Westpac Banking Corp Buys New Stake in Lumentum Holdings Inc. $LITE

Westpac Banking Corp bought a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,685 shares of the technology company’s stock, valued at approximately $3,292,000.

Other institutional investors also recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC bought a new position in shares of Lumentum in the first quarter worth $25,000. Sachetta LLC raised its stake in shares of Lumentum by 118.8% during the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after purchasing an additional 19 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Lumentum during the fourth quarter valued at about $28,000. Truvestments Capital LLC raised its stake in shares of Lumentum by 300.0% during the fourth quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after purchasing an additional 57 shares in the last quarter. Finally, Triumph Capital Management acquired a new stake in Lumentum in the fourth quarter worth about $30,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Lumentum Price Performance

NASDAQ LITE opened at $837.56 on Wednesday. The stock has a market capitalization of $65.16 billion, a P/E ratio of 155.10 and a beta of 1.48. Lumentum Holdings Inc. has a 1 year low of $97.55 and a 1 year high of $1,085.68. The business’s fifty day moving average is $856.21 and its two-hundred day moving average is $719.22. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.10. The business had revenue of $808.40 million during the quarter, compared to analyst estimates of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The company’s revenue was up 90.1% compared to the same quarter last year. During the same period last year, the company posted $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, research analysts forecast that Lumentum Holdings Inc. will post 6.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LITE. BNP Paribas Exane increased their target price on shares of Lumentum from $1,040.00 to $1,300.00 in a research report on Wednesday, May 6th. Northland Securities upped their price target 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, June 3rd. Mizuho set a $1,100.00 price objective on shares of Lumentum in a report on Wednesday, May 6th. Raymond James Financial reiterated an “outperform” rating and issued a $1,014.00 price objective on shares of Lumentum in a 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 company. According to data from MarketBeat, Lumentum has an average rating of “Moderate Buy” and a consensus target price of $1,012.67.

Insider Buying and Selling at Lumentum

In related news, insider Vincent Retort sold 3,183 shares of Lumentum stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $3,036,422.85. Following the transaction, the insider owned 89,563 shares of the company’s stock, valued at approximately $85,438,623.85. This trade represents a 3.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total value of $1,416,113.28. Following the sale, the director owned 6,984 shares in the company, valued at approximately $6,984,558.72. The trade was a 16.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 41,260 shares of company stock valued at $38,859,220 over the last 90 days. 0.43% of the stock is owned by insiders.

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.