Patton Fund Management Inc. Makes New Investment in Lumentum Holdings Inc. $LITE

Key Points

• Patton Fund Management disclosed a new first-quarter stake in Lumentum Holdings, buying 7,401 shares valued at about $5.2 million. The position represents 0.9% of Patton’s holdings and is its 13th largest.
• Lumentum reported strong quarterly results, with earnings of $2.37 per share, topping estimates, and revenue up 90.1% year over year. The company also guided Q4 2026 EPS to $2.85-$3.05.
• Wall Street sentiment remains bullish, with several firms raising price targets and the consensus rating sitting at Moderate Buy with a target price of $1,021.95. Meanwhile, insiders have been selling shares through pre-arranged trading plans in recent months.

Patton Fund Management Inc. bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,401 shares of the technology company's stock, valued at approximately $5,201,000. Lumentum makes up 0.9% of Patton Fund Management Inc.'s holdings, making the stock its 13th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of LITE. Arrowstreet Capital Limited Partnership boosted its position in shares of Lumentum by 8,579.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company's stock valued at $254,350,000 after acquiring an additional 1,545,199 shares during the last quarter. Norges Bank acquired a new stake in Lumentum during the fourth quarter worth about $474,495,000. Value Aligned Research Advisors LLC acquired a new stake in Lumentum during the fourth quarter worth about $432,062,000. Situational Awareness LP raised its stake in Lumentum by 210.9% during the fourth quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company's stock worth $478,577,000 after purchasing an additional 880,800 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in Lumentum by 707.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company's stock worth $366,555,000 after purchasing an additional 871,249 shares during the period. 94.05% of the stock is owned by institutional investors and hedge funds.

Lumentum Trading Up 0.2%

Shares of LITE stock opened at $818.73 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. The firm has a market cap of $63.70 billion, a PE ratio of 151.62 and a beta of 1.47. The company has a 50-day moving average of $901.03 and a two-hundred day moving average of $670.68. Lumentum Holdings Inc. has a 1-year low of $88.37 and a 1-year high of $1,085.68.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating analysts' consensus estimates of $2.27 by $0.10. The business had revenue of $808.40 million during the quarter, compared to analysts' expectations of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The business's revenue for the quarter was up 90.1% on a year-over-year basis. During the same period last year, the business earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, analysts predict that Lumentum Holdings Inc. will post 6.4 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on LITE. BNP Paribas Exane increased their price target on shares of Lumentum from $1,040.00 to $1,300.00 in a research note on Wednesday, May 6th. Rosenblatt Securities lifted their price target on shares of Lumentum from $900.00 to $1,300.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. upped their price objective on Lumentum from $950.00 to $1,130.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Susquehanna upped their price objective on Lumentum from $550.00 to $1,100.00 and gave the company a "positive" rating in a report on Monday, April 20th. Finally, Zacks Research upgraded Lumentum from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,021.95.

Insider Transactions at Lumentum

In other Lumentum news, Director Isaac Hosojiro Harris sold 1,416 shares of the company's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total transaction of $1,416,113.28. Following the transaction, the director directly owned 6,984 shares in the company, valued at $6,984,558.72. This represents a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vincent Retort sold 3,183 shares of the firm's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $3,036,422.85. Following the transaction, the insider 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 disclosure for this sale is available in the SEC filing. 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 41,260 shares of company stock worth $38,859,220 in the last three months. Company insiders own 0.43% of the company's stock.

Lumentum Company 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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