Portfolio Design Labs LLC Acquires Shares of 654 Lumentum Holdings Inc. $LITE

Portfolio Design Labs LLC acquired a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the second quarter, HoldingsChannel.com reports. The fund acquired 654 shares of the technology company’s stock, valued at approximately $561,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hilton Head Capital Partners LLC bought a new position in shares of Lumentum during the first quarter worth $25,000. Sachetta LLC grew its stake in Lumentum by 118.8% during the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after acquiring an additional 19 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Lumentum in the 2nd quarter valued at $40,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Lumentum in the 2nd quarter valued at $51,000. Finally, Wiser Advisor Group LLC lifted its stake in Lumentum by 6,000.0% in the 1st quarter. Wiser Advisor Group LLC now owns 61 shares of the technology company’s stock worth $43,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Lumentum Trading Up 6.2%

LITE opened at $879.28 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.68 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average is $810.86 and its two-hundred day moving average is $789.68. The company has a market capitalization of $78.87 billion, a P/E ratio of -10.70 and a beta of 1.50. Lumentum Holdings Inc. has a 52 week low of $115.21 and a 52 week high of $1,085.68.

Lumentum (NASDAQ:LITE) last issued its earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.26. Lumentum had a positive return on equity of 26.34% and a negative net margin of 230.15%.The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $987.70 million. During the same period in the prior year, the business earned $0.88 EPS. The business’s revenue for the quarter was up 109.3% compared to the same quarter last year. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Analysts forecast that Lumentum Holdings Inc. will post 16.95 earnings per share for the current year.

Insider Activity at Lumentum

In other Lumentum news, Director Isaac Hosojiro Harris sold 1,416 shares of the stock in a transaction dated 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 transaction, the director directly owned 6,984 shares in the company, valued at $6,984,558.72. This represents a 16.86% decrease in their position. The sale was disclosed in a legal filing 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, insider Vincent Retort sold 3,183 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $909.43, for a total transaction of $2,894,715.69. Following the transaction, the insider directly owned 114,495 shares in the company, valued at $104,125,187.85. This trade represents a 2.70% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 9,965 shares of company stock worth $8,993,110 over the last three months. 0.43% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on LITE shares. BNP Paribas Exane increased their price objective on shares of Lumentum from $1,040.00 to $1,300.00 in a report on Wednesday, May 6th. 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 report on Wednesday, June 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $1,040.00 price objective on shares of Lumentum in a report on Wednesday, August 12th. Stifel Nicolaus upped their target price on shares of Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Finally, Citigroup restated a “buy” rating on shares of Lumentum in a research report on Wednesday, August 12th. Thirteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,044.67.

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.