Magnus Financial Group LLC Acquires Shares of 746 Lumentum Holdings Inc. $LITE

Magnus Financial Group LLC bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the fourth quarter, Holdings Channel.com reports. The firm bought 746 shares of the technology company’s stock, valued at approximately $275,000.

Other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in Lumentum by 363.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock worth $27,000 after purchasing an additional 131 shares during the last quarter. Danske Bank A S bought a new position in Lumentum in the 3rd quarter valued at $33,000. MassMutual Private Wealth & Trust FSB boosted its position in Lumentum by 58.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 205 shares of the technology company’s stock valued at $76,000 after buying an additional 76 shares during the last quarter. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Lumentum in the 3rd quarter valued at $49,000. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Lumentum in the 3rd quarter valued at $49,000. 94.05% of the stock is owned by institutional investors.

Lumentum Price Performance

Shares of LITE opened at $728.95 on Tuesday. The company has a current ratio of 0.61, a quick ratio of 0.45 and a debt-to-equity ratio of 0.06. Lumentum Holdings Inc. has a 1 year low of $45.65 and a 1 year high of $787.45. The stock has a market cap of $52.05 billion, a P/E ratio of 223.60 and a beta of 1.38. The stock’s 50-day moving average price is $549.93 and its two-hundred day moving average price is $355.60.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Tuesday, February 3rd. The technology company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.26. The company had revenue of $665.50 million during the quarter, compared to analysts’ expectations of $646.74 million. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.Lumentum’s revenue was up 65.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 EPS. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. On average, equities analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on LITE. Northland Securities set a $350.00 price target on Lumentum in a research note on Wednesday, December 3rd. Morgan Stanley lifted their price objective on Lumentum to $595.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 18th. UBS Group boosted their price objective on Lumentum from $215.00 to $455.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Susquehanna raised their target price on shares of Lumentum to $550.00 and gave the company a “positive” rating in a research note on Wednesday, February 4th. Finally, Barclays lifted their price target on shares of Lumentum to $750.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Lumentum has an average rating of “Moderate Buy” and an average price target of $575.06.

Insider Activity

In other news, insider Vincent Retort sold 3,441 shares of Lumentum stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $545.78, for a total transaction of $1,878,028.98. Following the transaction, the insider directly owned 95,975 shares of the company’s stock, valued at $52,381,235.50. This trade represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Wajid Ali sold 5,302 shares of the business’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $691.13, for a total transaction of $3,664,371.26. Following the completion of the transaction, the chief financial officer directly owned 66,287 shares of the company’s stock, valued at $45,812,934.31. This trade represents a 7.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 65,775 shares of company stock worth $38,851,343 over the last three months. Company insiders own 0.43% of the company’s stock.

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.