25,547 Shares in Lumentum Holdings Inc. $LITE Acquired by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 25,547 shares of the technology company’s stock, valued at approximately $17,953,000. Lumentum accounts for approximately 2.6% of Sierra Summit Advisors LLC’s investment portfolio, making the stock its 5th biggest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nomura Asset Management Co. Ltd. boosted its holdings in Lumentum by 45.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company’s stock valued at $136,306,000 after acquiring an additional 114,714 shares during the period. Andar Capital Management HK Ltd acquired a new stake in shares of Lumentum during the fourth quarter worth about $4,325,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Lumentum during the fourth quarter worth about $6,755,000. Maxi Investments CY Ltd purchased a new position in shares of Lumentum in the fourth quarter valued at approximately $2,212,000. Finally, Estate Counselors LLC acquired a new position in shares of Lumentum in the fourth quarter valued at approximately $4,239,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Lumentum

In other news, Director Ian Small sold 4,954 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the completion of the transaction, the director directly owned 21,008 shares of the company’s stock, valued at approximately $18,236,414.56. This represents a 19.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Wajid Ali sold 2,487 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $2,372,473.65. Following the sale, the chief financial officer directly owned 60,951 shares in the company, valued at $58,144,206.45. This trade represents a 3.92% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 sold 41,260 shares of company stock worth $38,859,220 over the last three months. Company insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on LITE shares. Zacks Research raised shares of Lumentum from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Barclays upped their price objective 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. Raymond James Financial reiterated an “outperform” rating and issued a $1,014.00 price objective on shares of Lumentum in a research note on Wednesday, May 6th. Craig Hallum boosted their target price on Lumentum from $900.00 to $1,150.00 in a research note on Wednesday, May 6th. Finally, Citigroup upped their price target on Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,021.95.

Lumentum Trading Down 9.1%

Shares of NASDAQ:LITE opened at $728.32 on Friday. Lumentum Holdings Inc. has a 52 week low of $88.93 and a 52 week high of $1,085.68. The company’s 50 day moving average is $895.46 and its two-hundred day moving average is $683.47. The company has a market cap of $56.66 billion, a PE ratio of 134.87 and a beta of 1.48. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) 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 analysts’ expectations of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The company’s revenue for the quarter was up 90.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Equities analysts predict that Lumentum Holdings Inc. will post 6.4 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.