Rockefeller Capital Management L.P. Increases Stock Position in Lumentum Holdings Inc. $LITE

Rockefeller Capital Management L.P. boosted its position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 123.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,623 shares of the technology company's stock after acquiring an additional 2,553 shares during the period. Rockefeller Capital Management L.P.'s holdings in Lumentum were worth $1,704,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of LITE. EverSource Wealth Advisors LLC raised its stake in shares of Lumentum by 363.9% during the third quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company's stock valued at $27,000 after acquiring an additional 131 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Lumentum in the fourth quarter worth about $28,000. Truvestments Capital LLC grew its stake in shares of Lumentum by 300.0% in the fourth quarter. Truvestments Capital LLC now owns 76 shares of the technology company's stock worth $28,000 after purchasing an additional 57 shares during the last quarter. Triumph Capital Management purchased a new position in Lumentum during the 4th quarter valued at about $30,000. Finally, Danske Bank A S purchased a new position in Lumentum during the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Insider Buying and Selling

In related news, Director Ian Small sold 4,954 shares of Lumentum stock in a transaction that occurred 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 sale, the director directly owned 21,008 shares in the company, valued at $18,236,414.56. The trade was a 19.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Vincent Retort sold 3,183 shares of the company'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 completion of the sale, the insider directly owned 89,563 shares in the company, valued at approximately $85,438,623.85. The trade was 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 a total of 41,260 shares of company stock worth $38,859,220 over the last quarter. Company insiders own 0.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Stifel Nicolaus upped their price target on Lumentum from $800.00 to $1,100.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Craig Hallum lifted their price objective on Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. Mizuho set a $1,100.00 target price on Lumentum in a research note on Wednesday, May 6th. Jefferies Financial Group restated a "buy" rating and set a $1,200.00 target price on shares of Lumentum in a report on Wednesday, May 6th. Finally, Morgan Stanley raised their price target on Lumentum from $710.00 to $900.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,021.95.

Lumentum Stock Performance

Shares of LITE opened at $858.06 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. Lumentum Holdings Inc. has a one year low of $88.37 and a one year high of $1,085.68. The company has a 50-day simple moving average of $899.51 and a two-hundred day simple moving average of $677.61. The firm has a market capitalization of $66.76 billion, a PE ratio of 158.90 and a beta of 1.47.

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

Lumentum 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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