Wealth High Governance Capital Ltda Has $9.85 Million Holdings in Lumentum Holdings Inc. $LITE

Wealth High Governance Capital Ltda lessened its position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 60.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,016 shares of the technology company's stock after selling 21,060 shares during the period. Lumentum accounts for about 3.0% of Wealth High Governance Capital Ltda's portfolio, making the stock its 15th biggest holding. Wealth High Governance Capital Ltda's holdings in Lumentum were worth $9,850,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Parallel Advisors LLC lifted its holdings in Lumentum by 71.8% during the 1st quarter. Parallel Advisors LLC now owns 560 shares of the technology company's stock worth $394,000 after buying an additional 234 shares during the period. Caerus Investment Advisors LLC acquired a new position in Lumentum in the first quarter valued at approximately $346,000. Concorde Asset Management LLC bought a new position in Lumentum during the first quarter worth $212,000. Glenmede Trust Co. NA boosted its position in shares of Lumentum by 39.2% during the 1st quarter. Glenmede Trust Co. NA now owns 1,515 shares of the technology company's stock worth $1,065,000 after purchasing an additional 427 shares in the last quarter. Finally, Essential Partners LLC grew its stake in Lumentum by 590.3% in the first quarter. Essential Partners LLC now owns 214 shares of the technology company's stock valued at $150,000 after acquiring an additional 183 shares during the period. Institutional investors own 94.05% of the company's stock.

Lumentum Price Performance

LITE opened at $713.94 on Monday. The stock has a market cap of $55.54 billion, a PE ratio of 132.21 and a beta of 1.50. 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 52 week low of $101.61 and a 52 week high of $1,085.68. The business's fifty day simple moving average is $821.07 and its 200 day simple moving average is $739.34.

Lumentum (NASDAQ:LITE - Get Free Report) last released its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping analysts' consensus estimates of $2.27 by $0.10. The company had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.Lumentum's quarterly revenue was up 90.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, research analysts expect that Lumentum Holdings Inc. will post 6.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. B. Riley Financial reissued a "buy" rating on shares of Lumentum in a research report on Friday, May 1st. BNP Paribas Exane increased their price target on shares of Lumentum from $1,040.00 to $1,300.00 in a research report on Wednesday, May 6th. Loop Capital raised their target price on Lumentum from $900.00 to $1,400.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Rosenblatt Securities boosted their price target on shares of Lumentum from $900.00 to $1,300.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley boosted their price objective on Lumentum from $710.00 to $900.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. Fourteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $1,012.67.

Insider Transactions at Lumentum

In other news, Director Isaac Hosojiro Harris sold 4,000 shares of Lumentum stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $860.00, for a total value of $3,440,000.00. Following the transaction, the director owned 8,400 shares in the company, valued at approximately $7,224,000. The trade was a 32.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 business's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $868.07, for a total value of $4,300,418.78. Following the completion of the sale, the director directly owned 21,008 shares of the company's stock, valued at approximately $18,236,414.56. This trade represents a 19.08% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 41,260 shares of company stock valued at $38,859,220. 0.43% of the stock is currently owned by corporate insiders.

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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