Patton Fund Management Inc. Makes New Investment in Lumentum Holdings Inc. $LITE

Patton Fund Management Inc. purchased a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,401 shares of the technology company’s stock, valued at approximately $5,201,000. Lumentum makes up approximately 0.9% of Patton Fund Management Inc.’s investment portfolio, making the stock its 13th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Arrowstreet Capital Limited Partnership grew its holdings in shares of Lumentum by 8,579.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock valued at $254,350,000 after purchasing an additional 1,545,199 shares in the last quarter. Norges Bank acquired a new stake in Lumentum during the 4th quarter worth approximately $474,495,000. Value Aligned Research Advisors LLC acquired a new stake in Lumentum during the 4th quarter worth approximately $432,062,000. Situational Awareness LP boosted its position in Lumentum by 210.9% in the 4th quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock valued at $478,577,000 after buying an additional 880,800 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Lumentum by 707.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company’s stock valued at $366,555,000 after purchasing an additional 871,249 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Lumentum Trading Up 0.2%

NASDAQ:LITE opened at $818.73 on Monday. The stock’s 50 day moving average price is $901.03 and its 200 day moving average price is $670.68. The company has a market capitalization of $63.70 billion, a PE ratio of 151.62 and a beta of 1.47. 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 52-week low of $88.37 and a 52-week high of $1,085.68.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS 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 for the quarter, compared to analyst estimates of $810.21 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. The firm’s 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, research analysts anticipate that Lumentum Holdings Inc. will post 6.4 EPS for the current year.

Analyst Upgrades and Downgrades

LITE has been the topic of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Lumentum in a report on Tuesday, April 21st. Rosenblatt Securities boosted their target price on shares of Lumentum from $900.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Raymond James Financial reissued an “outperform” rating and issued a $1,014.00 target price on shares of Lumentum in a report on Wednesday, May 6th. B. Riley Financial restated a “buy” rating on shares of Lumentum in a research note on Friday, May 1st. Finally, Loop Capital lifted their price target on Lumentum from $900.00 to $1,400.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,021.95.

Insiders Place Their Bets

In other news, Director Isaac Hosojiro Harris sold 4,000 shares of Lumentum stock in a transaction on Friday, May 29th. The shares were sold at an average price of $860.00, for a total value of $3,440,000.00. Following the transaction, the director directly owned 8,400 shares of the company’s stock, valued at $7,224,000. The trade was a 32.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brian Lillie sold 11,951 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $981.64, for a total transaction of $11,731,579.64. Following the completion of the sale, 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 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. Over the last ninety days, insiders sold 41,260 shares of company stock worth $38,859,220. Corporate insiders own 0.43% of the company’s stock.

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.