M&T Bank Corp Acquires 36,012 Shares of Lumentum Holdings Inc. $LITE

Key Points

• M&T Bank Corp increased its stake in Lumentum by 281.1%, buying 36,012 shares to hold 48,824 shares valued at about $17.996 million (roughly 0.07% of the company) after the quarter.
• Company insiders have been net sellers — Director Penny Herscher sold 4,849 shares (~$2.6M) and CFO Wajid Ali sold 5,302 shares (~$3.66M); insiders have sold 65,775 shares worth $38.85M in the last 90 days and now own about 0.43%.
• Lumentum reported strong results (Q EPS $1.67 vs $1.41 est., revenue $665.5M, +65.5% YoY), management says production is sold out through 2027, and analysts have raised targets (average price target ~$757.25) reflecting bullish AI-driven demand.

M&T Bank Corp increased its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 281.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,824 shares of the technology company's stock after purchasing an additional 36,012 shares during the quarter. M&T Bank Corp owned 0.07% of Lumentum worth $17,996,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of LITE. EverSource Wealth Advisors LLC increased its stake in Lumentum by 363.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company's stock worth $27,000 after purchasing an additional 131 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Lumentum during the 4th quarter worth approximately $28,000. Danske Bank A S bought a new stake in Lumentum during the 3rd quarter worth approximately $33,000. Chesapeake Asset Management LLC bought a new stake in Lumentum during the 4th quarter worth approximately $37,000. Finally, BOCHK Asset Management Ltd bought a new position in Lumentum during the 4th quarter worth about $37,000. 94.05% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Penny Herscher sold 4,849 shares of the firm's stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $535.48, for a total value of $2,596,542.52. Following the completion of the transaction, the director owned 6,057 shares in the company, valued at $3,243,402.36. This trade represents a 44.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Wajid Ali sold 5,302 shares of the firm's stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $691.13, for a total value of $3,664,371.26. Following the completion of the transaction, the chief financial officer owned 66,287 shares of the company's stock, valued at $45,812,934.31. The trade was a 7.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 65,775 shares of company stock worth $38,851,343 over the last 90 days. 0.43% of the stock is currently owned by insiders.

Lumentum Trading Down 3.1%

Shares of NASDAQ:LITE opened at $846.89 on Friday. The stock has a market capitalization of $60.47 billion, a PE ratio of 259.78 and a beta of 1.38. The company's 50-day moving average price is $733.38 and its two-hundred day moving average price is $457.53. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.61 and a quick ratio of 0.45. Lumentum Holdings Inc. has a one year low of $55.00 and a one year high of $960.00.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its quarterly earnings data on Tuesday, February 3rd. The technology company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.26. The company had revenue of $665.50 million during the quarter, compared to analysts' expectations of $646.74 million. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.Lumentum's revenue for the quarter was up 65.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 EPS. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. On average, equities analysts forecast that Lumentum Holdings Inc. will post 5.87 EPS for the current fiscal year.

Lumentum News Roundup

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Multiple firms raised targets and estimates — Needham lifted its price target to $1,040 and Susquehanna to $1,100; Morgan Stanley also raised its target to $710, while Northland materially increased FY2027 EPS and quarterly forecasts, reflecting a much stronger revenue/earnings outlook. Needham price target Susquehanna price target Morgan Stanley price target Northland estimates
• Positive Sentiment: Company demand commentary: management says production is sold out through 2027, supporting the narrative of durable, multi‑year optical demand driven by AI and large customer commitments. This underpins higher revenue visibility and the bullish analyst moves. Sold‑out through 2027
• Positive Sentiment: Shifting industry narrative: recent coverage highlights Lumentum’s pivot to AI networking and stronger ties to Nvidia commitments, which supports a re‑rating of the company from telecom optics to an AI‑driven optical leader. Story shifting with AI optics Zacks AI optics note
• Neutral Sentiment: Media mention unrelated to a direct company update — Jim Cramer’s “Stocks That Got Away” segment referenced other names (SanDisk) and does not provide new company‑specific catalysts for Lumentum. Cramer segment
• Negative Sentiment: Launch of first‑to‑market leveraged inverse ETFs targeting LITE (Tradr 2X Short LITE Daily ETF, ticker LITZ) introduces a new, easily traded vehicle to express bearish views — this can increase intraday and short‑term selling pressure and volatility even while fundamentals look strong. Tradr short ETF debut

Analysts Set New Price Targets

A number of equities analysts have issued reports on LITE shares. TD Cowen increased their target price on Lumentum from $675.00 to $875.00 and gave the stock a "hold" rating in a report on Friday, April 10th. Barclays increased their target price on Lumentum to $750.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 3rd. Northland Securities set a $1,000.00 target price on Lumentum in a report on Monday. Bank of America increased their target price on Lumentum to $520.00 and gave the stock a "neutral" rating in a report on Wednesday, February 4th. Finally, Morgan Stanley increased their target price on Lumentum from $595.00 to $710.00 and gave the stock an "equal weight" rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Lumentum currently has an average rating of "Moderate Buy" and an average price target of $757.25.

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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