Scientech Research LLC Raises Stake in Lumentum Holdings Inc. $LITE

Scientech Research LLC boosted its position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 37.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,266 shares of the technology company's stock after acquiring an additional 3,613 shares during the quarter. Scientech Research LLC's holdings in Lumentum were worth $827,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Petrus Trust Company LTA acquired a new stake in Lumentum in the first quarter valued at approximately $428,000. PointState Capital LP acquired a new stake in Lumentum in the first quarter valued at approximately $213,503,000. NewEdge Advisors LLC boosted its position in Lumentum by 109.9% in the first quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company's stock valued at $747,000 after buying an additional 6,275 shares in the last quarter. Alliancebernstein L.P. boosted its position in Lumentum by 1.1% in the first quarter. Alliancebernstein L.P. now owns 1,731,041 shares of the technology company's stock valued at $107,913,000 after buying an additional 19,085 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in Lumentum by 36.8% in the first quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company's stock valued at $59,000 after buying an additional 254 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Raymond James Financial lifted their price target on shares of Lumentum from $125.00 to $145.00 and gave the stock a "strong-buy" rating in a report on Wednesday, August 13th. Rosenblatt Securities reissued a "buy" rating and set a $150.00 target price on shares of Lumentum in a research note on Thursday, August 14th. Wolfe Research initiated coverage on shares of Lumentum in a research note on Tuesday, August 12th. They set an "outperform" rating for the company. JPMorgan Chase & Co. lifted their target price on shares of Lumentum from $123.00 to $145.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Finally, Stifel Nicolaus lifted their target price on shares of Lumentum from $100.00 to $132.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $128.00.

Insiders Place Their Bets

In other Lumentum news, insider Yuen Wupen sold 3,281 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $124.86, for a total value of $409,665.66. Following the sale, the insider directly owned 101,273 shares in the company, valued at $12,644,946.78. This represents a 3.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Julia Suzanne Johnson sold 1,250 shares of Lumentum stock in a transaction on Monday, August 18th. The stock was sold at an average price of $119.06, for a total transaction of $148,825.00. Following the completion of the transaction, the director owned 22,037 shares in the company, valued at approximately $2,623,725.22. The trade was a 5.37% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,687 shares of company stock worth $8,398,352. Company insiders own 0.19% of the company's stock.

Lumentum Stock Down 1.1%

Shares of NASDAQ:LITE traded down $1.86 during midday trading on Friday, hitting $163.02. 2,953,391 shares of the company's stock were exchanged, compared to its average volume of 3,671,019. The company has a debt-to-equity ratio of 2.26, a current ratio of 4.37 and a quick ratio of 3.18. The stock has a 50 day moving average price of $117.36 and a 200-day moving average price of $86.48. The company has a market cap of $11.40 billion, a PE ratio of 708.78 and a beta of 1.42. Lumentum Holdings Inc. has a 12 month low of $45.65 and a 12 month high of $168.01.

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

Lumentum Company 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.