $1,000 and kept an outperform rating, reinforcing the bullish analyst view on the stock. Article Title
- Positive Sentiment: Lumentum announced a $650.4 million private exchange of convertible notes, which may reduce financing overhang and improve balance-sheet flexibility. Article Title
- Positive Sentiment: Analyst sentiment remains favorable overall, with Lumentum holding an average rating of “Moderate Buy” and multiple firms maintaining positive price targets. Article Title
- Positive Sentiment: Investor enthusiasm continues around Lumentum’s role in AI optical interconnects, a narrative that has supported the stock’s longer-term move. Article Title
- Neutral Sentiment: Director Isaac Hosojiro Harris sold 1,416 shares in a pre-arranged 10b5-1 plan; while routine, insider selling can still make some investors cautious. Article Title
- Neutral Sentiment: Articles asking why LITE has been softer since its last earnings report mainly point to post-earnings digestion and valuation, rather than a new fundamental problem. Article Title
Insider Activity
In other news, CFO Wajid Ali sold 2,487 shares of the 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 $2,372,473.65. Following the sale, the chief financial officer owned 60,951 shares in the company, valued at $58,144,206.45. This represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through 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, insider Vincent Retort sold 3,183 shares of the 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 $3,036,422.85. Following the transaction, the insider owned 89,563 shares in the company, valued at approximately $85,438,623.85. This trade represents a 3.43% 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 quarter, insiders have sold 41,260 shares of company stock valued at $38,859,220. Company insiders own 0.43% of the company’s stock.
Lumentum Trading Down 8.6%
NASDAQ:LITE opened at $863.66 on Friday. The company’s 50 day moving average price is $880.29 and its 200-day moving average price is $607.80. Lumentum Holdings Inc. has a 52 week low of $80.39 and a 52 week high of $1,085.68. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The stock has a market cap of $67.19 billion, a price-to-earnings ratio of 159.94 and a beta of 1.47.
Lumentum (NASDAQ:LITE – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.10. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The firm had revenue of $808.40 million for the quarter, compared to analysts’ expectations of $810.21 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. The business’s revenue for the quarter was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, equities research analysts forecast that Lumentum Holdings Inc. will post 6.49 earnings per share for the current fiscal year.
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.
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