Pinkerton Wealth LLC Purchases New Position in Lumentum Holdings Inc. $LITE

Key Points

• Pinkerton Wealth LLC opened a new position in Lumentum during the fourth quarter, buying 4,213 shares valued at about $1.55 million.
• Lumentum has seen broad institutional interest, with several hedge funds adding shares and 94.05% of the stock now owned by institutional investors.
• The company’s latest earnings beat EPS estimates and revenue jumped 90.1% year over year, while analysts remain upbeat with a Moderate Buy consensus and an average target price of $1,012.43.

Pinkerton Wealth LLC acquired a new position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,213 shares of the technology company's stock, valued at approximately $1,553,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IFP Advisors Inc raised its position in Lumentum by 9.6% in the 4th quarter. IFP Advisors Inc now owns 822 shares of the technology company's stock worth $303,000 after purchasing an additional 72 shares during the period. Intrust Bank NA purchased a new position in Lumentum during the fourth quarter valued at approximately $219,000. Banque Cantonale Vaudoise purchased a new position in Lumentum during the fourth quarter valued at approximately $119,000. Cullen Frost Bankers Inc. increased its holdings in Lumentum by 66.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 500 shares of the technology company's stock valued at $184,000 after buying an additional 200 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in Lumentum by 0.9% during the fourth quarter. Handelsbanken Fonder AB now owns 21,847 shares of the technology company's stock valued at $8,053,000 after buying an additional 200 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

Lumentum Price Performance

Shares of LITE opened at $868.07 on Thursday. Lumentum Holdings Inc. has a twelve month low of $71.04 and a twelve month high of $1,085.68. The company has a 50 day moving average of $825.82 and a two-hundred day moving average of $551.93. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The company has a market cap of $67.54 billion, a price-to-earnings ratio of 160.75 and a beta of 1.53.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the firm posted $0.57 earnings per share. The business's revenue for the quarter was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, analysts predict that Lumentum Holdings Inc. will post 6.49 earnings per share for the current fiscal year.

Key Lumentum News

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Lumentum was added to the Nasdaq-100, a move that can attract buying from index funds and ETFs and broaden institutional ownership. Lumentum (LITE) Joins Nasdaq-100 Index
• Positive Sentiment: Zacks highlighted Lumentum as one of its top momentum stocks and a Zacks Rank #1 (Strong Buy), reinforcing the bullish momentum narrative. Are You Looking for a Top Momentum Pick? Why Lumentum (LITE) is a Great Choice
• Positive Sentiment: Analyst coverage remains constructive, with multiple firms lifting price targets and several reports pointing to demand tied to AI infrastructure and data center optics. 3 Stocks Backed By Broker Rating Upgrades Worth Betting On
• Positive Sentiment: Recent bullish commentary says Lumentum’s photonic products are benefiting from strong AI and data center demand, with capacity constraints supporting revenue and margin expansion. Lumentum: Priced For Growth, But Not For What Comes Next - Double Growth Cycles
• Positive Sentiment: The company’s last earnings report beat EPS expectations and included strong year-over-year revenue growth, supporting the growth story behind the stock. Lumentum stock details and earnings summary

Insider Buying and Selling at Lumentum

In other news, Director Pamela Fletcher sold 1,578 shares of Lumentum stock in a transaction on Friday, May 15th. The shares were sold at an average price of $940.82, for a total transaction of $1,484,613.96. Following the completion of the sale, the director directly owned 7,406 shares in the company, valued at approximately $6,967,712.92. The trade was a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Wajid Ali sold 2,487 shares of Lumentum stock in a transaction on Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $2,372,473.65. Following the sale, the chief financial officer owned 60,951 shares of the company's stock, valued at $58,144,206.45. The trade was a 3.92% 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. In the last ninety days, insiders sold 36,192 shares of company stock valued at $33,367,059. Company insiders own 0.43% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on LITE shares. B. Riley Financial reissued a "buy" rating on shares of Lumentum in a report on Friday, May 1st. Morgan Stanley raised their target price on shares of Lumentum from $710.00 to $900.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. Citigroup raised their target price on shares of Lumentum from $800.00 to $1,100.00 and gave the company a "buy" rating in a research note on Tuesday, April 21st. Barclays raised their target price on shares of Lumentum from $750.00 to $1,000.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. Finally, Mizuho set a $1,100.00 target price on shares of Lumentum in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Lumentum presently has an average rating of "Moderate Buy" and an average target price of $1,012.43.

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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