MBL Wealth LLC Makes New Investment in Lumentum Holdings Inc. $LITE

Key Points

• MBL Wealth LLC bought 2,220 shares of Lumentum in the third quarter, valued at approximately $2.16 million. Institutional investors collectively own 94.05% of the company.
• Lumentum’s shares opened at $752.54, down 11.5%, despite the company reporting quarterly EPS of $3.23—above the $2.97 consensus—and revenue growth of 109.3% year over year.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $1,080.83, while insiders have sold about $86 million of stock over the past 90 days.

MBL Wealth LLC purchased a new stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,220 shares of the technology company's stock, valued at approximately $2,156,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Jupiter Topco LLC bought a new stake in shares of Lumentum in the 2nd quarter valued at about $1,621,396,000. WT Asset Management Ltd bought a new position in Lumentum during the second quarter worth about $494,688,000. Legal & General Group Plc bought a new position in Lumentum during the second quarter worth about $376,539,000. Amundi grew its holdings in Lumentum by 188.7% during the second quarter. Amundi now owns 658,427 shares of the technology company's stock worth $564,970,000 after purchasing an additional 430,355 shares during the period. Finally, Janus Henderson Group PLC grew 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 purchasing an additional 351,676 shares during the period. Institutional investors own 94.05% of the company's stock.

Lumentum Stock Down 11.5%

Shares of LITE opened at $752.54 on Friday. Lumentum Holdings Inc. has a 52 week low of $157.40 and a 52 week high of $1,143.00. The firm has a market cap of $68.17 billion, a P/E ratio of -9.15 and a beta of 1.53. The firm's 50-day simple moving average is $927.74 and its 200 day simple moving average is $878.60. 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 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.26. The firm had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $987.70 million. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The business's revenue was up 109.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 EPS. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. On average, analysts forecast that Lumentum Holdings Inc. will post 19.79 earnings per share for the current year.

Analyst Ratings Changes

LITE has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on Lumentum from $1,165.00 to $1,280.00 and gave the company an "overweight" rating in a research note on Wednesday, August 12th. Jefferies Financial Group lifted their target price on Lumentum from $1,200.00 to $1,250.00 and gave the stock a "buy" rating in a research note on Tuesday. Citigroup boosted their target price on Lumentum from $1,200.00 to $1,400.00 and gave the stock a "buy" rating in a report on Monday, September 28th. Wolfe Research restated an "outperform" rating on shares of Lumentum in a research note on Friday, August 21st. Finally, Bank of America cut their price target on Lumentum from $1,100.00 to $1,000.00 and set a "neutral" rating for the company in a report on Wednesday, August 12th. Sixteen equities 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,080.83.

Insider Buying and Selling

In related news, SVP Jae Kim sold 12,000 shares of Lumentum stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $852.58, for a total transaction of $10,230,960.00. Following the completion of the sale, the senior vice president directly owned 37,804 shares of the company's stock, valued at approximately $32,230,934.32. This trade represents a 24.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vincent Retort sold 38,663 shares of the business's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $852.59, for a total value of $32,963,687.17. Following the completion of the sale, the insider owned 78,440 shares of the company's stock, valued at $66,877,159.60. This trade represents a 33.02% 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 valued at $85,978,498 in the last ninety days. 0.28% of the stock is currently owned by company insiders.

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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