Titan Global Capital Management USA LLC Invests $14.33 Million in Lumentum Holdings Inc. $LITE

Titan Global Capital Management USA LLC purchased a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,394 shares of the technology company’s stock, valued at approximately $14,332,000. Lumentum comprises about 2.1% of Titan Global Capital Management USA LLC’s investment portfolio, making the stock its 19th largest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Commerzbank Aktiengesellschaft FI acquired a new stake in Lumentum in the 1st quarter worth about $225,000. Meeder Asset Management Inc. acquired a new position in shares of Lumentum during the first quarter valued at approximately $63,000. Parallel Advisors LLC lifted its position in shares of Lumentum by 71.8% in the first quarter. Parallel Advisors LLC now owns 560 shares of the technology company’s stock valued at $394,000 after acquiring an additional 234 shares in the last quarter. Ironwood Investment Counsel LLC purchased a new position in shares of Lumentum in the first quarter valued at approximately $344,000. Finally, KBC Group NV boosted its stake in shares of Lumentum by 342.8% in the first quarter. KBC Group NV now owns 9,189 shares of the technology company’s stock worth $6,458,000 after acquiring an additional 7,114 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Lumentum news, Director Ian Small sold 4,954 shares of Lumentum stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the transaction, the director directly owned 21,008 shares of the company’s stock, valued at $18,236,414.56. The trade was a 19.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Isaac Hosojiro Harris sold 4,000 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $860.00, for a total transaction of $3,440,000.00. Following the completion of the transaction, the director owned 8,400 shares in the company, valued at $7,224,000. The trade was a 32.26% 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. In the last 90 days, insiders have sold 41,260 shares of company stock worth $38,859,220. Insiders own 0.43% of the company’s stock.

Wall Street Analysts Forecast Growth

LITE has been the subject of several research reports. BNP Paribas Exane boosted their price target on Lumentum from $1,040.00 to $1,300.00 in a research report on Wednesday, May 6th. Needham & Company LLC restated a “buy” rating and issued a $1,040.00 price objective on shares of Lumentum in a report on Tuesday, June 9th. TD Cowen dropped their target price on shares of Lumentum from $995.00 to $800.00 and set a “hold” rating for the company in a report on Monday, July 13th. Zacks Research cut shares of Lumentum from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of Lumentum from $950.00 to $1,130.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,012.67.

Lumentum Price Performance

LITE stock 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 firm has a market capitalization of $59.56 billion, a PE ratio of 141.77 and a beta of 1.48. The business has a 50 day simple moving average of $859.31 and a 200-day simple moving average of $715.91.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. The firm had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The firm’s revenue was up 90.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Equities research analysts anticipate that Lumentum Holdings Inc. will post 6.42 earnings per share for the current fiscal 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.