Reaves W H & Co. Inc. Purchases New Position in Lumentum Holdings Inc. $LITE

Key Points

• Reaves W H & Co. Inc. disclosed a new fourth-quarter position in Lumentum Holdings, buying 20,500 shares valued at about $7.56 million.
• Institutional ownership is very high, with several major funds increasing their stakes, including Vanguard, Arrowstreet Capital, Geode Capital, and Norges Bank; overall, institutions own 94.05% of the stock.
• Lumentum recently beat earnings expectations, reporting $2.37 EPS versus the $2.27 estimate and posting 90.1% revenue growth year over year, while analysts currently rate the stock a Moderate Buy with a consensus target of $1,012.43.

Reaves W H & Co. Inc. purchased a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 20,500 shares of the technology company's stock, valued at approximately $7,556,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Lumentum by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 7,485,282 shares of the technology company's stock valued at $1,217,930,000 after purchasing an additional 41,975 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in 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 worth $254,350,000 after acquiring an additional 1,545,199 shares during the last quarter. Geode Capital Management LLC grew its holdings in Lumentum by 9.6% during the 4th quarter. Geode Capital Management LLC now owns 1,412,213 shares of the technology company's stock worth $521,563,000 after acquiring an additional 123,265 shares during the last quarter. Norges Bank bought a new stake in Lumentum during the 4th quarter worth approximately $474,495,000. Finally, Alliancebernstein L.P. grew its holdings in Lumentum by 4.4% during the 3rd quarter. Alliancebernstein L.P. now owns 1,085,119 shares of the technology company's stock worth $176,560,000 after acquiring an additional 45,953 shares during the last quarter. 94.05% of the stock is owned by institutional investors.

Lumentum Price Performance

Lumentum stock opened at $854.96 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.14 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 firm's fifty day moving average is $862.40 and its 200 day moving average is $585.91. The company has a market capitalization of $66.52 billion, a PE ratio of 158.33 and a beta of 1.47.

Lumentum (NASDAQ:LITE - Get Free Report) last released its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating 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 company had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. During the same quarter in the previous year, the company earned $0.57 EPS. Lumentum's quarterly revenue 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, sell-side analysts predict that Lumentum Holdings Inc. will post 6.49 EPS for the current fiscal year.

Insider Activity at Lumentum

In other Lumentum news, Director Brian Lillie sold 11,951 shares of the company's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $981.64, for a total transaction of $11,731,579.64. Following the transaction, the director owned 13,959 shares in the company, valued at approximately $13,702,712.76. This represents a 46.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian Small sold 4,954 shares of the company's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the transaction, the director owned 21,008 shares in the company, valued at approximately $18,236,414.56. The trade was a 19.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 35,844 shares of company stock worth $34,003,107 over the last ninety days. 0.43% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LITE. TD Cowen boosted their target price on shares of Lumentum from $875.00 to $995.00 and gave the stock a "hold" rating in a report on Wednesday, May 6th. Stifel Nicolaus boosted their target price on shares of Lumentum from $800.00 to $1,100.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Zacks Research raised shares of Lumentum from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 13th. Loop Capital boosted their target price on shares of Lumentum from $900.00 to $1,400.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Finally, Mizuho set a $1,100.00 price target on shares of Lumentum in a research report on Wednesday, May 6th. One equities research 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 stock. According to data from MarketBeat, Lumentum currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,012.43.

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.

Want to see what other hedge funds are holding LITE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lumentum Holdings Inc. (NASDAQ:LITE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.