Oliver Luxxe Assets LLC Invests $1.79 Million in Lumentum Holdings Inc. $LITE

Key Points

• Oliver Luxxe Assets LLC initiated a new investment in Lumentum Holdings by purchasing 18,838 shares, valued at approximately $1,791,000.
• For the latest quarter, Lumentum reported an EPS of $0.88, exceeding analyst expectations, and a significant year-over-year revenue growth of 55.9%.
• Several hedge funds increased their stakes in Lumentum, with institutional investors owning 94.05% of the company's stock, highlighting strong interest from institutional investors in the technology sector.

Oliver Luxxe Assets LLC acquired a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 18,838 shares of the technology company's stock, valued at approximately $1,791,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. PointState Capital LP purchased a new position in Lumentum during the first quarter valued at $213,503,000. Analog Century Management LP bought a new stake in shares of Lumentum in the first quarter worth about $60,348,000. Channing Capital Management LLC bought a new stake in shares of Lumentum in the first quarter worth about $36,715,000. Nuveen LLC bought a new stake in Lumentum during the first quarter worth approximately $27,054,000. Finally, Junto Capital Management LP bought a new stake in Lumentum during the first quarter worth approximately $20,974,000. Institutional investors own 94.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Rosenblatt Securities upped their target price on Lumentum from $150.00 to $225.00 and gave the company a "buy" rating in a research note on Monday. Barclays upped their target price on Lumentum from $135.00 to $165.00 and gave the stock an "overweight" rating in a report on Tuesday, September 9th. UBS Group increased their price objective on Lumentum from $78.00 to $130.00 and gave the company a "neutral" rating in a report on Wednesday, August 13th. Morgan Stanley increased their price objective on Lumentum from $92.00 to $100.00 and gave the company an "equal weight" rating in a report on Wednesday, August 13th. Finally, Wall Street Zen downgraded Lumentum from a "buy" rating to a "hold" rating in a research report on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $133.36.

Insider Activity at Lumentum

In other news, insider Yuen Wupen sold 3,282 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $119.25, for a total value of $391,378.50. Following the sale, the insider directly owned 104,554 shares in the company, valued at $12,468,064.50. This represents a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Wajid Ali sold 2,526 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $124.39, for a total transaction of $314,209.14. Following the transaction, the chief financial officer directly owned 77,087 shares in the company, valued at $9,588,851.93. The trade was a 3.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,687 shares of company stock valued at $6,628,952 in the last ninety days. Company insiders own 0.19% of the company's stock.

Lumentum Trading Down 2.4%

Lumentum stock traded down $4.02 during trading on Monday, hitting $164.71. The company had a trading volume of 4,079,221 shares, compared to its average volume of 3,942,846. The company's 50 day simple moving average is $126.51 and its 200-day simple moving average is $91.00. The stock has a market cap of $11.51 billion, a price-to-earnings ratio of 716.13 and a beta of 1.42. The company has a current ratio of 4.37, a quick ratio of 3.18 and a debt-to-equity ratio of 2.26. Lumentum Holdings Inc. has a 1-year low of $45.65 and a 1-year high of $173.38.

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 the consensus estimate of $0.79 by $0.09. Lumentum had a net margin of 1.57% and a negative return on equity of 3.02%. The business had revenue of $480.70 million during the quarter, compared to the consensus estimate of $465.27 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. The company's quarterly revenue was up 55.9% compared to the same quarter last year. Lumentum has set its Q1 2026 guidance at 0.950-1.100 EPS. As a group, analysts expect 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.