Allworth Financial LP bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,724 shares of the technology company's stock, valued at approximately $1,479,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC bought a new position in shares of Lumentum during the first quarter valued at $25,000. Sachetta LLC lifted its holdings in shares of Lumentum by 118.8% during the first quarter. Sachetta LLC now owns 35 shares of the technology company's stock worth $25,000 after purchasing an additional 19 shares during the period. Truvestments Capital LLC grew its stake in shares of Lumentum by 300.0% in the fourth 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. Triumph Capital Management bought a new stake in shares of Lumentum in the fourth quarter worth $30,000. Finally, Danske Bank A S acquired a new stake in Lumentum in the third quarter valued at $33,000. 94.05% of the stock is owned by institutional investors.
Trending Headlines about Lumentum
Here are the key news stories impacting Lumentum this week:
- Positive Sentiment: Northland Securities raised its Lumentum earnings forecasts substantially. The firm lifted its FY2027 EPS estimate to $19.81 from $14.97, with quarterly estimates now ranging from $3.81 in Q1 to $6.20 in Q4. Northland maintained an “Outperform” rating and a $1,200 price target, supporting the bullish case for continued earnings growth. Northland Securities analyst estimate report
- Positive Sentiment: Lumentum is being highlighted as an AI-infrastructure beneficiary. Analysts and financial publications point to rising demand for optical networking equipment as data centers expand to support artificial intelligence workloads. Lumentum is positioned across the optics and networking portions of that buildout. Beyond Chipmakers: 4 Stocks to Buy That Power AI Data Center Expansion
- Positive Sentiment: LITE was added to Zacks’ Rank #1 momentum-stock list. The designation may attract momentum-oriented investors and reinforces the stock’s strong recent performance. Best Momentum Stocks to Buy for August 21st
- Neutral Sentiment: A report on data-center construction emphasized the enormous fiber requirements of new AI facilities, a potential long-term demand driver for optical-component suppliers such as Lumentum. However, the article provided limited company-specific financial updates. A Single Meta Data Center Will Require “8 Million Miles of Fiber”
- Negative Sentiment: Valuation concerns could be limiting further upside. A Seeking Alpha analysis characterized Lumentum as increasingly expensive after its sharp rally. With the shares near their 52-week high and the company still reporting a negative net margin, some investors may be taking profits despite the favorable growth outlook. Lumentum: It’s Getting Expensive
Insiders Place Their Bets
In other Lumentum news, Director Isaac Hosojiro Harris sold 4,000 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $860.00, for a total transaction of $3,440,000.00. Following the transaction, the director directly owned 8,400 shares in the company, valued at approximately $7,224,000. This represents a 32.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 that occurred on Tuesday, August 18th. The stock was sold at an average price of $909.43, for a total transaction of $2,894,715.69. Following the sale, the insider directly owned 114,495 shares of the company's stock, valued at approximately $104,125,187.85. This trade represents a 2.70% decrease in their position. 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 a total of 16,352 shares of company stock valued at $14,315,562 in the last ninety days. 0.43% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
LITE has been the subject of several analyst reports. Jefferies Financial Group reaffirmed a "buy" rating and set a $1,200.00 target price on shares of Lumentum in a research report on Wednesday, May 6th. Northland Securities increased their price target on Lumentum from $1,000.00 to $1,200.00 and gave the company an "outperform" rating in a research note on Wednesday, June 3rd. Loop Capital raised their price objective on Lumentum from $900.00 to $1,400.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. UBS Group set a $820.00 price objective on Lumentum in a research report on Wednesday, August 12th. Finally, Citigroup reaffirmed a "buy" rating on shares of Lumentum in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,044.67.
Read Our Latest Analysis on Lumentum
Lumentum Stock Performance
Shares of Lumentum stock opened at $866.71 on Friday. The business has a 50-day moving average price of $809.76 and a two-hundred day moving average price of $790.21. Lumentum Holdings Inc. has a 1-year low of $115.89 and a 1-year high of $1,085.68. The company has a current ratio of 1.68, a quick ratio of 1.40 and a debt-to-equity ratio of 0.01. The company has a market cap of $77.74 billion, a P/E ratio of -10.54 and a beta of 1.50.
Lumentum (NASDAQ:LITE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The technology company reported $3.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.97 by $0.26. Lumentum had a positive return on equity of 26.34% and a negative net margin of 230.15%.The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $987.70 million. During the same period in the previous year, the business earned $0.88 EPS. The firm's revenue was up 109.3% compared to the same quarter last year. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. As a group, analysts anticipate that Lumentum Holdings Inc. will post 19.76 EPS for the current year.
Lumentum Company Profile
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Free Report)
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.
Further Reading
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