Ethic Inc. Purchases 4,323 Shares of Lumentum Holdings Inc. $LITE

Key Points

• Ethic Inc. has increased its stake in Lumentum Holdings Inc. by 82.3%, acquiring 4,323 additional shares, bringing its total ownership to 9,574 shares valued at approximately $609,000.
• Various institutional investors, including Nuveen Asset Management and Balyasny Asset Management, have significantly increased their stakes in Lumentum, showcasing strong investor interest in the company.
• JPMorgan Chase & Co. has raised its price target for Lumentum shares from $123.00 to $145.00, with the stock receiving a consensus rating of "Moderate Buy" and a target price of $122.85 from analysts.

Ethic Inc. boosted its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 82.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 9,574 shares of the technology company's stock after purchasing an additional 4,323 shares during the period. Ethic Inc.'s holdings in Lumentum were worth $609,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Lumentum by 0.6% in the first quarter. Vanguard Group Inc. now owns 7,430,185 shares of the technology company's stock valued at $463,198,000 after purchasing an additional 47,811 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new stake in Lumentum in the first quarter valued at approximately $260,000. Crestline Management LP purchased a new stake in Lumentum in the fourth quarter valued at approximately $4,435,000. UMB Bank n.a. grew its stake in Lumentum by 132.9% during the first quarter. UMB Bank n.a. now owns 785 shares of the technology company's stock worth $49,000 after buying an additional 448 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Lumentum by 1.1% during the first quarter. Principal Financial Group Inc. now owns 159,154 shares of the technology company's stock worth $9,922,000 after buying an additional 1,660 shares during the period. Hedge funds and other institutional investors own 94.05% of the company's stock.

Insider Activity

In other Lumentum news, insider Vincent Retort sold 22,719 shares of the business'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 owned 121,747 shares of the company's stock, valued at approximately $13,392,170. The trade was a 15.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Yuen Wupen sold 241 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $108.34, for a total value of $26,109.94. Following the completion of the sale, the insider owned 78,597 shares in the company, valued at approximately $8,515,198.98. The trade was a 0.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,313 shares of company stock valued at $7,777,835. 0.19% of the stock is currently owned by company insiders.

Lumentum Stock Up 1.6%

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. 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 12 month low of $45.65 and a 12 month high of $129.98. The business's fifty day moving average price is $102.10 and its 200 day moving average price is $79.97. The company has a market cap of $8.34 billion, a P/E ratio of 518.87 and a beta of 1.33.

Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The technology company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.79 by $0.09. Lumentum had a negative return on equity of 3.02% and a net margin of 1.57%.The company had revenue of $480.70 million during the quarter, compared to the consensus estimate of $465.27 million. During the same quarter in the prior year, the firm posted $0.06 EPS. The firm's revenue for the quarter was up 55.9% compared to the same quarter last year. Lumentum has set its Q1 2026 guidance at 0.950-1.100 EPS. Equities analysts anticipate that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $145.00 price target (up from $135.00) on shares of Lumentum in a report on Wednesday, August 13th. Bank of America raised shares of Lumentum from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $78.00 to $135.00 in a research note on Wednesday, August 13th. UBS Group increased their price target on shares of Lumentum from $78.00 to $130.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 13th. Susquehanna increased their price target on Lumentum to $125.00 and gave the company a "positive" rating in a report on Tuesday, August 12th. Finally, Morgan Stanley raised their price objective on shares of Lumentum from $92.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Lumentum has a consensus rating of "Moderate Buy" and a consensus price target of $122.85.

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.