Whittier Trust Co. of Nevada Inc. Increases Stock Position in Lumentum Holdings Inc. $LITE

Key Points

• Whittier Trust Co. of Nevada dramatically increased its Lumentum stake in Q1, buying 30,234 additional shares and ending with 30,243 shares worth about $23.4 million.
• Wall Street sentiment is broadly positive, with multiple analysts raising price targets; MarketBeat says Lumentum has a Moderate Buy consensus and an average target price of $1,021.95.
• Lumentum posted strong quarterly results, reporting EPS of $2.37 versus $2.27 expected and revenue up 90.1% year over year, while also guiding Q4 2026 EPS to 2.85–3.05.

Whittier Trust Co. of Nevada Inc. raised its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 335,933.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,243 shares of the technology company's stock after purchasing an additional 30,234 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in Lumentum were worth $23,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of LITE. Arrowstreet Capital Limited Partnership raised its position in shares of Lumentum by 8,579.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company's stock valued at $254,350,000 after buying an additional 1,545,199 shares in the last quarter. Norges Bank purchased a new position in Lumentum in the fourth quarter worth $474,495,000. Value Aligned Research Advisors LLC purchased a new position in Lumentum in the fourth quarter worth $432,062,000. Situational Awareness LP increased its stake in Lumentum by 210.9% in the fourth quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company's stock valued at $478,577,000 after acquiring an additional 880,800 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Lumentum by 707.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company's stock valued at $366,555,000 after acquiring an additional 871,249 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LITE shares. Jefferies Financial Group reaffirmed a "buy" rating and set a $1,200.00 price target on shares of Lumentum in a research note on Wednesday, May 6th. Citigroup increased their price objective on Lumentum from $800.00 to $1,100.00 and gave the company a "buy" rating in a research report on Tuesday, April 21st. Susquehanna raised their price objective on Lumentum from $550.00 to $1,100.00 and gave the company a "positive" rating in a report on Monday, April 20th. Needham & Company LLC restated a "buy" rating and issued a $1,040.00 target price on shares of Lumentum in a research report on Tuesday, June 9th. Finally, Morgan Stanley upped their target price 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 equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Lumentum currently has an average rating of "Moderate Buy" and an average target price of $1,021.95.

Lumentum Stock Performance

NASDAQ LITE opened at $728.32 on Monday. The company has a 50-day simple moving average of $892.56 and a two-hundred day simple moving average of $686.25. Lumentum Holdings Inc. has a 12-month low of $88.93 and a 12-month high of $1,085.68. The firm has a market cap of $56.66 billion, a price-to-earnings ratio of 134.87 and a beta of 1.48. 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 (NASDAQ:LITE - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping 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 firm had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. During the same quarter in the previous year, the business earned $0.57 earnings per share. The company's quarterly 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, equities analysts forecast that Lumentum Holdings Inc. will post 6.4 EPS for the current year.

Insider Buying and Selling at Lumentum

In other Lumentum news, Director Isaac Hosojiro Harris sold 4,000 shares of Lumentum stock in a transaction that occurred on 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 directly owned 8,400 shares of the company's stock, valued at $7,224,000. The trade was a 32.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vincent Retort sold 3,183 shares of the business's stock in a transaction that occurred on Monday, May 18th. The shares were 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 owned 89,563 shares of the company's stock, valued at $85,438,623.85. The trade was a 3.43% decrease in their position. The SEC filing for this sale provides additional information. 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 sold 41,260 shares of company stock worth $38,859,220 over the last quarter. Company insiders own 0.43% of the company's stock.

Lumentum Company 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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