Florida Financial Advisors LLC Takes Position in Lumentum Holdings Inc. $LITE

Florida Financial Advisors LLC bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) during the fourth quarter, Holdings Channel reports. The institutional investor bought 5,442 shares of the technology company’s stock, valued at approximately $2,003,000.

A number of other large investors also recently made changes to their positions in LITE. EverSource Wealth Advisors LLC grew its stake in shares of Lumentum by 363.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock valued at $27,000 after buying an additional 131 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Lumentum in the 4th quarter valued at approximately $28,000. Danske Bank A S bought a new stake in shares of Lumentum in the 3rd quarter valued at approximately $33,000. Harbour Investments Inc. grew its stake in shares of Lumentum by 675.0% in the 4th quarter. Harbour Investments Inc. now owns 93 shares of the technology company’s stock valued at $34,000 after buying an additional 81 shares in the last quarter. Finally, Chesapeake Asset Management LLC bought a new stake in shares of Lumentum in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Activity at Lumentum

In other news, insider Vincent Retort sold 3,183 shares of the company’s 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 $3,036,422.85. Following the completion of the transaction, the insider directly owned 89,563 shares in the company, valued at $85,438,623.85. The trade was a 3.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Brian Lillie sold 11,951 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $981.64, for a total value of $11,731,579.64. Following the transaction, the director owned 13,959 shares of the company’s stock, valued at approximately $13,702,712.76. This trade represents a 46.13% 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 sold 35,844 shares of company stock valued at $34,003,107. 0.43% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on LITE. Morgan Stanley boosted their price target on Lumentum from $710.00 to $900.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Citigroup boosted their price target on Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Bank of America boosted their price target on Lumentum to $520.00 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. Northland Securities set a $1,000.00 price target on Lumentum in a research note on Monday, April 20th. Finally, JPMorgan Chase & Co. boosted their price target on Lumentum from $950.00 to $1,130.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,012.43.

Lumentum Price Performance

LITE opened at $854.96 on Monday. The business has a 50 day moving average price of $862.40 and a 200 day moving average price of $585.91. Lumentum Holdings Inc. has a twelve month low of $71.04 and a twelve month high of $1,085.68. 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 market cap of $66.52 billion, a P/E ratio of 158.33 and a beta of 1.47.

Lumentum (NASDAQ:LITE) last posted its 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 firm had revenue of $808.40 million during the quarter, compared to analyst estimates of $810.21 million. During the same period in the previous year, the company earned $0.57 EPS. The company’s revenue for the quarter was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Research analysts forecast that Lumentum Holdings Inc. will post 6.49 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.