Clough Capital Partners L P Takes Position in Lumentum Holdings Inc. $LITE

Clough Capital Partners L P purchased a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) in the 4th quarter, Holdings Channel reports. The fund purchased 2,504 shares of the technology company’s stock, valued at approximately $923,000.

Other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Lumentum by 363.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock valued at $27,000 after buying an additional 131 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Lumentum in the 4th quarter valued at approximately $28,000. Truvestments Capital LLC lifted its holdings in shares of Lumentum by 300.0% in the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after buying an additional 57 shares during the period. Triumph Capital Management acquired a new stake in shares of Lumentum in the 4th quarter valued at approximately $30,000. Finally, Danske Bank A S acquired a new stake in shares of Lumentum in the 3rd quarter valued at approximately $33,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Zacks Research raised Lumentum from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Citigroup lifted their price objective on Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. B. Riley Financial reaffirmed a “buy” rating on shares of Lumentum in a report on Friday, May 1st. TD Cowen lifted their price objective on Lumentum from $875.00 to $995.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Finally, Barclays lifted their price objective on Lumentum from $750.00 to $1,000.00 and gave the stock an “equal weight” rating in a report 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 given a Hold rating to the company. According to data from MarketBeat, Lumentum has an average rating of “Moderate Buy” and an average price target of $1,021.95.

Lumentum Stock Performance

Shares of LITE stock opened at $869.98 on Thursday. The stock has a fifty day moving average price of $903.17 and a 200 day moving average price of $644.68. The stock has a market cap of $67.68 billion, a PE ratio of 161.11 and a beta of 1.47. Lumentum Holdings Inc. has a 1 year low of $86.57 and a 1 year high of $1,085.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share (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 during the quarter, compared to analysts’ expectations of $810.21 million. During the same period in the previous year, the firm posted $0.57 earnings per share. Lumentum’s revenue was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Sell-side analysts forecast that Lumentum Holdings Inc. will post 6.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Yuen Wupen sold 3,210 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $3,062,179.50. Following the completion of the transaction, the insider directly owned 81,488 shares of the company’s stock, valued at $77,735,477.60. The trade was a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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. Also, Director Brian Lillie sold 11,951 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $981.64, for a total value of $11,731,579.64. Following the completion of the transaction, the director directly owned 13,959 shares of the company’s stock, valued at approximately $13,702,712.76. This trade represents a 46.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 41,260 shares of company stock valued at $38,859,220. 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.