Cornerstone Wealth Management LLC Invests $223,000 in Lumentum Holdings Inc. $LITE

Cornerstone Wealth Management LLC bought a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 606 shares of the technology company’s stock, valued at approximately $223,000.

Other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in shares of Lumentum by 363.9% during 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 purchased a new stake in shares of Lumentum during the 4th quarter valued at about $28,000. Danske Bank A S purchased a new stake in shares of Lumentum during the 3rd quarter valued at about $33,000. Chesapeake Asset Management LLC purchased a new stake in shares of Lumentum during the 4th quarter valued at about $37,000. Finally, BOCHK Asset Management Ltd purchased a new stake in shares of Lumentum during the 4th quarter valued at about $37,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Pamela Fletcher sold 1,578 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $940.82, for a total transaction of $1,484,613.96. Following the completion of the transaction, the director owned 7,406 shares in the company, valued at $6,967,712.92. The trade was a 17.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jae Kim sold 1,933 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $950.99, for a total value of $1,838,263.67. Following the transaction, the senior vice president owned 35,114 shares of the company’s stock, valued at $33,393,062.86. This represents a 5.22% 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. In the last quarter, insiders have sold 25,890 shares of company stock worth $23,539,466. 0.43% of the stock is currently owned by insiders.

Analysts Set New Price Targets

LITE has been the topic of several analyst reports. Northland Securities set a $1,000.00 target price on Lumentum in a report on Monday, April 20th. TD Cowen raised their target price on Lumentum from $875.00 to $995.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. UBS Group raised their target price on Lumentum from $455.00 to $960.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Citic Securities raised their target price on Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. Finally, BNP Paribas Exane raised their price objective on Lumentum from $1,040.00 to $1,300.00 in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Lumentum currently has an average rating of “Moderate Buy” and an average target price of $1,012.43.

Lumentum Price Performance

Shares of LITE opened at $884.98 on Tuesday. The firm has a market cap of $68.85 billion, a price-to-earnings ratio of 163.89 and a beta of 1.53. The stock has a 50 day moving average of $814.64 and a 200-day moving average of $542.47. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a 52 week low of $71.04 and a 52 week high of $1,085.68.

Lumentum (NASDAQ:LITE) last issued its earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.27 by $0.10. The company had revenue of $808.40 million during the quarter, compared to analyst estimates of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The business’s revenue was up 90.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, analysts forecast that Lumentum Holdings Inc. will post 6.49 EPS for the current year.

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.