Archer Investment Corp Purchases 929 Shares of Lumentum Holdings Inc. $LITE

Archer Investment Corp raised its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 92,900.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 930 shares of the technology company’s stock after purchasing an additional 929 shares during the quarter. Archer Investment Corp’s holdings in Lumentum were worth $654,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Sachetta LLC raised its position in Lumentum by 118.8% during the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after purchasing an additional 19 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new position in shares of Lumentum in the 1st quarter worth about $25,000. Abel Hall LLC lifted its stake in shares of Lumentum by 5.5% in the first quarter. Abel Hall LLC now owns 693 shares of the technology company’s stock worth $487,000 after buying an additional 36 shares in the last quarter. 180 Wealth Advisors LLC grew its holdings in shares of Lumentum by 2.9% during the first quarter. 180 Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock valued at $1,092,000 after buying an additional 44 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of Lumentum by 16.0% in the 4th quarter. Parallel Advisors LLC now owns 326 shares of the technology company’s stock worth $120,000 after purchasing an additional 45 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Insider Transactions at Lumentum

In other news, CFO Wajid Ali sold 2,487 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $2,372,473.65. Following the completion of the sale, the chief financial officer directly owned 60,951 shares of the company’s stock, valued at $58,144,206.45. This represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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, SVP Jae Kim sold 1,422 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $1,356,516.90. Following the sale, the senior vice president owned 32,333 shares in the company, valued at $30,844,065.35. The trade was a 4.21% 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. Over the last quarter, insiders sold 41,260 shares of company stock valued at $38,859,220. Company insiders own 0.43% of the company’s stock.

Analyst Ratings Changes

LITE has been the subject of a number of research reports. UBS Group boosted their target price on shares of Lumentum from $455.00 to $960.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Craig Hallum upped their price objective on Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. JPMorgan Chase & Co. increased their target price on Lumentum from $950.00 to $1,130.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Stifel Nicolaus raised their target price on Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Finally, Susquehanna boosted their price target on Lumentum from $550.00 to $1,100.00 and gave the company a “positive” rating in a research note on Monday, April 20th. Fourteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,012.67.

Lumentum Stock Down 4.2%

LITE stock opened at $768.15 on Tuesday. The business’s 50-day moving average price is $879.63 and its 200-day moving average price is $702.94. The stock has a market cap of $59.76 billion, a P/E ratio of 142.25 and a beta of 1.48. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a twelve month low of $90.98 and a twelve month high of $1,085.68.

Lumentum (NASDAQ:LITE) last released its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.10. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The company had revenue of $808.40 million during the quarter, compared to analyst estimates of $810.21 million. During the same period in the prior year, the firm posted $0.57 EPS. The firm’s quarterly revenue was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, equities research analysts forecast that Lumentum Holdings Inc. will post 6.4 EPS for the current year.

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.