Landscape Capital Management L.L.C. Grows Position in Lumentum Holdings Inc. $LITE

Key Points

• Landscape Capital Management boosted its stake in Lumentum Holdings by 335.9% in the fourth quarter, ending with 13,390 shares valued at about $4.9 million.
• Lumentum reported strong quarterly results, with earnings of $2.37 per share topping estimates and revenue rising 90.1% year over year to $808.4 million.
• Analysts remain broadly positive on the stock: several firms raised price targets, and the consensus rating is Moderate Buy with an average target of $1,021.95.

Landscape Capital Management L.L.C. increased its position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 335.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,390 shares of the technology company's stock after purchasing an additional 10,318 shares during the quarter. Landscape Capital Management L.L.C.'s holdings in Lumentum were worth $4,935,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in LITE. Advisors Asset Management Inc. lifted its stake in shares of Lumentum by 36.8% in the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company's stock valued at $59,000 after purchasing an additional 254 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Lumentum by 109.9% in the 1st quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company's stock valued at $747,000 after purchasing an additional 6,275 shares during the period. Empowered Funds LLC lifted its stake in shares of Lumentum by 9.1% in the 1st quarter. Empowered Funds LLC now owns 8,139 shares of the technology company's stock valued at $507,000 after purchasing an additional 680 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Lumentum in the 2nd quarter valued at approximately $298,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Lumentum in the 2nd quarter valued at approximately $1,712,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Insider Transactions at Lumentum

In other news, Director Brian Lillie sold 11,951 shares of the business's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $981.64, for a total value of $11,731,579.64. Following the completion of the transaction, the director owned 13,959 shares in the company, valued at $13,702,712.76. The trade was a 46.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 3,210 shares of the business's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $3,062,179.50. Following the completion of the transaction, the insider owned 81,488 shares of the company's stock, valued at $77,735,477.60. This represents a 3.79% decrease in their position. 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. Over the last ninety days, insiders have sold 41,260 shares of company stock valued at $38,859,220. Insiders own 0.43% of the company's stock.

Lumentum Stock Up 3.6%

Shares of NASDAQ:LITE opened at $921.56 on Friday. The stock has a fifty day simple moving average of $897.64 and a two-hundred day simple moving average of $629.72. The stock has a market capitalization of $71.70 billion, a price-to-earnings ratio of 170.66 and a beta of 1.47. Lumentum Holdings Inc. has a 12-month low of $81.93 and a 12-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.

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on LITE. Loop Capital raised their target price on Lumentum from $900.00 to $1,400.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Morgan Stanley raised their target price on Lumentum from $710.00 to $900.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. lifted their price objective on Lumentum from $950.00 to $1,130.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. UBS Group lifted their price objective on Lumentum from $455.00 to $960.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. Finally, BNP Paribas Exane lifted their price objective on Lumentum from $1,040.00 to $1,300.00 in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $1,021.95.

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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