WT Asset Management Ltd Purchases Shares of 576,519 Lumentum Holdings Inc. $LITE

WT Asset Management Ltd purchased a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 576,519 shares of the technology company’s stock, valued at approximately $494,688,000. Lumentum makes up 9.8% of WT Asset Management Ltd’s holdings, making the stock its 5th largest holding.

Several other hedge funds also recently modified their holdings of LITE. Hilton Head Capital Partners LLC bought a new position in Lumentum during the first quarter worth $25,000. Sachetta LLC boosted its position in shares of Lumentum by 118.8% during the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after purchasing an additional 19 shares in the last quarter. Truvestments Capital LLC grew its stake in shares of Lumentum by 300.0% in the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after buying an additional 57 shares during the period. Triumph Capital Management bought a new stake in Lumentum in the 4th quarter valued at about $30,000. Finally, Danske Bank A S acquired a new position in Lumentum during the 3rd quarter worth approximately $33,000. Institutional investors own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on LITE shares. BNP Paribas Exane increased their target price on Lumentum from $1,040.00 to $1,300.00 in a report on Wednesday, May 6th. TD Cowen upped their price objective on shares of Lumentum from $800.00 to $820.00 and gave the stock a “hold” rating in a report on Wednesday, August 12th. UBS Group set a $820.00 price objective on shares of Lumentum in a report on Wednesday, August 12th. Loop Capital upped their target price on shares of Lumentum from $900.00 to $1,400.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Finally, Citigroup reaffirmed a “buy” rating on shares of Lumentum in a research report on Wednesday, August 12th. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Lumentum presently has a consensus rating of “Moderate Buy” and an average price target of $1,044.67.

Lumentum Price Performance

LITE opened at $968.90 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.68 and a quick ratio of 1.40. The company has a market capitalization of $75.38 billion, a price-to-earnings ratio of -11.79 and a beta of 1.50. The firm’s fifty day moving average price is $810.55 and its two-hundred day moving average price is $779.66. Lumentum Holdings Inc. has a 1 year low of $111.20 and a 1 year high of $1,085.68.

Lumentum (NASDAQ:LITE) last announced its earnings results on Tuesday, August 11th. The technology company reported $3.23 EPS for the quarter, beating the consensus estimate of $2.97 by $0.26. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $987.70 million. During the same quarter in the prior year, the company posted $0.88 earnings per share. The firm’s revenue for the quarter was up 109.3% on a year-over-year basis. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. As a group, analysts anticipate that Lumentum Holdings Inc. will post 16.97 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Isaac Hosojiro Harris sold 1,416 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total value of $1,416,113.28. Following the completion of the transaction, the director directly owned 6,984 shares of the company’s stock, valued at $6,984,558.72. This represents a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian Small sold 4,954 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $868.07, for a total value of $4,300,418.78. Following the sale, the director directly owned 21,008 shares of the company’s stock, valued at $18,236,414.56. The trade was a 19.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 10,370 shares of company stock valued at $9,156,532. Company insiders own 0.43% of the company’s stock.

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.