Lumentum Holdings Inc. $LITE Shares Newly Bought by Congress Asset Management Co.

Key Points

• Congress Asset Management Co. bought 71,116 Lumentum shares worth approximately $69.1 million during the third quarter, giving it about a 0.08% stake. Institutional investors collectively own 94.05% of the company.
• Lumentum reported stronger-than-expected quarterly results, including $3.23 in adjusted EPS and $1.01 billion in revenue, up 109.3% year over year. The company issued fiscal Q1 2027 EPS guidance of $4.05–$4.35.
• Investor sentiment remains broadly bullish, with a consensus “Moderate Buy” rating and a $1,078.75 price target, while the stock recently traded near its 12-month high. However, its sharp rally and elevated expectations could increase profit-taking risk if upcoming results disappoint.

Congress Asset Management Co. bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 71,116 shares of the technology company's stock, valued at approximately $69,072,000. Congress Asset Management Co. owned approximately 0.08% of Lumentum at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Jupiter Topco LLC purchased a new stake in shares of Lumentum in the 2nd quarter worth approximately $1,621,396,000. Arrowstreet Capital Limited Partnership increased its holdings in Lumentum by 18.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,854,801 shares of the technology company's stock valued at $683,661,000 after buying an additional 291,591 shares during the period. Amundi raised its stake in Lumentum by 188.7% in the second quarter. Amundi now owns 658,427 shares of the technology company's stock worth $564,970,000 after buying an additional 430,355 shares in the last quarter. WT Asset Management Ltd purchased a new stake in Lumentum during the second quarter worth $494,688,000. Finally, Janus Henderson Group PLC lifted its holdings in Lumentum by 163.2% during the first quarter. Janus Henderson Group PLC now owns 567,182 shares of the technology company's stock worth $398,590,000 after buying an additional 351,676 shares during the period. Hedge funds and other institutional investors own 94.05% of the company's stock.

Lumentum News Roundup

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Analysts raised their targets. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,300 price target, while Stifel Nicolaus raised its target from $1,100 to $1,232 and also maintained a “buy” rating. These targets imply further upside and reinforce the bullish view on Lumentum’s growth outlook. Lumentum Given Buy Rating at Rosenblatt Securities Lumentum Stock Gets Price Target Bump from Stifel Nicolaus
• Positive Sentiment: Recent financial performance has strengthened the investment case. Lumentum’s latest quarterly results exceeded analyst expectations, with revenue up more than 100% year over year and earnings above consensus. The company also issued strong fiscal first-quarter 2027 earnings guidance, helping fuel expectations for continued growth. Lumentum Stock Draws Higher Targets After Revenue Doubles
• Positive Sentiment: Technical momentum remains favorable. Reports say Lumentum has reached a new high and passed a technical buy point, with demand for its products—particularly from AI and data-center markets—supporting the rally. Lumentum Hits Buy Point and New High
• Neutral Sentiment: Upcoming earnings are the next major catalyst. Lumentum announced the reporting date for fiscal first-quarter 2027 results, placing greater focus on whether demand and margins can support its elevated valuation. Lumentum Announces Reporting Date
• Negative Sentiment: The stock is approaching technical resistance after a sharp advance. Its substantial rally increases the risk of profit-taking if upcoming results or guidance fail to exceed already-high expectations. Lumentum Stock Hits Crucial Resistance

Lumentum Stock Up 3.8%

LITE stock traded up $41.73 on Tuesday, hitting $1,133.40. 4,247,459 shares of the company's stock were exchanged, compared to its average volume of 5,508,691. The firm has a 50 day moving average price of $888.99 and a two-hundred day moving average price of $860.47. Lumentum Holdings Inc. has a 12-month low of $147.81 and a 12-month high of $1,137.20. The stock has a market cap of $101.67 billion, a P/E ratio of -13.79 and a beta of 1.53. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.40 and a current ratio of 1.68.

Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The technology company reported $3.23 EPS for the quarter, beating analysts' consensus estimates of $2.97 by $0.26. Lumentum had a positive return on equity of 26.34% and a negative net margin of 230.15%.The company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $987.70 million. During the same period last year, the business posted $0.88 earnings per share. The firm's revenue was up 109.3% compared to the same quarter last year. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. As a group, equities research analysts expect that Lumentum Holdings Inc. will post 19.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Raymond James Financial reiterated an "outperform" rating and issued a $1,036.00 price target on shares of Lumentum in a report on Wednesday, August 12th. Evercore initiated coverage on Lumentum in a research note on Monday, August 31st. They set an "outperform" rating and a $1,100.00 price objective for the company. Morgan Stanley raised their price objective on Lumentum from $900.00 to $1,000.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 12th. TD Cowen boosted their target price on shares of Lumentum from $800.00 to $820.00 and gave the stock a "hold" rating in a report on Wednesday, August 12th. Finally, Sanford C. Bernstein started coverage on shares of Lumentum in a report on Wednesday, September 30th. They issued an "outperform" rating and a $1,220.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,078.75.

Insiders Place Their Bets

In related news, CEO Michael E. Hurlston sold 548 shares of the company's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $958.66, for a total value of $525,345.68. Following the transaction, the chief executive officer directly owned 186,951 shares of the company's stock, valued at $179,222,445.66. This represents a 0.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jae Kim sold 12,000 shares of the firm's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $852.58, for a total value of $10,230,960.00. Following the completion of the transaction, the senior vice president owned 37,804 shares of the company's stock, valued at $32,230,934.32. This trade represents a 24.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 94,496 shares of company stock valued at $85,978,498. Corporate insiders own 0.43% of the company's stock.

Lumentum Profile

Lumentum Holdings Inc is a photonics and optical technology company that develops and manufactures products used to transmit, process and manage light. Its solutions support communications networks, data centers, cloud computing infrastructure, industrial applications, and other technology markets that rely on high-speed optical connectivity and precision lasers.

The company's product portfolio includes optical components and modules for telecommunications and networking, lasers and laser systems, optical amplifiers, wavelength-management products, and photonic subsystems.

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