Lumentum Holdings Inc. $LITE Shares Bought by Harvest Fund Management Co. Ltd

Key Points

• Harvest Fund Management more than doubled its stake in Lumentum during the fourth quarter, buying an additional 2,013 shares and bringing its holding to 4,018 shares worth about $1.48 million.
• Several analysts turned more bullish on Lumentum, including Northland Securities raising its price target to $1,200 and maintaining an outperform rating. Overall, the stock carries a Moderate Buy consensus and a target price around $1,021.95.
• Lumentum also announced a $650.4 million private exchange of convertible notes and reported strong quarterly results, beating EPS estimates and posting 90.1% revenue growth year over year.

Harvest Fund Management Co. Ltd grew its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 100.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,018 shares of the technology company's stock after purchasing an additional 2,013 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Lumentum were worth $1,480,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in shares of Lumentum by 363.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company's stock valued at $27,000 after purchasing an additional 131 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Lumentum during the 4th quarter valued at $28,000. Danske Bank A S acquired a new position in shares of Lumentum during the 3rd quarter valued at $33,000. Harbour Investments Inc. increased its position in shares of Lumentum by 675.0% during the 4th quarter. Harbour Investments Inc. now owns 93 shares of the technology company's stock valued at $34,000 after purchasing an additional 81 shares during the period. Finally, Chesapeake Asset Management LLC acquired a new position in shares of Lumentum during the 4th quarter valued at $37,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lumentum

In other news, Director Brian Lillie sold 11,951 shares of Lumentum stock in a transaction on Monday, May 11th. The stock was sold at an average price of $981.64, for a total transaction of $11,731,579.64. Following the transaction, the director owned 13,959 shares in the company, valued at approximately $13,702,712.76. The trade was a 46.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian Small sold 4,954 shares of Lumentum stock in a transaction on 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 transaction, the director owned 21,008 shares in the company, valued at $18,236,414.56. This represents a 19.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 41,260 shares of company stock valued at $38,859,220 in the last ninety days. Company insiders own 0.43% of the company's stock.

Lumentum News Summary

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Northland Securities raised its price target on Lumentum to $1,200 from $1,000 and kept an outperform rating, reinforcing the bullish analyst view on the stock. Article Title
• Positive Sentiment: Lumentum announced a $650.4 million private exchange of convertible notes, which may reduce financing overhang and improve balance-sheet flexibility. Article Title
• Positive Sentiment: Analyst sentiment remains favorable overall, with Lumentum holding an average rating of “Moderate Buy” and multiple firms maintaining positive price targets. Article Title
• Positive Sentiment: Investor enthusiasm continues around Lumentum’s role in AI optical interconnects, a narrative that has supported the stock’s longer-term move. Article Title
• Neutral Sentiment: Director Isaac Hosojiro Harris sold 1,416 shares in a pre-arranged 10b5-1 plan; while routine, insider selling can still make some investors cautious. Article Title
• Neutral Sentiment: Articles asking why LITE has been softer since its last earnings report mainly point to post-earnings digestion and valuation, rather than a new fundamental problem. Article Title

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Rosenblatt Securities lifted their price target on Lumentum from $900.00 to $1,300.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Citigroup lifted their target price on Lumentum from $800.00 to $1,100.00 and gave the stock a "buy" rating in a report on Tuesday, April 21st. BNP Paribas Exane lifted their target price on Lumentum from $1,040.00 to $1,300.00 in a report on Wednesday, May 6th. Zacks Research upgraded Lumentum from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 13th. Finally, Jefferies Financial Group restated a "buy" rating and issued a $1,200.00 target price on shares of Lumentum in a report 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, Lumentum currently has an average rating of "Moderate Buy" and a consensus target price of $1,021.95.

Lumentum Stock Performance

Shares of LITE stock opened at $863.66 on Friday. Lumentum Holdings Inc. has a 1-year low of $80.39 and a 1-year 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 market capitalization of $67.19 billion, a price-to-earnings ratio of 159.94 and a beta of 1.47. The stock's fifty day simple moving average is $880.29 and its 200-day simple moving average is $607.80.

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

Lumentum 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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