Florida Financial Advisors LLC Buys Shares of 5,442 Lumentum Holdings Inc. $LITE

Key Points

• Florida Financial Advisors LLC disclosed a new fourth-quarter stake in Lumentum Holdings, buying 5,442 shares valued at about $2.0 million.
• Insider selling was notable: Director Ian Small and CFO Wajid Ali both sold shares recently, and insiders have sold 35,844 shares over the past 90 days.
• Wall Street remains broadly positive on Lumentum, with a Moderate Buy consensus and a $1,012.43 average price target, while the company also recently reported strong quarterly results with earnings and revenue growth.

Florida Financial Advisors LLC bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,442 shares of the technology company's stock, valued at approximately $2,003,000.

A number of other hedge funds also recently added to or reduced their stakes in LITE. Advisors Asset Management Inc. lifted its stake in Lumentum by 36.8% in the first quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company's stock valued at $59,000 after buying an additional 254 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Lumentum by 109.9% in the first quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company's stock valued at $747,000 after buying an additional 6,275 shares during the last quarter. Empowered Funds LLC lifted its stake in Lumentum by 9.1% in the first quarter. Empowered Funds LLC now owns 8,139 shares of the technology company's stock valued at $507,000 after buying an additional 680 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Lumentum in the second quarter valued at $298,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Lumentum in the second quarter valued at $1,712,000. 94.05% of the stock is currently owned by institutional investors.

Insider Activity at Lumentum

In other Lumentum news, Director Ian Small sold 4,954 shares of the firm's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $868.07, for a total value of $4,300,418.78. Following the completion of the transaction, the director directly owned 21,008 shares in the company, valued at $18,236,414.56. This trade represents a 19.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Wajid Ali sold 2,487 shares of the firm's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $2,372,473.65. Following the completion of the transaction, the chief financial officer owned 60,951 shares of the company's stock, valued at approximately $58,144,206.45. The trade was a 3.92% decrease in their ownership of the stock. 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. In the last ninety days, insiders sold 35,844 shares of company stock valued at $34,003,107. Corporate insiders own 0.43% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LITE. Morgan Stanley raised their price target on Lumentum from $710.00 to $900.00 and gave the company an "equal weight" rating in a report on Wednesday, May 6th. Raymond James Financial reissued an "outperform" rating and set a $1,014.00 price target on shares of Lumentum in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Lumentum in a report on Tuesday, April 21st. Needham & Company LLC upped their price target on shares of Lumentum from $880.00 to $1,040.00 and gave the company a "buy" rating in a report on Tuesday, April 21st. Finally, Loop Capital raised their price objective on shares of Lumentum from $900.00 to $1,400.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Lumentum presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,012.43.

Lumentum Stock Performance

NASDAQ:LITE opened at $854.96 on Monday. Lumentum Holdings Inc. has a twelve month low of $71.04 and a twelve month high of $1,085.68. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average of $862.40 and a 200-day moving average of $585.91. The firm has a market cap of $66.52 billion, a price-to-earnings ratio of 158.33 and a beta of 1.47.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.10. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The company had revenue of $808.40 million during the quarter, compared to analyst estimates of $810.21 million. During the same quarter last year, the firm posted $0.57 EPS. The business's revenue for the quarter was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Analysts forecast that Lumentum Holdings Inc. will post 6.49 earnings per share for the current fiscal year.

Lumentum Company Profile

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.

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