Lumentum Holdings Inc. $LITE Shares Acquired by Adams Diversified Equity Fund Inc.

Key Points

• Adams Diversified Equity Fund increased its Lumentum position by 73.7% in the third quarter, adding 4,200 shares for a total of 9,900 shares valued at $9.6 million. Institutional investors collectively own 94.05% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $1,080.83, though ratings range from “Sell” to “Outperform.”
• Lumentum exceeded quarterly earnings and revenue expectations, reporting $3.23 in EPS and $1.01 billion in revenue, while insiders sold approximately $86 million in stock over the past 90 days under pre-arranged trading plans.

Adams Diversified Equity Fund Inc. increased its position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 73.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,900 shares of the technology company's stock after acquiring an additional 4,200 shares during the period. Adams Diversified Equity Fund Inc.'s holdings in Lumentum were worth $9,615,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Red Spruce Capital LLC boosted its position in shares of Lumentum by 0.4% in the 3rd quarter. Red Spruce Capital LLC now owns 3,200 shares of the technology company's stock worth $3,108,000 after buying an additional 12 shares in the last quarter. CYBER HORNET ETFs LLC increased its holdings in Lumentum by 7.2% during the 2nd quarter. CYBER HORNET ETFs LLC now owns 209 shares of the technology company's stock valued at $179,000 after acquiring an additional 14 shares in the last quarter. Hilltop National Bank increased its holdings in Lumentum by 26.8% during the 2nd quarter. Hilltop National Bank now owns 71 shares of the technology company's stock valued at $61,000 after acquiring an additional 15 shares in the last quarter. Sachetta LLC increased its holdings in Lumentum by 118.8% during the 1st quarter. Sachetta LLC now owns 35 shares of the technology company's stock valued at $25,000 after acquiring an additional 19 shares in the last quarter. Finally, Kieckhefer Group LLC raised its position in Lumentum by 0.8% during the third quarter. Kieckhefer Group LLC now owns 3,191 shares of the technology company's stock worth $3,099,000 after acquiring an additional 25 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wolfe Research reaffirmed an "outperform" rating on shares of Lumentum in a report on Friday, August 21st. Zacks Research cut shares of Lumentum from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 12th. JPMorgan Chase & Co. lifted their price objective on Lumentum from $1,165.00 to $1,280.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 12th. Stifel Nicolaus lifted their price objective on Lumentum from $1,100.00 to $1,232.00 and gave the stock a "buy" rating in a research report on Monday, October 5th. Finally, Bank of America reduced their target price on Lumentum from $1,100.00 to $1,000.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 12th. Sixteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,080.83.

Insider Buying and Selling at Lumentum

In other news, CFO Wajid Ali sold 24,542 shares of Lumentum stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $1,048.50, for a total value of $25,732,287.00. Following the completion of the sale, the chief financial officer owned 75,074 shares of the company's stock, valued at $78,715,089. The trade was a 24.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 307 shares of the company's stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $945.00, for a total value of $290,115.00. Following the completion of the transaction, the insider owned 108,320 shares of the company's stock, valued at $102,362,400. The trade was a 0.28% 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. Insiders have sold 94,496 shares of company stock worth $85,978,498 in the last 90 days. Insiders own 0.28% of the company's stock.

Lumentum Stock Performance

Shares of NASDAQ LITE opened at $752.54 on Friday. The company has a 50-day simple moving average of $927.74 and a 200-day simple moving average of $878.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.68 and a quick ratio of 1.40. The company has a market cap of $68.17 billion, a PE ratio of -9.15 and a beta of 1.53. Lumentum Holdings Inc. has a 12 month low of $157.40 and a 12 month high of $1,143.00.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The technology company reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.26. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $987.70 million. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The company's quarterly revenue was up 109.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 earnings per share. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. On average, equities analysts anticipate that Lumentum Holdings Inc. will post 19.79 earnings per share for the current year.

About Lumentum

Lumentum Holdings Inc is a technology company that designs and manufactures optical and photonic products for communications networks, industrial applications, and consumer electronics. Its portfolio includes optical components, modules, and subsystems used in fiber-optic networks, data centers, cloud computing infrastructure, telecommunications equipment, and high-speed connectivity systems.

The company also develops laser products for applications such as industrial processing, sensing, three-dimensional imaging, and other specialized commercial and consumer uses.

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