Jackson Square Capital LLC Takes $2.42 Million Position in Lumentum Holdings Inc. $LITE

Key Points

• Jackson Square Capital LLC invested approximately $2.42 million in shares of Lumentum Holdings Inc., acquiring 25,444 shares during the second quarter.
• Lumentum recently received multiple positive ratings from analysts, with a consensus price target of $128.00 and a "Moderate Buy" rating based on twelve buy ratings and two strong buys.
• The company's quarterly earnings report showed a revenue increase of 55.9% year-over-year, with reported earnings per share beating analyst expectations by $0.09.

Jackson Square Capital 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 firm bought 25,444 shares of the technology company's stock, valued at approximately $2,419,000.

A number of other hedge funds have also made changes to their positions in LITE. Vanguard Group Inc. grew its holdings in Lumentum by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 7,430,185 shares of the technology company's stock worth $463,198,000 after acquiring an additional 47,811 shares during the last quarter. PointState Capital LP bought a new stake in Lumentum during the 1st quarter worth about $213,503,000. Atreides Management LP grew its holdings in Lumentum by 6.8% during the 1st quarter. Atreides Management LP now owns 1,875,257 shares of the technology company's stock worth $116,904,000 after acquiring an additional 119,938 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Lumentum by 1.1% during the 1st quarter. Alliancebernstein L.P. now owns 1,731,041 shares of the technology company's stock worth $107,913,000 after acquiring an additional 19,085 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in Lumentum by 26.9% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,063,529 shares of the technology company's stock worth $66,300,000 after acquiring an additional 225,240 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LITE shares. Bank of America raised shares of Lumentum from an "underperform" rating to a "neutral" rating and raised their target price for the company from $78.00 to $135.00 in a research note on Wednesday, August 13th. Wall Street Zen lowered shares of Lumentum from a "buy" rating to a "hold" rating in a research note on Monday, September 15th. Needham & Company LLC reissued a "buy" rating and set a $145.00 price objective (up previously from $135.00) on shares of Lumentum in a research note on Wednesday, August 13th. Susquehanna lifted their price objective on shares of Lumentum to $125.00 and gave the stock a "positive" rating in a research note on Tuesday, August 12th. Finally, Citigroup started coverage on shares of Lumentum in a report on Friday, August 29th. They set a "buy" rating and a $165.00 target price on the stock. 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 company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $128.00.

Insider Activity

In other Lumentum news, Director Alan S. Lowe sold 20,000 shares of Lumentum stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $93.47, for a total transaction of $1,869,400.00. Following the completion of the transaction, the director directly owned 230,471 shares of the company's stock, valued at $21,542,124.37. The trade was a 7.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Yuen Wupen sold 3,282 shares of Lumentum stock in a transaction on Monday, August 25th. The stock was sold at an average price of $119.25, for a total transaction of $391,378.50. Following the transaction, the insider directly owned 104,554 shares of the company's stock, valued at approximately $12,468,064.50. This trade represents a 3.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,687 shares of company stock valued at $6,628,952. 0.19% of the stock is owned by company insiders.

Lumentum Stock Performance

LITE stock traded down $2.77 during midday trading on Friday, reaching $168.73. 4,446,450 shares of the company were exchanged, compared to its average volume of 3,854,425. The company has a debt-to-equity ratio of 2.26, a current ratio of 4.37 and a quick ratio of 3.18. The business has a 50-day moving average price of $125.06 and a two-hundred day moving average price of $90.08. Lumentum Holdings Inc. has a one year low of $45.65 and a one year high of $173.38. The firm has a market capitalization of $11.79 billion, a price-to-earnings ratio of 733.61 and a beta of 1.42.

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, topping analysts' consensus estimates of $0.79 by $0.09. Lumentum had a net margin of 1.57% and a negative return on equity of 3.02%. The firm had revenue of $480.70 million during the quarter, compared to analysts' expectations of $465.27 million. During the same period in the previous year, the business posted $0.06 earnings per share. The company'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 research analysts forecast that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

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.