10,293 Shares in Lumentum Holdings Inc. $LITE Acquired by FORA Capital LLC

Key Points

• FORA Capital LLC invested $642,000 in Lumentum Holdings Inc., acquiring 10,293 shares during the first quarter, highlighting strong institutional interest in the technology company.
• Lumentum reported quarterly earnings of $0.88 per share, exceeding analyst expectations and showcasing a 55.9% year-over-year revenue increase to $480.70 million.
• Several analysts have raised their target prices for Lumentum shares, with JPMorgan now setting a target of $145.00 and the consensus rating being "Moderate Buy" with an average target price of $122.85.

FORA Capital LLC bought a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 10,293 shares of the technology company's stock, valued at approximately $642,000.

Several other hedge funds have also recently added to or reduced their stakes in LITE. Oregon Public Employees Retirement Fund raised its stake in shares of Lumentum by 1.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 14,130 shares of the technology company's stock worth $881,000 after buying an additional 176 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its stake in shares of Lumentum by 6.8% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,465 shares of the technology company's stock worth $216,000 after buying an additional 220 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Lumentum by 0.4% in the 4th quarter. California State Teachers Retirement System now owns 64,170 shares of the technology company's stock worth $5,387,000 after buying an additional 251 shares in the last quarter. Golden State Wealth Management LLC raised its stake in shares of Lumentum by 103.2% in the 1st quarter. Golden State Wealth Management LLC now owns 512 shares of the technology company's stock worth $32,000 after buying an additional 260 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Lumentum by 3.4% in the 1st quarter. State of Alaska Department of Revenue now owns 8,103 shares of the technology company's stock worth $505,000 after buying an additional 270 shares in the last quarter. Institutional investors own 94.05% of the company's stock.

Insider Buying and Selling

In related news, SVP Jae Kim sold 4,507 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $116.88, for a total transaction of $526,778.16. Following the completion of the transaction, the senior vice president owned 33,465 shares of the company's stock, valued at approximately $3,911,389.20. The trade was a 11.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Yuen Wupen sold 3,281 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $124.86, for a total value of $409,665.66. Following the transaction, the insider directly owned 101,273 shares of the company's stock, valued at $12,644,946.78. This represents a 3.14% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,909 shares of company stock valued at $9,419,867. 0.19% of the stock is owned by corporate insiders.

Lumentum Stock Down 2.0%

Shares of LITE stock traded down $2.74 on Monday, reaching $132.81. 2,842,524 shares of the company's stock traded hands, compared to its average volume of 3,488,051. Lumentum Holdings Inc. has a 12-month low of $45.65 and a 12-month high of $137.10. The company has a debt-to-equity ratio of 2.26, a quick ratio of 3.18 and a current ratio of 4.37. The company has a market capitalization of $9.28 billion, a P/E ratio of 577.43 and a beta of 1.42. The business's 50 day moving average price is $106.17 and its two-hundred day moving average price is $81.54.

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

Analyst Upgrades and Downgrades

LITE has been the topic of a number of research reports. Morgan Stanley boosted their price objective on Lumentum from $92.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 13th. Rosenblatt Securities reissued a "buy" rating and issued a $150.00 price objective on shares of Lumentum in a research note on Thursday, August 14th. Citigroup initiated coverage on Lumentum in a research note on Friday. They issued a "buy" rating and a $165.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on Lumentum from $123.00 to $145.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Finally, B. Riley lifted their target price on Lumentum from $73.00 to $83.00 and gave the stock a "neutral" rating in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $125.86.

Lumentum Profile

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.