Teza Capital Management LLC Buys New Position in Lumentum Holdings Inc. $LITE

Teza Capital Management LLC bought a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the 2nd quarter, HoldingsChannel reports. The firm bought 616 shares of the technology company’s stock, valued at approximately $529,000. Lumentum accounts for about 1.0% of Teza Capital Management LLC’s investment portfolio, making the stock its 21st largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of LITE. Nomura Asset Management Co. Ltd. raised its position in Lumentum by 45.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company’s stock valued at $136,306,000 after purchasing an additional 114,714 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. bought a new stake in Lumentum during the first quarter worth about $2,046,000. Styrax Capital LP boosted its holdings in shares of Lumentum by 3.6% in the 1st quarter. Styrax Capital LP now owns 140,000 shares of the technology company’s stock worth $98,386,000 after purchasing an additional 4,837 shares in the last quarter. Whittier Trust Co. increased its position in shares of Lumentum by 21,806.5% during the 1st quarter. Whittier Trust Co. now owns 74,044 shares of the technology company’s stock valued at $57,183,000 after purchasing an additional 73,706 shares during the last quarter. Finally, Andar Capital Management HK Ltd bought a new position in shares of Lumentum during the 4th quarter valued at about $4,325,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Barclays boosted their target price on Lumentum from $750.00 to $1,000.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Weiss Ratings downgraded shares of Lumentum from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Wednesday, August 19th. BNP Paribas Exane boosted their price objective on shares of Lumentum from $1,040.00 to $1,300.00 in a report on Wednesday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,040.00 price objective on shares of Lumentum in a research note on Wednesday, August 12th. Finally, Evercore assumed coverage on shares of Lumentum in a research report on Monday. They issued an “outperform” rating and a $1,100.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,053.83.

Insider Activity

In related news, insider Vincent Retort sold 38,663 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $852.59, for a total transaction of $32,963,687.17. Following the transaction, the insider owned 78,440 shares in the company, valued at $66,877,159.60. The trade was a 33.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 1,500 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $827.82, for a total value of $1,241,730.00. Following the completion of the sale, the insider owned 100,434 shares of the company’s stock, valued at approximately $83,141,273.88. This trade represents a 1.47% decrease in their position. 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 have sold a total of 63,147 shares of company stock worth $54,032,636 over the last ninety days. 0.43% of the stock is owned by insiders.

Lumentum Stock Performance

Shares of LITE stock opened at $914.76 on Tuesday. The company has a market capitalization of $82.05 billion, a P/E ratio of -11.13 and a beta of 1.50. Lumentum Holdings Inc. has a fifty-two week low of $125.00 and a fifty-two week high of $1,085.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.40 and a current ratio of 1.68. The stock has a 50 day moving average price of $812.24 and a two-hundred day moving average price of $809.18.

Lumentum (NASDAQ:LITE) last issued its earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.26. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $987.70 million. During the same quarter last year, the business earned $0.88 earnings per share. The business’s revenue was up 109.3% on a year-over-year basis. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Analysts expect that Lumentum Holdings Inc. will post 19.76 earnings per share 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.