588,940 Shares in Lumentum Holdings Inc. $LITE Purchased by Channing Capital Management LLC

Key Points

• Channing Capital Management LLC has acquired a new stake in Lumentum Holdings Inc., purchasing approximately 588,940 shares valued at about $36.72 million, representing around 0.85% of the company.
• Several analysts have reacted positively towards the stock, with price targets being raised, and a consensus rating of "Moderate Buy" based on multiple upgrades from different firms.
• Lumentum reported a 55.9% increase in revenue year-over-year in its latest quarterly earnings, achieving $480.70 million, while also beating EPS estimates with a reported $0.88.

Channing Capital Management LLC bought a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 588,940 shares of the technology company's stock, valued at approximately $36,715,000. Channing Capital Management LLC owned 0.85% of Lumentum as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the business. CoreCap Advisors LLC grew its stake in Lumentum by 2,235.3% in the fourth quarter. CoreCap Advisors LLC now owns 397 shares of the technology company's stock worth $33,000 after purchasing an additional 380 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new stake in Lumentum in the first quarter worth $25,000. Rakuten Securities Inc. grew its stake in Lumentum by 164.4% in the first quarter. Rakuten Securities Inc. now owns 476 shares of the technology company's stock worth $30,000 after purchasing an additional 296 shares during the period. Golden State Wealth Management LLC grew its stake in Lumentum by 103.2% in the first quarter. Golden State Wealth Management LLC now owns 512 shares of the technology company's stock worth $32,000 after purchasing an additional 260 shares during the period. Finally, UMB Bank n.a. grew its stake in Lumentum by 132.9% in the first quarter. UMB Bank n.a. now owns 785 shares of the technology company's stock worth $49,000 after purchasing an additional 448 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

Lumentum Stock Up 1.6%

Shares of NASDAQ LITE traded up $1.91 during trading on Friday, reaching $119.34. The company had a trading volume of 2,679,776 shares, compared to its average volume of 2,991,241. Lumentum Holdings Inc. has a 12-month low of $45.65 and a 12-month high of $129.98. The stock has a market cap of $8.34 billion, a PE ratio of 518.87 and a beta of 1.33. The business's 50-day moving average is $102.10 and its 200 day moving average is $79.97. The company has a quick ratio of 3.18, a current ratio of 4.37 and a debt-to-equity ratio of 2.26.

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

Analyst Ratings Changes

Several brokerages recently weighed in on LITE. Northland Securities set a $80.00 price target on Lumentum in a research note on Wednesday, May 7th. UBS Group upped their price target on Lumentum from $78.00 to $130.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. upped their price target on Lumentum from $123.00 to $145.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Morgan Stanley upped their price target on Lumentum from $92.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 13th. Finally, B. Riley increased their target price on Lumentum from $73.00 to $83.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 13th. Two investment 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $122.85.

Insider Activity

In other news, SVP Jae Kim sold 912 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $116.45, for a total transaction of $106,202.40. Following the transaction, the senior vice president directly owned 29,820 shares of the company's stock, valued at $3,472,539. This represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alan S. Lowe sold 20,000 shares of the company's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $93.47, for a total value of $1,869,400.00. Following the transaction, the director directly owned 230,471 shares in the company, valued at approximately $21,542,124.37. The trade was a 7.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,313 shares of company stock valued at $7,777,835. Corporate insiders own 0.19% of the company's stock.

About Lumentum

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.