Glaxis Capital Management LLC Buys New Stake in Lumentum Holdings Inc. $LITE

Glaxis Capital Management LLC purchased a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,300 shares of the technology company’s stock, valued at approximately $1,263,000. Lumentum makes up about 3.0% of Glaxis Capital Management LLC’s holdings, making the stock its 12th biggest position.

Other institutional investors have also bought and sold shares of the company. Red Spruce Capital LLC lifted its holdings in shares of Lumentum by 0.4% during the third quarter. Red Spruce Capital LLC now owns 3,200 shares of the technology company’s stock valued at $3,108,000 after acquiring an additional 12 shares during the period. CYBER HORNET ETFs LLC boosted its stake in shares of Lumentum by 7.2% in the 2nd quarter. CYBER HORNET ETFs LLC now owns 209 shares of the technology company’s stock valued at $179,000 after purchasing an additional 14 shares in the last quarter. Hilltop National Bank grew its holdings in shares of Lumentum by 26.8% in the 2nd quarter. Hilltop National Bank now owns 71 shares of the technology company’s stock worth $61,000 after purchasing an additional 15 shares during the last quarter. Sachetta LLC grew its holdings in shares of Lumentum by 118.8% in the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after purchasing an additional 19 shares during the last quarter. Finally, TrinityBridge Ltd grew its holdings in shares of Lumentum by 35.8% in the 3rd quarter. TrinityBridge Ltd now owns 72 shares of the technology company’s stock worth $70,000 after purchasing an additional 19 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on LITE shares. Rosenblatt Securities cut their price target on shares of Lumentum from $1,300.00 to $900.00 and set a “buy” rating for the company in a report on Tuesday. Susquehanna decreased their price objective on shares of Lumentum from $1,100.00 to $950.00 and set a “positive” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Lumentum in a report on Monday, August 31st. They set a “buy” rating and a $1,200.00 price objective for the company. Needham & Company LLC dropped their price objective on shares of Lumentum from $1,040.00 to $800.00 and set a “buy” rating for the company in a report on Tuesday. Finally, B. Riley Financial cut shares of Lumentum from a “buy” rating to a “neutral” rating and cut their target price for the company from $1,142.00 to $770.00 in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,081.61.

Insider Buying and Selling

In related news, CFO Wajid Ali sold 24,542 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $1,048.50, for a total transaction of $25,732,287.00. Following the completion of the sale, the chief financial officer directly owned 75,074 shares of the company’s stock, valued at approximately $78,715,089. This represents a 24.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 307 shares of the firm’s stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $945.00, for a total transaction of $290,115.00. Following the sale, the insider owned 108,320 shares in the company, valued at $102,362,400. This trade represents a 0.28% decrease in their ownership of the stock. 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. Over the last three months, insiders have sold 94,496 shares of company stock valued at $85,978,498. 0.28% of the stock is owned by company insiders.

Lumentum News Summary

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: The proposed Marvell acquisition could combine complementary technologies and support revenue growth and better gross margins over time. Marvell’s Deal to Acquire Lumentum Could Be a Game Changer for the Stock
• Neutral Sentiment: The deal is an all-stock transaction, with Lumentum holders set to receive 4.5 Marvell shares per Lumentum share. That structure means the value of the consideration can fluctuate with Marvell’s stock. Lumentum declines, continues retreat after all-stock Marvell deal
• Negative Sentiment: The immediate pressure appears largely sector-driven: AI optical stocks fell for a second session, with selling persisting even as companies in the group reported strong results. One report said Lumentum’s decline had no clear company-specific catalyst. AI optical stocks slide Lumentum Drops in a Single Session With No Clear Catalyst
• Negative Sentiment: Several firms issued more cautious views: Rosenblatt lowered expectations, TD Cowen published a pessimistic forecast, and B. Riley downgraded its rating. Rosenblatt Securities Lowers Expectations TD Cowen Issues Pessimistic Forecast B. Riley Lowers Lumentum Rating
• Negative Sentiment: A law firm is investigating the proposed Marvell deal’s price and process, adding another source of transaction uncertainty. Investor alert on proposed sale investigation

Lumentum Stock Down 18.7%

Shares of Lumentum stock opened at $509.70 on Friday. Lumentum Holdings Inc. has a 1 year low of $215.35 and a 1 year high of $1,143.00. The business has a 50-day moving average of $902.48 and a two-hundred day moving average of $800.69. The company has a market capitalization of $46.23 billion, a P/E ratio of -6.47 and a beta of 1.64. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.61 and a quick ratio of 1.40.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Monday, November 2nd. The technology company reported $4.57 EPS for the quarter, topping analysts’ consensus estimates of $4.22 by $0.35. Lumentum had a positive return on equity of 28.85% and a negative net margin of 175.82%. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the firm posted $1.10 earnings per share. Lumentum’s revenue was up 136.5% compared to the same quarter last year. As a group, equities analysts predict that Lumentum Holdings Inc. will post 19.80 EPS for the current year.

Lumentum Profile

Lumentum Holdings Inc is a technology company that designs and manufactures optical and photonic products for communications networks, industrial applications, and consumer electronics. Its portfolio includes optical components, modules, and subsystems used in fiber-optic networks, data centers, cloud computing infrastructure, telecommunications equipment, and high-speed connectivity systems.

The company also develops laser products for applications such as industrial processing, sensing, three-dimensional imaging, and other specialized commercial and consumer uses.