Geneos Wealth Management Inc. Grows Position in Lumentum Holdings Inc. $LITE

Geneos Wealth Management Inc. raised its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 5,584.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 739 shares of the technology company’s stock after acquiring an additional 726 shares during the period. Geneos Wealth Management Inc.’s holdings in Lumentum were worth $519,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of LITE. Advisors Asset Management Inc. boosted its holdings in Lumentum by 36.8% during the first quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock worth $59,000 after purchasing an additional 254 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Lumentum by 109.9% in the first quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company’s stock valued at $747,000 after acquiring an additional 6,275 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Lumentum by 9.1% in the first quarter. Empowered Funds LLC now owns 8,139 shares of the technology company’s stock valued at $507,000 after acquiring an additional 680 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Lumentum during the second quarter valued at approximately $298,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Lumentum during the second quarter worth $1,712,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lumentum

In other news, Director Isaac Hosojiro Harris sold 1,416 shares of Lumentum stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $1,000.08, for a total value of $1,416,113.28. Following the completion of the transaction, the director owned 6,984 shares in the company, valued at $6,984,558.72. This trade represents a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, SVP Jae Kim sold 1,422 shares of the business’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 $1,356,516.90. Following the completion of the sale, the senior vice president directly owned 32,333 shares in the company, valued at approximately $30,844,065.35. This trade represents a 4.21% decrease in their position. 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 90 days, insiders sold 41,260 shares of company stock valued at $38,859,220. Insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

LITE has been the topic of several research analyst reports. B. Riley Financial reissued a “buy” rating on shares of Lumentum in a research report on Friday, May 1st. Citic Securities raised their target price on Lumentum from $620.00 to $1,186.00 in a research report on Monday, May 11th. Northland Securities lifted their target price on Lumentum from $1,000.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. UBS Group boosted their price target on shares of Lumentum from $455.00 to $960.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, 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. Fourteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,012.67.

Lumentum Stock Performance

Shares of LITE opened at $765.55 on Tuesday. Lumentum Holdings Inc. has a 1 year low of $97.55 and a 1 year high of $1,085.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. The stock’s fifty day moving average price is $859.31 and its two-hundred day moving average price is $715.91. The firm has a market cap of $59.56 billion, a PE ratio of 141.77 and a beta of 1.48.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.10. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The company had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. During the same quarter in the prior year, the company earned $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 6.42 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.