Lumentum Holdings Inc. $LITE is Beacon Harbor Wealth Advisors Inc.’s 4th Largest Position

Beacon Harbor Wealth Advisors Inc. lowered its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 45.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 21,744 shares of the technology company’s stock after selling 17,763 shares during the quarter. Lumentum accounts for 3.2% of Beacon Harbor Wealth Advisors Inc.’s holdings, making the stock its 4th biggest holding. Beacon Harbor Wealth Advisors Inc.’s holdings in Lumentum were worth $15,281,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of LITE. Hilton Head Capital Partners LLC bought a new stake in Lumentum in the first quarter worth $25,000. Wiser Advisor Group LLC increased its position in Lumentum by 6,000.0% during the first quarter. Wiser Advisor Group LLC now owns 61 shares of the technology company’s stock valued at $43,000 after acquiring an additional 60 shares during the last quarter. SJS Investment Consulting Inc. increased its position in Lumentum by 687.5% during the first quarter. SJS Investment Consulting Inc. now owns 63 shares of the technology company’s stock valued at $44,000 after acquiring an additional 55 shares during the last quarter. Truvestments Capital LLC raised its stake in shares of Lumentum by 300.0% in the fourth quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after acquiring an additional 57 shares during the period. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Lumentum in the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insider Activity at Lumentum

In other news, insider Vincent Retort sold 3,183 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were 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 of the company’s stock, valued at approximately $85,438,623.85. This trade represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 shares were sold at an average price of $1,000.08, for a total transaction of $1,416,113.28. Following the sale, the director directly owned 6,984 shares of the company’s stock, valued at $6,984,558.72. This represents a 16.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 41,260 shares of company stock worth $38,859,220 over the last ninety days. 0.43% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

LITE has been the subject of several analyst reports. Barclays raised their target price on shares of Lumentum from $750.00 to $1,000.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Susquehanna upped their price target on shares of Lumentum from $550.00 to $1,100.00 and gave the company a “positive” rating in a report on Monday, April 20th. Citic Securities increased their price objective on shares of Lumentum from $620.00 to $1,186.00 in a research report on Monday, May 11th. Loop Capital raised their price objective on shares of Lumentum from $900.00 to $1,400.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Finally, Craig Hallum boosted their target price on Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. Fourteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.95.

Lumentum Stock Up 2.1%

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

Lumentum (NASDAQ:LITE) last issued its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.10. The firm had revenue of $808.40 million during 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%. The business’s revenue was up 90.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Analysts anticipate that Lumentum Holdings Inc. will post 6.4 EPS for the current 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.