Petrus Trust Company LTA Makes New Investment in Lumentum Holdings Inc. $LITE

Petrus Trust Company LTA purchased a new position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 6,873 shares of the technology company's stock, valued at approximately $428,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. PointState Capital LP acquired a new stake in Lumentum during the 1st quarter worth about $213,503,000. Analog Century Management LP acquired a new stake in Lumentum during the 1st quarter worth about $60,348,000. Nuveen Asset Management LLC raised its holdings in Lumentum by 98.9% during the 4th quarter. Nuveen Asset Management LLC now owns 1,228,371 shares of the technology company's stock worth $103,122,000 after buying an additional 610,938 shares during the period. Channing Capital Management LLC acquired a new stake in Lumentum during the 1st quarter worth about $36,715,000. Finally, Nuveen LLC acquired a new stake in Lumentum during the 1st quarter worth about $27,054,000. 94.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on LITE shares. Wall Street Zen upgraded Lumentum from a "hold" rating to a "buy" rating in a report on Sunday, September 7th. UBS Group boosted their price objective on Lumentum from $78.00 to $130.00 and gave the stock a "neutral" rating in a report on Wednesday, August 13th. Bank of America upgraded Lumentum from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $78.00 to $135.00 in a report on Wednesday, August 13th. Susquehanna upped their target price on Lumentum to $125.00 and gave the company a "positive" rating in a report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. upped their target price on Lumentum from $123.00 to $145.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $128.00.

Lumentum Stock Down 1.1%

Shares of LITE traded down $1.86 during trading hours on Friday, reaching $163.02. The company's stock had a trading volume of 2,953,391 shares, compared to its average volume of 3,671,019. The firm has a market cap of $11.40 billion, a price-to-earnings ratio of 708.78 and a beta of 1.42. Lumentum Holdings Inc. has a 1-year low of $45.65 and a 1-year high of $168.01. The company has a quick ratio of 3.18, a current ratio of 4.37 and a debt-to-equity ratio of 2.26. The company has a 50 day moving average of $117.36 and a two-hundred day moving average of $86.58.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The technology company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.79 by $0.09. The business had revenue of $480.70 million during the quarter, compared to analysts' expectations of $465.27 million. Lumentum had a negative return on equity of 3.02% and a net margin of 1.57%.The firm's quarterly revenue was up 55.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 EPS. Lumentum has set its Q1 2026 guidance at 0.950-1.100 EPS. As a group, research analysts predict that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lumentum news, SVP Jae Kim sold 4,507 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $116.88, for a total transaction of $526,778.16. Following the completion of the sale, the senior vice president owned 33,465 shares of the company's stock, valued at $3,911,389.20. This represents a 11.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Julia Suzanne Johnson sold 1,250 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $119.06, for a total value of $148,825.00. Following the sale, the director directly owned 22,037 shares of the company's stock, valued at $2,623,725.22. The trade was a 5.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 81,687 shares of company stock worth $8,398,352 in the last quarter. Corporate insiders own 0.19% of the company's stock.

About Lumentum

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.