Kestra Private Wealth Services LLC Makes New Investment in Lumentum Holdings Inc. $LITE

Kestra Private Wealth Services LLC bought a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the first quarter, Holdings Channel reports. The firm bought 1,189 shares of the technology company’s stock, valued at approximately $835,000.

Several other institutional investors and hedge funds have also modified their holdings of LITE. Nomura Asset Management Co. Ltd. raised its stake in shares of Lumentum by 45.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company’s stock worth $136,306,000 after purchasing an additional 114,714 shares in the last quarter. Andar Capital Management HK Ltd bought a new stake in shares of Lumentum in the 4th quarter valued at approximately $4,325,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Lumentum in the 4th quarter valued at approximately $6,755,000. Maxi Investments CY Ltd acquired a new position in Lumentum in the fourth quarter worth approximately $2,212,000. Finally, Estate Counselors LLC bought a new position in Lumentum during the fourth quarter valued at approximately $4,239,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LITE has been the subject of a number of analyst reports. Jefferies Financial Group reiterated a “buy” rating and issued a $1,200.00 target price on shares of Lumentum in a research note on Wednesday, May 6th. Susquehanna raised their price target on shares of Lumentum from $550.00 to $1,100.00 and gave the company a “positive” rating in a report on Monday, April 20th. B. Riley Financial reaffirmed a “buy” rating on shares of Lumentum in a research note on Friday, May 1st. UBS Group upped their price objective on shares of Lumentum from $455.00 to $960.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, Rosenblatt Securities increased their target price on shares of Lumentum from $900.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Lumentum presently has an average rating of “Moderate Buy” and a consensus target price of $1,021.95.

Insider Transactions at Lumentum

In other Lumentum news, SVP Jae Kim sold 1,422 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $1,356,516.90. Following the sale, the senior vice president owned 32,333 shares of the company’s stock, valued at $30,844,065.35. This trade represents a 4.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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, CFO Wajid Ali sold 2,487 shares of Lumentum stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $2,372,473.65. Following the completion of the transaction, the chief financial officer directly owned 60,951 shares in the company, valued at approximately $58,144,206.45. This represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Over the last three months, insiders have sold 41,260 shares of company stock worth $38,859,220. Insiders own 0.43% of the company’s stock.

Lumentum Stock Down 6.6%

Lumentum stock opened at $801.16 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. Lumentum Holdings Inc. has a fifty-two week low of $88.37 and a fifty-two week high of $1,085.68. The firm has a fifty day moving average price of $897.63 and a two-hundred day moving average price of $680.63. The firm has a market cap of $62.33 billion, a price-to-earnings ratio of 148.36 and a beta of 1.48.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.10. The company had revenue of $808.40 million for 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%.The firm’s revenue was up 90.1% compared to the same quarter last year. During the same period last year, the business posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, analysts forecast that Lumentum Holdings Inc. will post 6.4 earnings per share for the current year.

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.