981 Shares in Lumentum Holdings Inc. $LITE Bought by Gateway Wealth Partners LLC

Gateway Wealth Partners LLC acquired a new position in Lumentum Holdings Inc. (NASDAQ:LITE) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 981 shares of the technology company’s stock, valued at approximately $689,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership raised its holdings in shares of Lumentum by 18.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,854,801 shares of the technology company’s stock worth $683,661,000 after purchasing an additional 291,591 shares during the period. Geode Capital Management LLC lifted its position in shares of Lumentum by 9.6% in the 4th quarter. Geode Capital Management LLC now owns 1,412,213 shares of the technology company’s stock worth $521,563,000 after buying an additional 123,265 shares during the last quarter. Situational Awareness LP boosted its holdings in shares of 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. Norges Bank acquired a new position in shares of Lumentum in the 4th quarter valued at about $474,495,000. Finally, Value Aligned Research Advisors LLC bought a new stake in shares of Lumentum during the 4th quarter valued at about $432,062,000. Institutional investors own 94.05% of the company’s stock.

Lumentum Stock Up 15.1%

LITE stock opened at $693.24 on Friday. 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 fifty-two week low of $101.61 and a fifty-two week high of $1,085.68. The firm’s 50-day simple moving average is $825.72 and its 200 day simple moving average is $736.71. The stock has a market cap of $53.93 billion, a PE ratio of 128.38 and a beta of 1.48.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating the consensus estimate 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 net margin of 17.61% and a return on equity of 24.81%. Lumentum’s quarterly revenue was up 90.1% compared to the same quarter last year. During the same period last year, the firm posted $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, sell-side analysts predict that Lumentum Holdings Inc. will post 6.42 EPS for the current year.

Insider Activity at Lumentum

In other news, CFO Wajid Ali sold 2,487 shares of the business’s 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 $2,372,473.65. Following the completion of the transaction, the chief financial officer directly owned 60,951 shares in the company, valued at approximately $58,144,206.45. The trade was a 3.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through 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 stock in a transaction that occurred on Monday, May 18th. The stock was 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 directly owned 32,333 shares of the company’s stock, valued at $30,844,065.35. This trade represents 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. In the last 90 days, insiders have sold 41,260 shares of company stock valued at $38,859,220. Company insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on LITE. Barclays increased their price objective on shares of Lumentum from $750.00 to $1,000.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Loop Capital lifted their target price on Lumentum from $900.00 to $1,400.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. TD Cowen lowered their target price on Lumentum from $995.00 to $800.00 and set a “hold” rating for the company in a report on Monday, July 13th. Morgan Stanley increased their price target on Lumentum from $710.00 to $900.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. raised their price target on Lumentum from $950.00 to $1,130.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Fourteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Lumentum presently has an average rating of “Moderate Buy” and an average target price of $1,012.67.

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.