Fuller & Thaler Asset Management Inc. Boosts Stake in Lumentum Holdings Inc. $LITE

Key Points

• Fuller & Thaler Asset Management Inc. increased its holdings in Lumentum Holdings by 26.9% in the first quarter, now owning over 1 million shares valued at approximately $66.3 million.
• Lumentum reported a 55.9% year-over-year increase in revenue, reaching $480.7 million for the quarter, while earnings per share exceeded analyst expectations at $0.88.
• The stock has received several upgrades from analysts, including a price target increase by Needham & Company LLC from $135.00 to $145.00, indicating strong market confidence.

Fuller & Thaler Asset Management Inc. boosted its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 26.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,063,529 shares of the technology company's stock after buying an additional 225,240 shares during the period. Fuller & Thaler Asset Management Inc. owned approximately 1.53% of Lumentum worth $66,300,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Seek First Inc. purchased a new stake in shares of Lumentum during the 1st quarter worth approximately $292,000. Northwest & Ethical Investments L.P. bought a new stake in Lumentum in the first quarter worth $436,000. Ethic Inc. raised its stake in Lumentum by 82.3% during the first quarter. Ethic Inc. now owns 9,574 shares of the technology company's stock valued at $609,000 after purchasing an additional 4,323 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new position in Lumentum during the first quarter valued at $3,764,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Lumentum by 58.5% in the 1st quarter. Russell Investments Group Ltd. now owns 79,276 shares of the technology company's stock worth $4,942,000 after buying an additional 29,259 shares in the last quarter. Institutional investors own 94.05% of the company's stock.

Insiders Place Their Bets

In related news, insider Vincent Retort sold 22,719 shares of Lumentum stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $110.00, for a total transaction of $2,499,090.00. Following the transaction, the insider directly owned 121,747 shares of the company's stock, valued at $13,392,170. This trade represents a 15.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Julia Suzanne Johnson sold 1,250 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $119.06, for a total value of $148,825.00. Following the completion of the transaction, the director directly owned 22,037 shares of the company's stock, valued at approximately $2,623,725.22. The trade was a 5.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,313 shares of company stock worth $7,777,835. 0.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. KGI Securities began coverage on shares of Lumentum in a report on Monday, August 18th. They issued an "outperform" rating for the company. B. Riley raised their price objective on Lumentum from $73.00 to $83.00 and gave the company a "neutral" rating in a research note on Wednesday, August 13th. Stifel Nicolaus boosted their target price on Lumentum from $100.00 to $132.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Barclays increased their price target on Lumentum from $75.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Finally, Morgan Stanley lifted their price objective on shares of Lumentum from $92.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $122.85.

Lumentum Trading Up 1.6%

Shares of NASDAQ:LITE traded up $1.91 on Friday, hitting $119.34. 2,679,776 shares of the company's stock were exchanged, compared to its average volume of 2,991,241. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of 518.87 and a beta of 1.33. Lumentum Holdings Inc. has a 12 month low of $45.65 and a 12 month high of $129.98. 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's 50 day simple moving average is $102.10 and its two-hundred day simple moving average is $80.03.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $465.27 million. During the same period in the prior year, the business posted $0.06 earnings per share. The business's revenue for the quarter was up 55.9% on a year-over-year basis. Lumentum has set its Q1 2026 guidance at 0.950-1.100 EPS. Analysts anticipate that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal 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.