Optimist Retirement Group LLC Invests $415,000 in Lumentum Holdings Inc. $LITE

Key Points

• Optimist Retirement Group LLC opened a new position in Lumentum Holdings, buying 1,126 shares worth about $415,000 in the fourth quarter.
• Other institutional investors have also been active in Lumentum, and institutions now own 94.05% of the company’s shares.
• Lumentum reported strong quarterly results with EPS of $2.37 topping estimates, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $1,012.43.

Optimist Retirement Group LLC bought a new position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,126 shares of the technology company's stock, valued at approximately $415,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LITE. EverSource Wealth Advisors LLC lifted its stake in shares of Lumentum by 363.9% in the third quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company's stock worth $27,000 after buying an additional 131 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Lumentum in the fourth quarter worth approximately $28,000. Danske Bank A S bought a new position in shares of Lumentum in the third quarter worth approximately $33,000. Harbour Investments Inc. lifted its stake in shares of Lumentum by 675.0% in the fourth quarter. Harbour Investments Inc. now owns 93 shares of the technology company's stock worth $34,000 after buying an additional 81 shares in the last quarter. Finally, Chesapeake Asset Management LLC bought a new position in shares of Lumentum in the fourth quarter worth approximately $37,000. Institutional investors own 94.05% of the company's stock.

Insiders Place Their Bets

In other Lumentum news, insider Vincent Retort sold 3,183 shares of the company's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $3,036,422.85. Following the completion of the sale, the insider directly owned 89,563 shares of the company's stock, valued at approximately $85,438,623.85. This represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Yuen Wupen sold 3,210 shares of the company's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $3,062,179.50. Following the sale, the insider directly owned 81,488 shares of the company's stock, valued at approximately $77,735,477.60. This represents a 3.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 41,146 shares of company stock worth $37,667,478 in the last 90 days. Insiders own 0.43% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LITE. Bank of America upped their target price on shares of Lumentum to $520.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 4th. Raymond James Financial reiterated an "outperform" rating and issued a $1,014.00 target price on shares of Lumentum in a research note on Wednesday, May 6th. Mizuho set a $1,100.00 target price on shares of Lumentum in a research note on Wednesday, May 6th. Barclays upped their target price on shares of Lumentum from $750.00 to $1,000.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 6th. Finally, B. Riley Financial reissued a "buy" rating on shares of Lumentum in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $1,012.43.

Lumentum Trading Down 3.8%

NASDAQ:LITE opened at $910.81 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a 12 month low of $71.04 and a 12 month high of $1,085.68. The company has a market cap of $70.86 billion, a PE ratio of 168.67 and a beta of 1.53. The company has a 50 day simple moving average of $849.55 and a two-hundred day simple moving average of $572.68.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping analysts' consensus estimates of $2.27 by $0.10. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The business had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. During the same quarter in the previous year, the firm posted $0.57 EPS. The firm's revenue was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Research analysts forecast that Lumentum Holdings Inc. will post 6.49 earnings per share for the current year.

About Lumentum

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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