Lumentum Holdings Inc. $LITE Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP raised its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 19.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 21,792 shares of the technology company’s stock after purchasing an additional 3,621 shares during the quarter. Quantinno Capital Management LP’s holdings in Lumentum were worth $15,315,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Clough Capital Partners L P raised its position in shares of Lumentum by 3.0% in the first quarter. Clough Capital Partners L P now owns 2,580 shares of the technology company’s stock valued at $1,813,000 after buying an additional 76 shares during the last quarter. SummitTX Capital L.P. acquired a new position in Lumentum during the first quarter worth about $882,000. ABS Direct Equity Fund LLC acquired a new position in Lumentum during the first quarter worth about $351,000. Corsair Capital Management L.P. purchased a new stake in Lumentum during the 1st quarter valued at about $351,000. Finally, Gateway Wealth Partners LLC purchased a new stake in Lumentum during the 1st quarter valued at about $689,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Lumentum Stock Performance

NASDAQ:LITE opened at $713.94 on Monday. 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 $55.54 billion, a price-to-earnings ratio of 132.21 and a beta of 1.50. The company’s 50-day moving average is $821.07 and its two-hundred day moving average is $739.34. Lumentum Holdings Inc. has a 1-year low of $101.61 and a 1-year high of $1,085.68.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. The business had revenue of $808.40 million during 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%. The business’s revenue was up 90.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Analysts forecast that Lumentum Holdings Inc. will post 6.42 EPS for the current year.

Analyst Upgrades and Downgrades

LITE has been the topic of a number of research reports. Jefferies Financial Group reissued a “buy” rating and issued a $1,200.00 target price on shares of Lumentum in a research note on Wednesday, May 6th. Needham & Company LLC restated a “buy” rating and issued a $1,040.00 price target on shares of Lumentum in a research report on Tuesday, June 9th. Mizuho set a $1,100.00 price target on Lumentum in a research report on Wednesday, May 6th. Stifel Nicolaus increased their price target on Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. lifted their price objective on Lumentum from $950.00 to $1,130.00 and gave the stock 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 issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,012.67.

Insider Transactions at Lumentum

In other Lumentum news, insider Yuen Wupen sold 3,210 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $3,062,179.50. Following the completion of the sale, the insider owned 81,488 shares of the company’s stock, valued at $77,735,477.60. This trade represents a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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, Director Brian Lillie sold 11,951 shares of Lumentum stock in a transaction on Monday, May 11th. The shares were sold at an average price of $981.64, for a total value of $11,731,579.64. Following the completion of the sale, the director owned 13,959 shares in the company, valued at $13,702,712.76. This represents a 46.13% decrease in their position. 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. Insiders sold a total of 41,260 shares of company stock valued at $38,859,220 in the last ninety days. 0.43% of the stock is currently owned by corporate 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.