Teza Capital Management LLC Acquires Shares of 616 Lumentum Holdings Inc. $LITE

Teza Capital Management LLC bought a new position in Lumentum Holdings Inc. (NASDAQ:LITE) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 616 shares of the technology company’s stock, valued at approximately $529,000. Lumentum comprises 1.0% of Teza Capital Management LLC’s holdings, making the stock its 21st biggest position.

A number of other institutional investors have also recently made changes to their positions in the company. Hilltop National Bank increased its holdings in Lumentum by 26.8% in the 2nd quarter. Hilltop National Bank now owns 71 shares of the technology company’s stock worth $61,000 after acquiring an additional 15 shares during the last quarter. Sachetta LLC raised its stake in Lumentum by 118.8% in the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after acquiring an additional 19 shares during the period. Toth Financial Advisory Corp lifted its holdings in Lumentum by 127.3% during the second quarter. Toth Financial Advisory Corp now owns 50 shares of the technology company’s stock valued at $43,000 after purchasing an additional 28 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Lumentum by 39.5% during the second quarter. Versant Capital Management Inc now owns 106 shares of the technology company’s stock valued at $91,000 after purchasing an additional 30 shares during the last quarter. Finally, Hilton Head Capital Partners LLC bought a new position in Lumentum during the first quarter worth about $25,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insider Activity

In related news, insider Yuen Wupen sold 1,500 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $827.82, for a total value of $1,241,730.00. Following the sale, the insider owned 100,434 shares in the company, valued at approximately $83,141,273.88. This trade represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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, CEO Michael E. Hurlston sold 548 shares of Lumentum stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $958.66, for a total value of $525,345.68. Following the sale, the chief executive officer directly owned 186,951 shares of the company’s stock, valued at $179,222,445.66. This represents a 0.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 63,147 shares of company stock valued at $54,032,636 over the last 90 days. Company insiders own 0.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on LITE shares. Morgan Stanley boosted 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. Craig Hallum raised their price objective on shares of Lumentum from $900.00 to $1,150.00 in a report on Wednesday, May 6th. Bank of America reduced their price objective on shares of Lumentum from $1,100.00 to $1,000.00 and set a “neutral” rating for the company in a research note on Wednesday, August 12th. Mizuho boosted their target price on shares of Lumentum from $1,100.00 to $1,140.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $1,040.00 target price on shares of Lumentum in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,053.83.

Lumentum Trading Up 2.2%

Shares of Lumentum stock opened at $914.76 on Tuesday. The company’s 50-day moving average price is $812.24 and its 200-day moving average price is $809.18. The company has a current ratio of 1.68, a quick ratio of 1.40 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a 12-month low of $125.00 and a 12-month high of $1,085.68. The company has a market cap of $82.05 billion, a price-to-earnings ratio of -11.13 and a beta of 1.50.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Tuesday, August 11th. The technology company reported $3.23 EPS for the quarter, beating the consensus estimate of $2.97 by $0.26. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $987.70 million. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. Lumentum’s revenue for the quarter was up 109.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.88 earnings per share. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. On average, equities analysts expect that Lumentum Holdings Inc. will post 19.76 earnings per share for the current fiscal 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.