2,172 Shares in Lumentum Holdings Inc. $LITE Bought by Maverick Capital Ltd.

Key Points

• Maverick Capital initiated a 2,172-share position in Lumentum during the first quarter, valued at approximately $1.53 million. Institutional investors and hedge funds collectively own 94.05% of the company.
• Lumentum reported quarterly earnings of $2.37 per share, exceeding analyst expectations of $2.27, while revenue rose 90.1% year over year to $808.4 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $1,012.67.
• Lumentum shares opened at $711.96, well below their 52-week high of $1,085.68. Company insiders sold 41,260 shares worth approximately $38.9 million over the past three months, mostly under pre-arranged trading plans.

Maverick Capital Ltd. purchased a new stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,172 shares of the technology company's stock, valued at approximately $1,526,000.

Several other institutional investors have also recently added to or reduced their stakes in LITE. Advisors Asset Management Inc. increased 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 during the last quarter. NewEdge Advisors LLC lifted its position in shares of Lumentum by 109.9% during the first quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company's stock worth $747,000 after purchasing an additional 6,275 shares during the last quarter. Empowered Funds LLC grew its stake in Lumentum by 9.1% in the first quarter. Empowered Funds LLC now owns 8,139 shares of the technology company's stock worth $507,000 after purchasing an additional 680 shares in the last quarter. Hsbc Holdings PLC acquired a new position in Lumentum in the second quarter worth about $298,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Lumentum in the second quarter valued at about $1,712,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Lumentum Stock Performance

Shares of LITE stock opened at $711.96 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average of $841.23 and a two-hundred day moving average of $730.69. Lumentum Holdings Inc. has a 52 week low of $101.61 and a 52 week high of $1,085.68. The company has a market cap of $55.39 billion, a P/E ratio of 131.84 and a beta of 1.48.

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, beating the consensus estimate of $2.27 by $0.10. The company 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 business's revenue was up 90.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, analysts anticipate that Lumentum Holdings Inc. will post 6.42 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Raymond James Financial reaffirmed an "outperform" rating and set a $1,014.00 target price on shares of Lumentum in a report on Wednesday, May 6th. Citigroup reiterated a "buy" rating on shares of Lumentum in a report on Thursday, July 16th. TD Cowen dropped their price target on Lumentum from $995.00 to $800.00 and set a "hold" rating on the stock in a research report on Monday, July 13th. Mizuho set a $1,100.00 price objective on Lumentum in a research note on Wednesday, May 6th. Finally, Citic Securities lifted their price objective on shares of Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. Fourteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $1,012.67.

Insider Transactions at Lumentum

In other Lumentum news, Director Isaac Hosojiro Harris sold 1,416 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total value of $1,416,113.28. Following the sale, the director directly owned 6,984 shares of the company's stock, valued at $6,984,558.72. This trade represents a 16.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vincent Retort sold 3,183 shares of the firm's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $3,036,422.85. Following the completion of the sale, the insider owned 89,563 shares in the company, valued at $85,438,623.85. The trade was a 3.43% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 41,260 shares of company stock valued at $38,859,220 over the last three months. 0.43% of the stock is currently owned by company insiders.

Lumentum 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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