Vanguard Group Inc. Purchases 47,811 Shares of Lumentum Holdings Inc. $LITE

Key Points

• Vanguard Group Inc. increased its stake in Lumentum Holdings by purchasing 47,811 shares, now owning approximately 10.74% of the company, valued at $463.2 million.
• Insider transactions showed a significant sale, with Vincent Retort selling 22,719 shares for about $2.5 million, reducing his ownership by 15.73%.
• Wall Street analysts have boosted their ratings for Lumentum, with upgrades from "hold" to "buy" and a new price target of $135.00 set by Bank of America.

Vanguard Group Inc. boosted its holdings in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 0.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,430,185 shares of the technology company's stock after buying an additional 47,811 shares during the quarter. Vanguard Group Inc. owned approximately 10.74% of Lumentum worth $463,198,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its stake in shares of Lumentum by 1.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 14,130 shares of the technology company's stock valued at $881,000 after purchasing an additional 176 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its stake in shares of Lumentum by 6.8% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,465 shares of the technology company's stock worth $216,000 after acquiring an additional 220 shares during the period. California State Teachers Retirement System lifted its stake in shares of Lumentum by 0.4% in the fourth quarter. California State Teachers Retirement System now owns 64,170 shares of the technology company's stock worth $5,387,000 after acquiring an additional 251 shares during the period. Golden State Wealth Management LLC lifted its stake in shares of Lumentum by 103.2% in the first quarter. Golden State Wealth Management LLC now owns 512 shares of the technology company's stock worth $32,000 after acquiring an additional 260 shares during the period. Finally, State of Alaska Department of Revenue lifted its stake in shares of Lumentum by 3.4% in the first quarter. State of Alaska Department of Revenue now owns 8,103 shares of the technology company's stock worth $505,000 after acquiring an additional 270 shares during the period. 94.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on LITE shares. B. Riley lifted their price objective on Lumentum from $73.00 to $83.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 13th. UBS Group lifted their price objective on Lumentum from $78.00 to $130.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 13th. Needham & Company LLC reaffirmed a "buy" rating and issued a $145.00 price objective (up from $135.00) on shares of Lumentum in a research note on Wednesday, August 13th. Northland Securities set a $80.00 price objective on Lumentum in a research note on Wednesday, May 7th. Finally, Morgan Stanley lifted their price objective on Lumentum from $92.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $122.85.

Insider Activity

In related news, insider Vincent Retort sold 22,719 shares of the stock in a transaction 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 completion of the sale, the insider directly owned 121,747 shares of the company's stock, valued at approximately $13,392,170. This represents a 15.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Yuen Wupen sold 241 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $108.34, for a total value of $26,109.94. Following the completion of the sale, the insider directly owned 78,597 shares of the company's stock, valued at $8,515,198.98. The trade was a 0.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 80,313 shares of company stock valued at $7,777,835. Corporate insiders own 0.19% of the company's stock.

Lumentum Trading Down 1.8%

LITE stock traded down $2.07 during mid-day trading on Wednesday, reaching $115.89. The company's stock had a trading volume of 3,361,621 shares, compared to its average volume of 2,930,469. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 503.87 and a beta of 1.33. Lumentum Holdings Inc. has a 12 month low of $45.65 and a 12 month high of $129.98. The business's 50 day moving average price is $100.72 and its 200 day moving average price is $79.58. The company has a current ratio of 4.37, a quick ratio of 3.18 and a debt-to-equity ratio of 2.26.

Lumentum (NASDAQ:LITE - Get Free Report) last released 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. The firm had revenue of $480.70 million during the quarter, compared to the consensus estimate of $465.27 million. Lumentum had a negative return on equity of 3.02% and a net margin of 1.57%.The company's quarterly revenue was up 55.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.06 earnings per share. Lumentum has set its Q1 2026 guidance at 0.950-1.100 EPS. On average, equities research analysts predict that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

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.