HighTower Advisors LLC Buys 846 Shares of Lumentum Holdings Inc. $LITE

HighTower Advisors LLC raised its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 13.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,100 shares of the technology company’s stock after acquiring an additional 846 shares during the period. HighTower Advisors LLC’s holdings in Lumentum were worth $2,617,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Lumentum during the 4th quarter valued at about $6,755,000. Headwater Capital Co Ltd bought a new position in shares of Lumentum in the 3rd quarter worth approximately $20,339,000. Maxi Investments CY Ltd bought a new position in shares of Lumentum in the 4th quarter worth approximately $2,212,000. Estate Counselors LLC bought a new position in shares of Lumentum in the 4th quarter worth approximately $4,239,000. Finally, China Universal Asset Management Co. Ltd. bought a new position in shares of Lumentum in the 3rd quarter worth approximately $1,383,000. Institutional investors own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

LITE has been the topic of several recent research reports. Northland Securities set a $1,000.00 price objective on shares of Lumentum in a research note on Monday, April 20th. Mizuho set a $1,100.00 price objective on shares of Lumentum in a research note on Wednesday, May 6th. Morgan Stanley increased their price objective on shares of Lumentum from $710.00 to $900.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Citic Securities increased their price objective on shares of Lumentum from $620.00 to $1,186.00 in a research note on Monday, May 11th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Lumentum in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,012.43.

Insider Buying and Selling

In related news, SVP Jae Kim sold 1,422 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $1,356,516.90. Following the completion of the sale, the senior vice president directly owned 32,333 shares of the company’s stock, valued at approximately $30,844,065.35. This represents a 4.21% decrease in their position. The transaction 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, insider Vincent Retort sold 3,183 shares of the 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 sale, the insider directly owned 89,563 shares of the company’s stock, valued at $85,438,623.85. This represents a 3.43% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 35,844 shares of company stock worth $34,003,107 in the last ninety days. Corporate insiders own 0.43% of the company’s stock.

Lumentum Stock Performance

Lumentum stock opened at $854.96 on Monday. The firm has a 50 day moving average of $862.40 and a 200 day moving average of $585.91. The firm has a market capitalization of $66.52 billion, a price-to-earnings ratio of 158.33 and a beta of 1.47. Lumentum Holdings Inc. has a 12-month low of $71.04 and a 12-month high of $1,085.68. 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 released its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.10. The company 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 firm’s quarterly revenue was up 90.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, research analysts predict that Lumentum Holdings Inc. will post 6.49 earnings per share 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.