11,552 Shares in Lumentum Holdings Inc. $LITE Purchased by Virtu Financial LLC

Key Points

• Virtu Financial LLC opened a new position in Lumentum Holdings during the fourth quarter, buying 11,552 shares worth about $4.26 million.
• Other institutional investors also increased or initiated stakes, and institutions now own 94.05% of Lumentum’s stock, underscoring strong Wall Street interest in the company.
• Lumentum reported stronger-than-expected quarterly earnings and revenue growth of 90.1% year over year, while analysts remain bullish with a Moderate Buy consensus and an average price target of $1,021.95.

Virtu Financial LLC acquired a new position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,552 shares of the technology company's stock, valued at approximately $4,258,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Advisors Asset Management Inc. boosted its position in shares of Lumentum by 36.8% in the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company's stock worth $59,000 after purchasing an additional 254 shares in the last quarter. NewEdge Advisors LLC increased its position in Lumentum by 109.9% during the 1st quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company's stock valued at $747,000 after buying an additional 6,275 shares in the last quarter. Empowered Funds LLC raised its stake in Lumentum by 9.1% during the first quarter. Empowered Funds LLC now owns 8,139 shares of the technology company's stock valued at $507,000 after buying an additional 680 shares during the last quarter. Hsbc Holdings PLC purchased a new position in Lumentum during the second quarter valued at $298,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Lumentum during the second quarter valued at $1,712,000. Institutional investors own 94.05% of the company's stock.

Insider Buying and Selling

In other news, insider Vincent Retort sold 3,183 shares of the firm's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $3,036,422.85. Following the sale, the insider owned 89,563 shares of the company's stock, valued at $85,438,623.85. This trade represents a 3.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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. Also, Director Isaac Hosojiro Harris sold 1,416 shares of Lumentum stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total transaction of $1,416,113.28. Following the completion of the sale, the director owned 6,984 shares of the company's stock, valued at $6,984,558.72. This represents a 16.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 41,260 shares of company stock worth $38,859,220 in the last three months. 0.43% of the stock is currently owned by company insiders.

Lumentum Stock Performance

Shares of LITE opened at $850.00 on Friday. The business's fifty day simple moving average is $903.86 and its two-hundred day simple moving average is $648.37. 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 Holdings Inc. has a 12 month low of $86.63 and a 12 month high of $1,085.68. The company has a market cap of $66.13 billion, a price-to-earnings ratio of 157.41 and a beta of 1.47.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping analysts' consensus estimates of $2.27 by $0.10. The business had revenue of $808.40 million during the quarter, compared to analyst estimates of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The company's quarterly revenue was up 90.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Research analysts anticipate that Lumentum Holdings Inc. will post 6.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LITE has been the topic of a number of recent research reports. Susquehanna increased their target price on Lumentum from $550.00 to $1,100.00 and gave the stock a "positive" rating in a research note on Monday, April 20th. Morgan Stanley lifted their price target on Lumentum from $710.00 to $900.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 6th. B. Riley Financial reiterated a "buy" rating on shares of Lumentum in a research note on Friday, May 1st. JPMorgan Chase & Co. upped their price target on shares of Lumentum from $950.00 to $1,130.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Finally, Northland Securities increased their price objective on shares of Lumentum from $1,000.00 to $1,200.00 and gave the company an "outperform" rating in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $1,021.95.

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.

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