Fifth Third Wealth Advisors LLC Invests $221,000 in Lumentum Holdings Inc. $LITE

Key Points

• Fifth Third Wealth Advisors LLC invested $221,000 in Lumentum Holdings Inc. during the second quarter, purchasing 2,327 shares.
• Several analysts have raised their price targets for Lumentum, with Morgan Stanley and others boosting their estimates to as high as $145, indicating positive growth outlook.
• Despite significant insider selling, Lumentum's stock has performed well, recently posting earnings of $0.88 per share, surpassing estimates and showing a revenue increase of 55.9% year-over-year.

Fifth Third Wealth Advisors LLC bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 2,327 shares of the technology company's stock, valued at approximately $221,000.

A number of other institutional investors have also modified their holdings of LITE. PointState Capital LP acquired a new position in Lumentum during the 1st quarter worth approximately $213,503,000. Analog Century Management LP acquired a new position in Lumentum during the 1st quarter worth approximately $60,348,000. Channing Capital Management LLC acquired a new position in Lumentum during the 1st quarter worth approximately $36,715,000. Nuveen LLC acquired a new position in Lumentum during the 1st quarter worth approximately $27,054,000. Finally, Junto Capital Management LP acquired a new position in Lumentum during the 1st quarter worth approximately $20,974,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on LITE shares. Morgan Stanley boosted their price target on Lumentum from $100.00 to $145.00 and gave the stock an "equal weight" rating in a research report on Friday. Wolfe Research started coverage on Lumentum in a research report on Tuesday, August 12th. They set an "outperform" rating on the stock. Stifel Nicolaus boosted their price target on Lumentum from $100.00 to $132.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. JPMorgan Chase & Co. upped their target price on Lumentum from $123.00 to $145.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Finally, Raymond James Financial upped their target price on Lumentum from $125.00 to $145.00 and gave the company a "strong-buy" rating in a research report on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $136.57.

Lumentum Stock Performance

Shares of LITE opened at $156.78 on Wednesday. The business's 50 day moving average is $144.44 and its two-hundred day moving average is $101.43. Lumentum Holdings Inc. has a 52-week low of $45.65 and a 52-week high of $178.49. The firm has a market cap of $11.12 billion, a price-to-earnings ratio of 681.65 and a beta of 1.42. 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 posted its quarterly earnings results on Tuesday, August 12th. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.09. The business had revenue of $480.70 million for the quarter, compared to analyst estimates of $465.27 million. Lumentum had a negative return on equity of 3.02% and a net margin of 1.57%.The business's revenue was up 55.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.06 EPS. Lumentum has set its Q1 2026 guidance at 0.950-1.100 EPS. Analysts forecast that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling at Lumentum

In related news, insider Vincent Retort sold 22,719 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $110.00, for a total transaction of $2,499,090.00. Following the sale, the insider directly owned 121,747 shares of the company's stock, valued at approximately $13,392,170. This represents a 15.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Wajid Ali sold 2,526 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $124.39, for a total value of $314,209.14. Following the sale, the chief financial officer directly owned 77,087 shares in the company, valued at approximately $9,588,851.93. This represents a 3.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,687 shares of company stock worth $4,759,552. 0.43% of the stock is owned by insiders.

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.

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