Seek First Inc. Buys Shares of 4,677 Lumentum Holdings Inc. $LITE

Key Points

• Seek First Inc. acquired a new stake in Lumentum Holdings Inc., purchasing 4,677 shares valued at approximately $292,000, as disclosed in their latest SEC filing.
• Several institutional investors have significantly increased their holdings in Lumentum, with Canada Pension Plan Investment Board boosting its stake by 80% during the 4th quarter.
• Analysts have raised their price targets for Lumentum, with Bank of America upgrading its rating and increasing the target price to $135.00, marking a positive outlook for the company's stock.

Seek First Inc. purchased a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 4,677 shares of the technology company's stock, valued at approximately $292,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Northwest & Ethical Investments L.P. acquired a new position in Lumentum during the 1st quarter valued at about $436,000. Ethic Inc. boosted its stake in Lumentum by 82.3% during the 1st quarter. Ethic Inc. now owns 9,574 shares of the technology company's stock valued at $609,000 after purchasing an additional 4,323 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new position in Lumentum during the 1st quarter valued at about $3,764,000. Russell Investments Group Ltd. boosted its stake in Lumentum by 58.5% during the 1st quarter. Russell Investments Group Ltd. now owns 79,276 shares of the technology company's stock valued at $4,942,000 after purchasing an additional 29,259 shares during the last quarter. Finally, HighTower Advisors LLC boosted its stake in Lumentum by 51.1% during the 1st quarter. HighTower Advisors LLC now owns 5,242 shares of the technology company's stock valued at $327,000 after purchasing an additional 1,773 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Lumentum Stock Performance

Lumentum stock traded up $1.54 during trading on Thursday, hitting $117.43. The stock had a trading volume of 1,808,551 shares, compared to its average volume of 2,593,739. Lumentum Holdings Inc. has a 1 year low of $45.65 and a 1 year high of $129.98. 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's 50 day moving average is $100.72 and its two-hundred day moving average is $79.58. The stock has a market cap of $8.15 billion, a price-to-earnings ratio of 510.57 and a beta of 1.33.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The technology company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.79 by $0.09. Lumentum had a negative return on equity of 3.02% and a net margin of 1.57%.The business had revenue of $480.70 million for the quarter, compared to the consensus estimate of $465.27 million. During the same quarter in the prior year, the business earned $0.06 earnings per share. Lumentum's revenue for the quarter was up 55.9% on a year-over-year basis. Lumentum has set its Q1 2026 guidance at 0.950-1.100 EPS. As a group, analysts predict that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Insiders Place Their Bets

In related news, insider Vincent Retort sold 22,719 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $110.00, for a total value of $2,499,090.00. Following the transaction, the insider owned 121,747 shares in the company, valued at approximately $13,392,170. This represents a 15.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Julia Suzanne Johnson sold 1,250 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $119.06, for a total value 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. Insiders have sold 80,313 shares of company stock valued at $7,777,835 in the last quarter. 0.19% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on LITE shares. Raymond James Financial lifted their price target on Lumentum from $125.00 to $145.00 and gave the company a "strong-buy" rating in a research note on Wednesday, August 13th. Wolfe Research started coverage on Lumentum in a research note on Tuesday, August 12th. They set an "outperform" rating for the company. Barclays boosted their target price on Lumentum from $75.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Morgan Stanley boosted their target price on Lumentum from $92.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 13th. Finally, Susquehanna boosted their target price on Lumentum to $125.00 and gave the stock a "positive" rating in a research note on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $122.85.

About Lumentum

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.