Paloma Partners Management Co Purchases New Holdings in Lumentum Holdings Inc. $LITE

Key Points

• Paloma Partners Management Co acquired 85,000 shares of Lumentum Holdings Inc., valued at approximately $5.3 million, increasing its stake to around 0.12% of the company.
• Lumentum reported $480.7 million in revenue for the last quarter, significantly exceeding expectations, with quarterly earnings per share of $0.88, beating analysts' forecasts.
• Several brokerages have recently raised their price targets for Lumentum, with Susquehanna setting a new target at $125.00 and Stifel Nicolaus adjusting their target to $132.00, indicating positive market sentiment.

Paloma Partners Management Co acquired a new position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 85,000 shares of the technology company's stock, valued at approximately $5,299,000. Paloma Partners Management Co owned approximately 0.12% of Lumentum as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in LITE. Graham Capital Management L.P. purchased a new stake in Lumentum during the first quarter valued at about $2,453,000. Junto Capital Management LP purchased a new stake in Lumentum during the first quarter valued at about $20,974,000. Analog Century Management LP purchased a new stake in Lumentum during the first quarter valued at about $60,348,000. Landscape Capital Management L.L.C. raised its position in Lumentum by 44.6% during the first quarter. Landscape Capital Management L.L.C. now owns 25,460 shares of the technology company's stock valued at $1,587,000 after purchasing an additional 7,856 shares in the last quarter. Finally, FORA Capital LLC purchased a new stake in Lumentum during the first quarter valued at about $642,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Lumentum Stock Up 5.3%

LITE traded up $7.55 on Friday, hitting $149.46. The company had a trading volume of 6,408,205 shares, compared to its average volume of 2,699,966. The company has a debt-to-equity ratio of 2.26, a current ratio of 4.37 and a quick ratio of 3.18. Lumentum Holdings Inc. has a 52-week low of $45.65 and a 52-week high of $152.27. The stock has a fifty day simple moving average of $109.65 and a 200-day simple moving average of $83.08. The firm has a market capitalization of $10.45 billion, a P/E ratio of 649.83 and a beta of 1.42.

Lumentum (NASDAQ:LITE - Get Free Report) last released its earnings results on Tuesday, August 12th. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.09. Lumentum had a net margin of 1.57% and a negative return on equity of 3.02%. The firm had revenue of $480.70 million during the quarter, compared to analyst estimates of $465.27 million. During the same period last year, the business earned $0.06 earnings per share. The business's revenue 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.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Susquehanna raised their price objective on Lumentum to $125.00 and gave the company a "positive" rating in a research note on Tuesday, August 12th. Barclays raised their price objective on Lumentum from $75.00 to $135.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. raised their price objective on Lumentum from $123.00 to $145.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Needham & Company LLC reissued a "buy" rating and issued a $145.00 target price (up from $135.00) on shares of Lumentum in a research note on Wednesday, August 13th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $150.00 target price on shares of Lumentum in a research note on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Lumentum currently has a consensus rating of "Moderate Buy" and a consensus price target of $125.86.

Insiders Place Their Bets

In other news, Director Julia Suzanne Johnson sold 1,250 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $119.06, for a total transaction of $148,825.00. Following the completion of the sale, the director owned 22,037 shares of the company's stock, valued at $2,623,725.22. The trade was a 5.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Vincent Retort sold 22,719 shares of the company's stock in a transaction 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 of the company's stock, valued at $13,392,170. This represents a 15.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 81,687 shares of company stock worth $8,398,352 in the last 90 days. Insiders own 0.19% of the company's stock.

Lumentum Profile

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.