Oppenheimer & Co. Inc. Invests $515,000 in Lumentum Holdings Inc. $LITE

Oppenheimer & Co. Inc. acquired a new position in Lumentum Holdings Inc. (NASDAQ:LITE) during the third quarter, HoldingsChannel.com reports. The fund acquired 3,163 shares of the technology company’s stock, valued at approximately $515,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LITE. Federated Hermes Inc. boosted its holdings in shares of Lumentum by 7,168.8% during the 3rd quarter. Federated Hermes Inc. now owns 362,352 shares of the technology company’s stock worth $58,958,000 after buying an additional 357,367 shares in the last quarter. FengHe Fund Management Pte. Ltd. bought a new position in Lumentum during the third quarter worth $71,771,000. Pacer Advisors Inc. acquired a new stake in Lumentum in the third quarter worth $1,512,000. Leeward Investments LLC MA increased its stake in Lumentum by 14.8% in the second quarter. Leeward Investments LLC MA now owns 516,431 shares of the technology company’s stock valued at $49,092,000 after purchasing an additional 66,541 shares in the last quarter. Finally, Braun Stacey Associates Inc. bought a new stake in Lumentum in the third quarter valued at $15,125,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Buying and Selling

In other Lumentum news, insider Vincent Retort sold 45,026 shares of the company’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $591.32, for a total value of $26,624,774.32. Following the completion of the transaction, the insider owned 102,455 shares in the company, valued at $60,583,690.60. This represents a 30.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Penny Herscher sold 4,000 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $597.29, for a total value of $2,389,160.00. Following the sale, the director directly owned 2,057 shares of the company’s stock, valued at approximately $1,228,625.53. This represents a 66.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 53,875 shares of company stock valued at $31,610,477 over the last ninety days. 0.43% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on LITE shares. Zacks Research raised shares of Lumentum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 2nd. JPMorgan Chase & Co. increased their price target on Lumentum to $565.00 and gave the stock an “overweight” rating in a report on Wednesday, February 4th. Barclays boosted their price objective on Lumentum to $475.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. Citigroup increased their target price on Lumentum to $560.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Finally, UBS Group lifted their price target on shares of Lumentum from $215.00 to $455.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $447.38.

Lumentum Stock Up 6.7%

LITE opened at $600.42 on Wednesday. Lumentum Holdings Inc. has a fifty-two week low of $45.65 and a fifty-two week high of $616.52. The firm has a market capitalization of $42.87 billion, a P/E ratio of 184.18 and a beta of 1.51. The company’s 50-day moving average is $402.39 and its 200 day moving average is $262.50. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.61 and a quick ratio of 0.45.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Tuesday, February 3rd. The technology company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.26. Lumentum had a net margin of 11.95% and a return on equity of 17.27%. The business had revenue of $665.50 million during the quarter, compared to the consensus estimate of $646.74 million. During the same period in the prior year, the firm posted $0.42 EPS. The firm’s quarterly revenue was up 65.5% compared to the same quarter last year. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. Research analysts expect that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal 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.