52,749 Shares in Lumentum Holdings Inc. $LITE Purchased by Estuary Capital Management LP

Estuary Capital Management LP bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 52,749 shares of the technology company's stock, valued at approximately $37,070,000. Lumentum makes up 6.2% of Estuary Capital Management LP's portfolio, making the stock its 5th biggest holding. Estuary Capital Management LP owned about 0.07% of Lumentum as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hilton Head Capital Partners LLC purchased a new stake in shares of Lumentum in the first quarter valued at approximately $25,000. Sachetta LLC boosted its holdings in Lumentum by 118.8% in the 1st quarter. Sachetta LLC now owns 35 shares of the technology company's stock valued at $25,000 after purchasing an additional 19 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in Lumentum in the fourth quarter worth approximately $28,000. Truvestments Capital LLC increased its position in shares of Lumentum by 300.0% during the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company's stock worth $28,000 after purchasing an additional 57 shares during the last quarter. Finally, Triumph Capital Management acquired a new position in Lumentum in the fourth quarter valued at about $30,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Lumentum Stock Down 6.7%

LITE stock opened at $711.96 on Tuesday. The company has a market cap of $55.39 billion, a price-to-earnings ratio of 131.84 and a beta of 1.48. The company has a fifty day moving average price of $841.23 and a 200 day moving average price of $730.69. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. Lumentum Holdings Inc. has a 12 month low of $101.61 and a 12 month high of $1,085.68.

Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.27 by $0.10. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The business had revenue of $808.40 million during the quarter, compared to analysts' expectations of $810.21 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. The company's quarterly revenue was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Sell-side analysts expect that Lumentum Holdings Inc. will post 6.42 earnings per share for the current year.

Insider Buying and Selling at Lumentum

In other Lumentum news, Director Ian Small sold 4,954 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the transaction, the director owned 21,008 shares in the company, valued at approximately $18,236,414.56. The trade was a 19.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Brian Lillie sold 11,951 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $981.64, for a total value of $11,731,579.64. Following the completion of the sale, the director directly owned 13,959 shares of the company's stock, valued at $13,702,712.76. This represents a 46.13% 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. Over the last quarter, insiders sold 41,260 shares of company stock valued at $38,859,220. Insiders own 0.43% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on LITE shares. Jefferies Financial Group restated a "buy" rating and issued a $1,200.00 price objective on shares of Lumentum in a report on Wednesday, May 6th. BNP Paribas Exane raised their price target on Lumentum from $1,040.00 to $1,300.00 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. Stifel Nicolaus lifted their price objective on shares of Lumentum from $800.00 to $1,100.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Finally, Loop Capital raised their price target on shares of Lumentum from $900.00 to $1,400.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Fourteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Lumentum currently has an average rating of "Moderate Buy" and an average price target of $1,012.67.

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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