PNC Financial Services Group Inc. Has $325,000 Stock Position in Lumentum Holdings Inc. $LITE

Key Points

• PNC Financial Services Group Inc. increased its stake in Lumentum Holdings Inc. by 75%, acquiring an additional 2,237 shares and bringing its total holdings to 5,220 shares valued at $325,000.
• Lumentum reported earnings per share of $0.88 for the last quarter, exceeding the consensus estimate of $0.79, with a year-over-year revenue increase of 55.9%.
• The stock currently holds a consensus rating of "Moderate Buy", with analysts setting an average price target of $124.00, reflecting positive sentiment among market experts.

PNC Financial Services Group Inc. boosted its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 75.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,220 shares of the technology company's stock after acquiring an additional 2,237 shares during the period. PNC Financial Services Group Inc.'s holdings in Lumentum were worth $325,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CoreCap Advisors LLC grew its holdings in shares of Lumentum by 2,235.3% during the fourth quarter. CoreCap Advisors LLC now owns 397 shares of the technology company's stock worth $33,000 after buying an additional 380 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in Lumentum during the first quarter worth approximately $25,000. Rakuten Securities Inc. grew its stake in Lumentum by 164.4% during the first quarter. Rakuten Securities Inc. now owns 476 shares of the technology company's stock worth $30,000 after buying an additional 296 shares during the period. Golden State Wealth Management LLC lifted its position in shares of Lumentum by 103.2% during the first quarter. Golden State Wealth Management LLC now owns 512 shares of the technology company's stock worth $32,000 after purchasing an additional 260 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Lumentum by 132.9% during the first quarter. UMB Bank n.a. now owns 785 shares of the technology company's stock worth $49,000 after purchasing an additional 448 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Insider Activity at Lumentum

In other Lumentum news, CFO Wajid Ali sold 2,222 shares of Lumentum stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $83.58, for a total transaction of $185,714.76. Following the sale, the chief financial officer owned 47,460 shares in the company, valued at $3,966,706.80. The trade was a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Vincent Retort sold 22,719 shares of Lumentum stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $110.00, for a total transaction of $2,499,090.00. Following the sale, the insider owned 121,747 shares in the company, valued at $13,392,170. This represents a 15.73% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,711 shares of company stock worth $7,238,980. 0.19% of the stock is owned by insiders.

Lumentum Stock Performance

Shares of NASDAQ:LITE traded down $2.0040 during trading on Tuesday, reaching $116.9760. The stock had a trading volume of 1,962,002 shares, compared to its average volume of 2,585,817. Lumentum Holdings Inc. has a 52 week low of $45.65 and a 52 week high of $129.98. The firm has a market capitalization of $8.12 billion, a price-to-earnings ratio of 508.11 and a beta of 1.33. 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 stock has a fifty day simple moving average of $99.33 and a two-hundred day simple moving average of $79.05.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its earnings results on Tuesday, August 12th. The technology company reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $465.27 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. Lumentum's 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 anticipate that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on LITE. Wall Street Zen raised shares of Lumentum from a "hold" rating to a "buy" rating in a report on Saturday. Needham & Company LLC restated a "buy" rating and set a $145.00 price target (up previously from $135.00) on shares of Lumentum in a research report on Wednesday, August 13th. UBS Group increased their target price on shares of Lumentum from $78.00 to $130.00 and gave the company a "neutral" rating in a research report on Wednesday, August 13th. B. Riley increased their target price on shares of Lumentum from $73.00 to $83.00 and gave the company a "neutral" rating in a research report on Wednesday, August 13th. Finally, Bank of America upgraded shares of Lumentum from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $78.00 to $135.00 in a research report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $122.85.

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.