Arnhold LLC Raises Position in Lumentum Holdings Inc. $LITE

Key Points

• Arnhold LLC increased its holdings in Lumentum Holdings Inc. by 27.6% in Q1, owning 216,117 shares valued at approximately $13.47 million.
• Lumentum's stock opened at $117.43, with a market capitalization of $8.15 billion and a P/E ratio of 510.57.
• The company reported $480.70 million in revenue for the recent quarter, up 55.9% year-over-year, exceeding analysts' expectations.

Arnhold LLC raised its holdings in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 27.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 216,117 shares of the technology company's stock after buying an additional 46,698 shares during the quarter. Lumentum comprises 1.4% of Arnhold LLC's investment portfolio, making the stock its 27th largest position. Arnhold LLC owned approximately 0.31% of Lumentum worth $13,473,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in LITE. Channing Capital Management LLC bought a new stake in shares of Lumentum during the first quarter valued at approximately $36,715,000. Fuller & Thaler Asset Management Inc. boosted its position in shares of Lumentum by 26.9% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,063,529 shares of the technology company's stock valued at $66,300,000 after purchasing an additional 225,240 shares in the last quarter. Seek First Inc. bought a new stake in shares of Lumentum during the first quarter valued at approximately $292,000. Northwest & Ethical Investments L.P. bought a new stake in shares of Lumentum during the first quarter valued at approximately $436,000. Finally, Ethic Inc. grew its stake in shares of Lumentum by 82.3% in the 1st quarter. Ethic Inc. now owns 9,574 shares of the technology company's stock worth $609,000 after buying an additional 4,323 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. UBS Group raised their price objective on Lumentum from $78.00 to $130.00 and gave the company a "neutral" rating in a research report on Wednesday, August 13th. Susquehanna boosted their target price on Lumentum to $125.00 and gave the stock a "positive" rating in a report on Tuesday, August 12th. Raymond James Financial boosted their target price on Lumentum from $125.00 to $145.00 and gave the stock a "strong-buy" rating in a report on Wednesday, August 13th. Rosenblatt Securities reissued a "buy" rating and issued a $150.00 target price on shares of Lumentum in a report on Thursday, August 14th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $145.00 price target (up previously from $135.00) on shares of Lumentum in a report on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.85.

Insider Transactions at Lumentum

In other news, insider Vincent Retort sold 22,719 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $110.00, for a total value of $2,499,090.00. Following the transaction, the insider directly owned 121,747 shares in the company, valued at $13,392,170. This trade represents a 15.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Alan S. Lowe sold 20,000 shares of Lumentum stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $93.47, for a total transaction of $1,869,400.00. Following the transaction, the director owned 230,471 shares in the company, valued at $21,542,124.37. This represents a 7.98% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,313 shares of company stock worth $7,777,835. Company insiders own 0.19% of the company's stock.

Lumentum Stock Performance

LITE stock traded up $1.91 on Friday, hitting $119.34. The company had a trading volume of 2,679,776 shares, compared to its average volume of 3,079,510. Lumentum Holdings Inc. has a 12-month low of $45.65 and a 12-month high of $129.98. 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 stock's 50-day simple moving average is $102.10 and its 200 day simple moving average is $79.88. The stock has a market cap of $8.34 billion, a price-to-earnings ratio of 518.87 and a beta of 1.33.

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

Lumentum Company 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.