Private Advisor Group LLC Has $5.05 Million Stock Position in Lumentum Holdings Inc. $LITE

Private Advisor Group LLC boosted its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 55.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 7,186 shares of the technology company’s stock after acquiring an additional 2,553 shares during the quarter. Private Advisor Group LLC’s holdings in Lumentum were worth $5,050,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Lumentum by 8,579.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock worth $254,350,000 after acquiring an additional 1,545,199 shares during the last quarter. Norges Bank bought a new stake in shares of Lumentum during the 4th quarter valued at approximately $474,495,000. Value Aligned Research Advisors LLC acquired a new position in Lumentum during the 4th quarter worth approximately $432,062,000. Situational Awareness LP boosted its position 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 buying an additional 880,800 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Lumentum by 707.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company’s stock worth $366,555,000 after buying an additional 871,249 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Lumentum Stock Performance

Shares of LITE opened at $698.91 on Wednesday. Lumentum Holdings Inc. has a one year low of $88.93 and a one year high of $1,085.68. The company has a market cap of $54.38 billion, a PE ratio of 129.43 and a beta of 1.48. The stock has a 50-day moving average of $886.59 and a 200-day moving average of $691.84. 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 (NASDAQ:LITE) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The business had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. During the same period in the prior year, the business earned $0.57 EPS. The firm’s revenue for the quarter 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 research analysts predict that Lumentum Holdings Inc. will post 6.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lumentum news, insider Vincent Retort sold 3,183 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $3,036,422.85. Following the transaction, the insider directly owned 89,563 shares in the company, valued at approximately $85,438,623.85. This trade represents a 3.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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, CFO Wajid Ali sold 2,487 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $2,372,473.65. Following the completion of the sale, the chief financial officer directly owned 60,951 shares of the company’s stock, valued at $58,144,206.45. The trade was a 3.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 a total of 41,260 shares of company stock worth $38,859,220 in the last three months. 0.43% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on LITE. Weiss Ratings restated a “hold (c)” rating on shares of Lumentum in a research report on Tuesday, April 21st. UBS Group boosted their target price on shares of Lumentum from $455.00 to $960.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Craig Hallum raised their price target on shares of Lumentum from $900.00 to $1,150.00 in a research note on Wednesday, May 6th. Mizuho set a $1,100.00 price objective on shares of Lumentum in a research note on Wednesday, May 6th. Finally, Citic Securities raised their target price on Lumentum from $620.00 to $1,186.00 in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,021.95.

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.