52,749 Shares in Lumentum Holdings Inc. $LITE Acquired by Estuary Capital Management LP

Estuary Capital Management LP acquired a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) in the 1st quarter, Holdings Channel reports. The firm acquired 52,749 shares of the technology company’s stock, valued at approximately $37,070,000. Lumentum accounts for approximately 6.2% of Estuary Capital Management LP’s holdings, making the stock its 5th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LITE. Maverick Capital Ltd. purchased a new stake in Lumentum during the first quarter worth $1,526,000. Quantinno Capital Management LP increased its position in shares of Lumentum by 19.9% in the first quarter. Quantinno Capital Management LP now owns 21,792 shares of the technology company’s stock valued at $15,315,000 after buying an additional 3,621 shares in the last quarter. Clough Capital Partners L P raised its stake in shares of Lumentum by 3.0% during the 1st quarter. Clough Capital Partners L P now owns 2,580 shares of the technology company’s stock worth $1,813,000 after buying an additional 76 shares during the last quarter. SummitTX Capital L.P. acquired a new position in shares of Lumentum during the 1st quarter worth $882,000. Finally, ABS Direct Equity Fund LLC purchased a new stake in shares of Lumentum in the 1st quarter worth about $351,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Lumentum Price Performance

Lumentum stock opened at $711.96 on Tuesday. The stock has a market capitalization of $55.39 billion, a P/E ratio of 131.84 and a beta of 1.48. Lumentum Holdings Inc. has a 12-month low of $101.61 and a 12-month 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’s 50-day moving average is $841.23 and its two-hundred day moving average is $730.69.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.10. The business 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 company’s revenue was up 90.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Equities analysts predict that Lumentum Holdings Inc. will post 6.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

LITE has been the subject of several recent research reports. Zacks Research downgraded shares of Lumentum from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $1,200.00 price target on shares of Lumentum in a report on Wednesday, May 6th. Craig Hallum raised their price objective on shares of Lumentum from $900.00 to $1,150.00 in a research note on Wednesday, May 6th. B. Riley Financial restated a “buy” rating on shares of Lumentum in a research report on Friday, May 1st. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $1,014.00 target price on shares of Lumentum in a research note on Wednesday, May 6th. Fourteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,012.67.

Insider Transactions at Lumentum

In other news, insider Vincent Retort sold 3,183 shares of Lumentum stock in a transaction on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $3,036,422.85. Following the completion of the sale, the insider owned 89,563 shares of the company’s stock, 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 document filed 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jae Kim sold 1,422 shares of the company’s stock in a transaction 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 transaction, the senior vice president owned 32,333 shares of the company’s stock, valued at $30,844,065.35. The trade was a 4.21% decrease in their ownership of the stock. 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 41,260 shares of company stock worth $38,859,220 in the last three months. 0.43% of the stock is currently owned by company insiders.

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.