689 Shares in Lumentum Holdings Inc. $LITE Purchased by PCM Encore LLC

PCM Encore LLC bought a new position in Lumentum Holdings Inc. (NASDAQ:LITE) during the second quarter, Holdings Channel.com reports. The institutional investor bought 689 shares of the technology company’s stock, valued at approximately $591,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Hilton Head Capital Partners LLC bought a new position in shares of Lumentum in the first quarter worth approximately $25,000. Sachetta LLC increased its holdings in shares of Lumentum by 118.8% in the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after buying an additional 19 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Lumentum during the 2nd quarter valued at $40,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Lumentum during the 2nd quarter worth $51,000. Finally, Wiser Advisor Group LLC grew its position in Lumentum by 6,000.0% in the first quarter. Wiser Advisor Group LLC now owns 61 shares of the technology company’s stock worth $43,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $1,040.00 price target on shares of Lumentum in a research report on Wednesday, August 12th. Mizuho raised their price objective on Lumentum from $1,100.00 to $1,140.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Morgan Stanley increased their price target on shares of Lumentum from $900.00 to $1,000.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 12th. Jefferies Financial Group reissued a “buy” rating and set a $1,200.00 price target on shares of Lumentum in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Lumentum from $1,165.00 to $1,280.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,044.67.

Lumentum Price Performance

Shares of Lumentum stock opened at $879.28 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.68 and a quick ratio of 1.40. Lumentum Holdings Inc. has a one year low of $115.21 and a one year high of $1,085.68. The business’s 50 day simple moving average is $810.86 and its two-hundred day simple moving average is $789.68. The stock has a market capitalization of $78.87 billion, a P/E ratio of -10.70 and a beta of 1.50.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, August 11th. The technology company reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.26. Lumentum had a positive return on equity of 26.34% and a negative net margin of 230.15%.The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $987.70 million. During the same quarter in the prior year, the firm posted $0.88 earnings per share. The business’s quarterly revenue was up 109.3% compared to the same quarter last year. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Analysts forecast that Lumentum Holdings Inc. will post 16.95 EPS for the current year.

Insider Activity at Lumentum

In other Lumentum news, Director Isaac Hosojiro Harris sold 1,416 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $1,000.08, for a total transaction of $1,416,113.28. Following the completion of the sale, the director owned 6,984 shares of the company’s stock, valued at $6,984,558.72. This represents a 16.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jae Kim sold 1,366 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $909.43, for a total transaction of $1,242,281.38. Following the completion of the sale, the senior vice president directly owned 45,973 shares in the company, valued at approximately $41,809,225.39. This trade represents a 2.89% decrease in their position. 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. Insiders sold 9,965 shares of company stock worth $8,993,110 in the last three months. 0.43% of the stock is owned by insiders.

About Lumentum

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.