HB Wealth Management LLC Has $1.52 Million Stock Position in Lumentum Holdings Inc. $LITE

HB Wealth Management LLC raised its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 78.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,163 shares of the technology company’s stock after acquiring an additional 949 shares during the quarter. HB Wealth Management LLC’s holdings in Lumentum were worth $1,520,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Lumentum by 45.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company’s stock worth $136,306,000 after buying an additional 114,714 shares in the last quarter. Andar Capital Management HK Ltd acquired a new position in shares of Lumentum in the 4th quarter valued at approximately $4,325,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Lumentum during the fourth quarter worth $6,755,000. Maxi Investments CY Ltd bought a new stake in shares of Lumentum during the 4th quarter worth $2,212,000. Finally, Estate Counselors LLC bought a new position in shares of Lumentum in the fourth quarter worth about $4,239,000. Institutional investors own 94.05% of the company’s stock.

Insider Activity

In related news, Director Brian Lillie sold 11,951 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $981.64, for a total transaction of $11,731,579.64. Following the transaction, the director owned 13,959 shares in the company, valued at $13,702,712.76. The trade was a 46.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vincent Retort sold 3,183 shares of the 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 represents a 3.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last three months, insiders sold 41,260 shares of company stock worth $38,859,220. Company insiders own 0.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on LITE shares. Morgan Stanley increased their price target on Lumentum from $710.00 to $900.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Needham & Company LLC reiterated a “buy” rating and issued a $1,040.00 price target on shares of Lumentum in a research report on Tuesday, June 9th. Susquehanna raised their price objective on Lumentum from $550.00 to $1,100.00 and gave the stock a “positive” rating in a research report on Monday, April 20th. Barclays lifted their price objective on Lumentum from $750.00 to $1,000.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Lumentum in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,021.95.

Lumentum Stock Performance

LITE stock opened at $698.91 on Wednesday. The stock has a 50-day moving average price of $886.59 and a 200-day moving average price of $691.84. Lumentum Holdings Inc. has a 1-year low of $88.93 and a 1-year high of $1,085.68. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. The firm has a market cap of $54.38 billion, a PE ratio of 129.43 and a beta of 1.48.

Lumentum (NASDAQ:LITE) last announced its earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.27 by $0.10. The company had revenue of $808.40 million for 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 firm’s revenue for the quarter was up 90.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, equities research analysts expect that Lumentum Holdings Inc. will post 6.4 earnings per share for the current 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.