Callan Family Office LLC bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,677 shares of the technology company's stock, valued at approximately $2,297,000.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Nomura Asset Management Co. Ltd. grew its stake in shares of Lumentum by 45.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company's stock valued at $136,306,000 after buying an additional 114,714 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. bought a new stake in Lumentum during the first quarter worth $2,046,000. Styrax Capital LP raised its position in Lumentum by 3.6% during the first quarter. Styrax Capital LP now owns 140,000 shares of the technology company's stock worth $98,386,000 after acquiring an additional 4,837 shares in the last quarter. Whittier Trust Co. lifted its stake in Lumentum by 21,806.5% in the first quarter. Whittier Trust Co. now owns 74,044 shares of the technology company's stock valued at $57,183,000 after acquiring an additional 73,706 shares during the last quarter. Finally, Andar Capital Management HK Ltd acquired a new stake in Lumentum in the fourth quarter valued at $4,325,000. Institutional investors own 94.05% of the company's stock.
Lumentum Trading Down 1.4%
LITE stock opened at $866.71 on Friday. Lumentum Holdings Inc. has a one year low of $115.89 and a one year high of $1,085.68. The stock has a market cap of $77.74 billion, a price-to-earnings ratio of -10.54 and a beta of 1.50. The company has a fifty day moving average price of $809.76 and a two-hundred day moving average price of $790.21. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.68 and a quick ratio of 1.40.
Lumentum (NASDAQ:LITE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The technology company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.26. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $987.70 million. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The company's revenue was up 109.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 earnings per share. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Equities analysts anticipate that Lumentum Holdings Inc. will post 19.76 EPS for the current year.
Key Lumentum News
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
Insider Activity at Lumentum
In other news, insider Vincent Retort sold 3,183 shares of the business'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 completion of the sale, the insider owned 114,495 shares in the company, valued at $104,125,187.85. The trade was a 2.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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. Also, insider Yuen Wupen sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $827.82, for a total value of $1,241,730.00. Following the completion of the transaction, the insider directly owned 100,434 shares in the company, valued at $83,141,273.88. The trade was a 1.47% 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 16,352 shares of company stock valued at $14,315,562 in the last 90 days. Insiders own 0.43% of the company's stock.
Analysts Set New Price Targets
Several research firms have recently weighed in on LITE. Morgan Stanley boosted their price objective on shares of Lumentum from $900.00 to $1,000.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 12th. Citigroup reiterated a "buy" rating on shares of Lumentum in a research note on Wednesday, August 12th. Wolfe Research reiterated an "outperform" rating on shares of Lumentum in a report on Friday. Zacks Research raised Lumentum from a "hold" rating to a "strong-buy" rating in a research report on Thursday. Finally, Barclays upped their price objective on Lumentum from $750.00 to $1,000.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. One investment 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's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $1,044.67.
Check Out Our Latest Research Report on Lumentum
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.
See Also
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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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