Dorsey Wright & Associates Purchases New Stake in Lumentum Holdings Inc. $LITE

Dorsey Wright & Associates acquired a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 14,162 shares of the technology company’s stock, valued at approximately $2,304,000.

Several other large investors have also recently bought and sold shares of LITE. Oberweis Asset Management Inc. boosted its position in shares of Lumentum by 22.1% during the 3rd quarter. Oberweis Asset Management Inc. now owns 328,630 shares of the technology company’s stock worth $53,471,000 after purchasing an additional 59,580 shares in the last quarter. Castleark Management LLC grew its stake in shares of Lumentum by 3.9% during the 3rd quarter. Castleark Management LLC now owns 65,823 shares of the technology company’s stock worth $10,710,000 after purchasing an additional 2,453 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in shares of Lumentum by 1.3% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 53,886 shares of the technology company’s stock valued at $8,759,000 after purchasing an additional 685 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of Lumentum in the 3rd quarter valued at about $8,502,000. Finally, Williamson Legacy Group LLC acquired a new stake in shares of Lumentum in the third quarter valued at about $2,423,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on LITE. Stifel Nicolaus upped their target price on shares of Lumentum to $800.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Morgan Stanley lifted their price target on shares of Lumentum to $520.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Mizuho boosted their price target on Lumentum to $645.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Citigroup upped their price target on Lumentum to $560.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Finally, Northland Securities set a $350.00 price objective on Lumentum in a research note on Wednesday, December 3rd. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Lumentum presently has an average rating of “Moderate Buy” and a consensus price target of $550.38.

Insider Activity

In other Lumentum news, insider Yuen Wupen sold 3,157 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $538.00, for a total value of $1,698,466.00. Following the completion of the transaction, the insider directly owned 88,439 shares in the company, valued at approximately $47,580,182. The trade was a 3.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Wajid Ali sold 5,302 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $691.13, for a total value of $3,664,371.26. Following the transaction, the chief financial officer directly owned 66,287 shares in the company, valued at approximately $45,812,934.31. This represents a 7.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 65,775 shares of company stock worth $38,851,343. 0.43% of the stock is currently owned by corporate insiders.

Lumentum Trading Up 4.0%

Lumentum stock opened at $649.56 on Wednesday. The stock has a 50-day moving average price of $520.42 and a 200 day moving average price of $338.93. Lumentum Holdings Inc. has a 52 week low of $45.65 and a 52 week high of $783.80. The stock has a market cap of $46.38 billion, a PE ratio of 199.25 and a beta of 1.38. 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 (NASDAQ:LITE) last released its earnings results on Tuesday, February 3rd. The technology company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.26. Lumentum had a net margin of 11.95% and a return on equity of 17.27%. The company had revenue of $665.50 million for the quarter, compared to analyst estimates of $646.74 million. During the same period in the prior year, the firm earned $0.42 EPS. The firm’s quarterly revenue was up 65.5% on a year-over-year basis. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. Equities research analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Lumentum Company 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.