2,220 Shares of Lumentum Holdings Inc. $LITE Bought by MBL Wealth LLC

MBL Wealth LLC acquired a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) in the third quarter, Holdings Channel reports. The fund acquired 2,220 shares of the technology company’s stock, valued at approximately $2,156,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in LITE. Red Spruce Capital LLC increased 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 worth $3,108,000 after purchasing an additional 12 shares during the period. CYBER HORNET ETFs LLC raised its position in shares of Lumentum by 7.2% in the second quarter. CYBER HORNET ETFs LLC now owns 209 shares of the technology company’s stock valued at $179,000 after buying an additional 14 shares in the last quarter. Hilltop National Bank boosted its stake in shares of Lumentum by 26.8% in the second quarter. Hilltop National Bank now owns 71 shares of the technology company’s stock valued at $61,000 after buying an additional 15 shares during the period. Sachetta LLC boosted its stake in shares of Lumentum by 118.8% in the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after buying an additional 19 shares during the period. Finally, Kieckhefer Group LLC boosted its stake in shares of Lumentum by 0.8% in the third quarter. Kieckhefer Group LLC now owns 3,191 shares of the technology company’s stock valued at $3,099,000 after buying an additional 25 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Lumentum Price Performance

LITE stock opened at $752.54 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.68 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a 12 month low of $157.40 and a 12 month high of $1,143.00. The firm has a market cap of $68.17 billion, a P/E ratio of -9.15 and a beta of 1.53. The company’s 50-day moving average price is $927.74 and its two-hundred day moving average price is $878.60.

Lumentum (NASDAQ:LITE) last issued its earnings results on Tuesday, August 11th. The technology company reported $3.23 EPS for the quarter, beating 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 company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $987.70 million. During the same period in the previous year, the company earned $0.88 EPS. The business’s revenue for the quarter was up 109.3% compared to the same quarter last year. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. On average, analysts anticipate that Lumentum Holdings Inc. will post 19.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Michael Hurlston sold 548 shares of Lumentum stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $958.66, for a total value of $525,345.68. Following the transaction, the chief executive officer directly owned 186,951 shares of the company’s stock, valued at $179,222,445.66. This trade represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Yuen Wupen sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $827.82, for a total transaction of $1,241,730.00. Following the transaction, the insider owned 100,434 shares of the company’s stock, valued at approximately $83,141,273.88. This represents a 1.47% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 94,496 shares of company stock valued at $85,978,498 over the last three months. 0.28% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LITE has been the topic of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and set a $1,040.00 price target on shares of Lumentum in a research report on Wednesday, August 12th. Sanford C. Bernstein started coverage on Lumentum in a report on Wednesday, September 30th. They issued an “outperform” rating and a $1,220.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Lumentum in a report on Monday, August 31st. They issued a “buy” rating and a $1,200.00 price objective for the company. TD Cowen upped their target price on Lumentum from $800.00 to $820.00 and gave the company a “hold” rating in a research report on Wednesday, August 12th. Finally, Evercore began coverage on Lumentum in a report on Monday, August 31st. They set an “outperform” rating and a $1,100.00 target price on the stock. Sixteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,080.83.

About Lumentum

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.