4,047 Shares of Lumentum Holdings Inc. $LITE Bought by Parkway Wealth Management Group LLC

Key Points

• Parkway Wealth Management Group initiated a position in Lumentum by purchasing 4,047 shares valued at approximately $3.93 million. Institutional investors collectively own 94.05% of the company.
• Analysts remain broadly positive, with 16 Buy, six Hold, and one Sell rating; the stock has a consensus “Moderate Buy” rating and an average price target of $1,078.75.
• Lumentum exceeded quarterly earnings and revenue expectations, reporting $3.23 in EPS and $1.01 billion in revenue, while revenue surged 109.3% year over year. However, insiders sold nearly $86 million worth of shares during the last quarter.

Parkway Wealth Management Group LLC bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,047 shares of the technology company's stock, valued at approximately $3,931,000.

Several other hedge funds and other institutional investors have also modified their holdings of LITE. Jupiter Topco LLC bought a new stake in shares of Lumentum during the second quarter worth approximately $1,621,396,000. Amundi increased its stake in shares of Lumentum by 188.7% during the second quarter. Amundi now owns 658,427 shares of the technology company's stock worth $564,970,000 after purchasing an additional 430,355 shares during the period. WT Asset Management Ltd acquired a new stake in Lumentum during the 2nd quarter worth approximately $494,688,000. Janus Henderson Group PLC boosted its stake in Lumentum by 163.2% in the 1st quarter. Janus Henderson Group PLC now owns 567,182 shares of the technology company's stock valued at $398,590,000 after purchasing an additional 351,676 shares during the period. Finally, Legal & General Group Plc bought a new stake in Lumentum in the 2nd quarter valued at $376,539,000. Institutional investors own 94.05% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on LITE. Morgan Stanley raised their price target on shares of Lumentum from $900.00 to $1,000.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 12th. Stifel Nicolaus boosted their price objective on shares of Lumentum from $1,100.00 to $1,232.00 and gave the company a "buy" rating in a report on Monday, October 5th. Rosenblatt Securities reissued a "buy" rating and issued a $1,300.00 price objective on shares of Lumentum in a report on Monday, October 5th. Citigroup increased their target price on shares of Lumentum from $1,200.00 to $1,400.00 and gave the stock a "buy" rating in a research report on Monday, September 28th. Finally, Sanford C. Bernstein initiated coverage on shares of Lumentum in a report on Wednesday, September 30th. They set an "outperform" rating and a $1,220.00 target price on the stock. Sixteen research 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, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,078.75.

Lumentum Stock Performance

NASDAQ:LITE opened at $834.51 on Tuesday. The company has a market cap of $75.59 billion, a price-to-earnings ratio of -10.15 and a beta of 1.53. Lumentum Holdings Inc. has a fifty-two week low of $152.54 and a fifty-two week high of $1,143.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.40 and a current ratio of 1.68. The stock has a fifty day moving average price of $931.90 and a 200-day moving average price of $878.55.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The technology company reported $3.23 EPS for the quarter, topping analysts' consensus estimates of $2.97 by $0.26. The company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $987.70 million. Lumentum had a positive return on equity of 26.34% and a negative net margin of 230.15%. Lumentum's revenue was up 109.3% on a year-over-year basis. During the same quarter last year, the business earned $0.88 earnings per share. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. As a group, equities analysts anticipate that Lumentum Holdings Inc. will post 19.79 EPS for the current fiscal year.

Insider Transactions at Lumentum

In other news, CFO Wajid Ali sold 24,542 shares of the business's stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $1,048.50, for a total value of $25,732,287.00. Following the completion of the transaction, the chief financial officer directly owned 75,074 shares in the company, valued at approximately $78,715,089. The trade was a 24.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 307 shares of the company's stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $945.00, for a total transaction of $290,115.00. Following the sale, the insider directly owned 108,320 shares of the company's stock, valued at approximately $102,362,400. This trade represents a 0.28% decrease in their position. 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. Insiders have sold 94,496 shares of company stock worth $85,978,498 over the last quarter. Corporate insiders own 0.28% of the company's stock.

Lumentum Profile

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.

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