263,000 Shares in Lumentum Holdings Inc. $LITE Purchased by WT Asset Management Ltd

Key Points

• WT Asset Management Ltd purchased 263,000 shares of Lumentum Holdings Inc. valued at approximately $25 million, making it the firm's 18th largest position.
• Lumentum reported a 55.9% increase in revenue year-over-year, with earnings per share of $0.88, surpassing analysts' expectations of $0.79.
• Insider Vincent Retort sold 22,719 shares of Lumentum, decreasing their stake by 15.73%, highlighting ongoing insider activities within the company.

WT Asset Management Ltd purchased a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 263,000 shares of the technology company's stock, valued at approximately $25,001,000. Lumentum comprises approximately 1.8% of WT Asset Management Ltd's holdings, making the stock its 18th biggest position. WT Asset Management Ltd owned about 0.38% of Lumentum at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Lumentum by 0.6% during the first quarter. Vanguard Group Inc. now owns 7,430,185 shares of the technology company's stock worth $463,198,000 after buying an additional 47,811 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Lumentum during the first quarter worth about $260,000. UMB Bank n.a. grew its holdings in shares of Lumentum by 132.9% during the first quarter. UMB Bank n.a. now owns 785 shares of the technology company's stock worth $49,000 after buying an additional 448 shares during the last quarter. FORA Capital LLC purchased a new position in shares of Lumentum during the first quarter worth about $642,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Lumentum by 1.1% during the first quarter. Principal Financial Group Inc. now owns 159,154 shares of the technology company's stock worth $9,922,000 after buying an additional 1,660 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

Lumentum Price Performance

LITE stock opened at $163.81 on Friday. The firm has a 50 day moving average of $137.54 and a 200-day moving average of $96.82. Lumentum Holdings Inc. has a 12-month low of $45.65 and a 12-month high of $178.49. The company has a current ratio of 4.37, a quick ratio of 3.18 and a debt-to-equity ratio of 2.26. The company has a market cap of $11.45 billion, a price-to-earnings ratio of 712.22 and a beta of 1.42.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.09. Lumentum had a net margin of 1.57% and a negative return on equity of 3.02%. The company had revenue of $480.70 million during the quarter, compared to the consensus estimate of $465.27 million. During the same period last year, the firm earned $0.06 EPS. The company's revenue for the quarter was up 55.9% on a year-over-year basis. Lumentum has set its Q1 2026 guidance at 0.950-1.100 EPS. As a group, equities analysts expect that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Insider Activity

In related news, insider Vincent Retort sold 22,719 shares of Lumentum stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $110.00, for a total transaction of $2,499,090.00. Following the completion of the transaction, the insider directly owned 121,747 shares in the company, valued at $13,392,170. The trade was a 15.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jae Kim sold 4,507 shares of Lumentum stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $116.88, for a total value of $526,778.16. Following the transaction, the senior vice president owned 33,465 shares of the company's stock, valued at $3,911,389.20. This represents a 11.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,687 shares of company stock worth $4,759,552. 0.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LITE. KGI Securities started coverage on Lumentum in a report on Monday, August 18th. They set an "outperform" rating on the stock. Stifel Nicolaus lifted their price objective on Lumentum from $100.00 to $132.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Lumentum in a report on Saturday, September 27th. Bank of America raised Lumentum from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $78.00 to $135.00 in a report on Wednesday, August 13th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $145.00 price objective (up previously from $135.00) on shares of Lumentum in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Lumentum has an average rating of "Moderate Buy" and an average price target of $133.36.

About Lumentum

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.

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