Wealth High Governance Asset Management Ltda. reduced its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE – Free Report) by 39.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,968 shares of the technology company’s stock after selling 7,880 shares during the quarter. Lumentum accounts for about 3.0% of Wealth High Governance Asset Management Ltda.’s investment portfolio, making the stock its 15th largest holding. Wealth High Governance Asset Management Ltda.’s holdings in Lumentum were worth $8,411,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of LITE. Parallel Advisors LLC grew its position in shares of Lumentum by 71.8% in the 1st quarter. Parallel Advisors LLC now owns 560 shares of the technology company’s stock worth $394,000 after acquiring an additional 234 shares in the last quarter. Caerus Investment Advisors LLC bought a new position in shares of Lumentum during the first quarter worth about $346,000. Concorde Asset Management LLC acquired a new stake in shares of Lumentum in the first quarter valued at approximately $212,000. Glenmede Trust Co. NA increased its position in Lumentum by 39.2% in the 1st quarter. Glenmede Trust Co. NA now owns 1,515 shares of the technology company’s stock valued at $1,065,000 after acquiring an additional 427 shares during the period. Finally, Essential Partners LLC increased its holdings in shares of Lumentum by 590.3% during the first quarter. Essential Partners LLC now owns 214 shares of the technology company’s stock valued at $150,000 after purchasing an additional 183 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have recently commented on the company. Jefferies Financial Group reissued a “buy” rating and issued a $1,200.00 price objective on shares of Lumentum in a research note on Wednesday, May 6th. Mizuho set a $1,100.00 target price on shares of Lumentum in a research note on Wednesday, May 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lumentum in a report on Friday, July 17th. Rosenblatt Securities lifted their price objective on Lumentum from $900.00 to $1,300.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Citigroup reiterated a “buy” rating on shares of Lumentum in a research note on Thursday, July 16th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,012.67.
Insider Activity at Lumentum
In other news, Director Isaac Hosojiro Harris sold 1,416 shares of the business’s stock in a transaction that occurred 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 sale, the director directly owned 6,984 shares in the company, valued at approximately $6,984,558.72. The trade was a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jae Kim sold 1,422 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $1,356,516.90. Following the completion of the transaction, the senior vice president owned 32,333 shares of the company’s stock, valued at $30,844,065.35. The trade was a 4.21% decrease in their ownership of the stock. 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. Insiders have sold 41,260 shares of company stock worth $38,859,220 in the last three months. Company insiders own 0.43% of the company’s stock.
Lumentum Stock Performance
LITE opened at $713.94 on Monday. Lumentum Holdings Inc. has a 12-month low of $101.61 and a 12-month high of $1,085.68. The stock’s 50 day moving average price is $821.07 and its two-hundred day moving average price is $739.34. The firm has a market capitalization of $55.54 billion, a P/E ratio of 132.21 and a beta of 1.50. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01.
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, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $810.21 million. During the same period in the prior year, the company earned $0.57 EPS. The business’s quarterly revenue was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, equities analysts forecast that Lumentum Holdings Inc. will post 6.42 earnings per share for the current year.
Lumentum 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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