Adams Diversified Equity Fund Inc. Buys Shares of 3,600 Lumentum Holdings Inc. $LITE

Adams Diversified Equity Fund Inc. purchased a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 3,600 shares of the technology company’s stock, valued at approximately $2,530,000.

A number of other institutional investors have also modified their holdings of LITE. Nomura Asset Management Co. Ltd. increased its stake in Lumentum by 45.0% during the 4th 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 during the period. Andar Capital Management HK Ltd purchased a new position in Lumentum in the 4th quarter valued at approximately $4,325,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Lumentum in the fourth quarter worth $6,755,000. Maxi Investments CY Ltd acquired a new position in shares of Lumentum in the fourth quarter worth $2,212,000. Finally, Estate Counselors LLC purchased a new stake in shares of Lumentum during the fourth quarter worth $4,239,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lumentum

In other Lumentum news, insider Vincent Retort sold 3,183 shares of Lumentum stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value 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 trade represents a 3.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through 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, 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 sale, the director owned 6,984 shares of the company’s stock, valued at $6,984,558.72. This trade represents a 16.86% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 41,260 shares of company stock valued at $38,859,220. Corporate insiders own 0.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LITE. Loop Capital boosted their target price on Lumentum from $900.00 to $1,400.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Rosenblatt Securities increased their price target on Lumentum from $900.00 to $1,300.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. UBS Group lifted their price objective on Lumentum from $455.00 to $960.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Stifel Nicolaus boosted their price target on shares of Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Finally, BNP Paribas Exane increased their price objective on Lumentum from $1,040.00 to $1,300.00 in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Lumentum has an average rating of “Moderate Buy” and an average target price of $1,021.95.

Lumentum Stock Down 5.0%

LITE stock opened at $818.73 on Friday. The company has a fifty day moving average price of $901.03 and a 200 day moving average price of $668.39. Lumentum Holdings Inc. has a 12 month low of $88.37 and a 12 month high of $1,085.68. The company has a market cap of $63.70 billion, a price-to-earnings ratio of 151.62 and a beta of 1.47. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data 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. The company had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. Lumentum’s revenue for the quarter was up 90.1% on a year-over-year basis. During the same period last year, the firm posted $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Sell-side 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.