709 Shares in Lumentum Holdings Inc. $LITE Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC purchased a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the 1st quarter, Holdings Channel.com reports. The fund purchased 709 shares of the technology company’s stock, valued at approximately $498,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC bought a new position in shares of Lumentum in the 1st quarter valued at about $25,000. Wiser Advisor Group LLC raised its holdings in shares of Lumentum by 6,000.0% in the 1st quarter. Wiser Advisor Group LLC now owns 61 shares of the technology company’s stock valued at $43,000 after purchasing an additional 60 shares during the period. SJS Investment Consulting Inc. raised its holdings in shares of Lumentum by 687.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 63 shares of the technology company’s stock valued at $44,000 after purchasing an additional 55 shares during the period. Truvestments Capital LLC raised its holdings 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 purchasing an additional 57 shares during the period. Finally, V Square Quantitative Management LLC acquired a new stake in Lumentum in the 4th quarter valued at about $28,000. 94.05% of the stock is owned by institutional investors.

Lumentum Stock Performance

NASDAQ LITE opened at $802.01 on Friday. The stock has a market cap of $62.40 billion, a PE ratio of 148.52 and a beta of 1.48. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14. The firm has a 50-day moving average of $882.31 and a 200-day moving average of $698.09. Lumentum Holdings Inc. has a 52-week low of $90.98 and a 52-week high of $1,085.68.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.10. The business had revenue of $808.40 million for the quarter, compared to analyst estimates of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. Lumentum’s quarterly revenue was up 90.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, sell-side analysts anticipate that Lumentum Holdings Inc. will post 6.4 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on LITE shares. Craig Hallum lifted their price target on Lumentum from $900.00 to $1,150.00 in a report on Wednesday, May 6th. Mizuho set a $1,100.00 price objective on Lumentum in a research note on Wednesday, May 6th. Raymond James Financial reaffirmed an “outperform” rating and issued a $1,014.00 price objective on shares of Lumentum in a research report on Wednesday, May 6th. TD Cowen lifted their target price on Lumentum from $875.00 to $995.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Finally, Susquehanna boosted their target price on Lumentum from $550.00 to $1,100.00 and gave the stock a “positive” rating in a report on Monday, April 20th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,021.95.

Insider Activity at Lumentum

In other news, SVP Jae Kim sold 1,422 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $1,356,516.90. Following the transaction, the senior vice president owned 32,333 shares in the company, valued at approximately $30,844,065.35. This trade represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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, Director Isaac Hosojiro Harris sold 1,416 shares of Lumentum 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 sale, the director directly owned 6,984 shares of the company’s stock, valued at approximately $6,984,558.72. The trade was a 16.86% 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. Over the last quarter, insiders have sold 41,260 shares of company stock valued at $38,859,220. Insiders own 0.43% of the company’s stock.

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.