Waverly Advisors LLC Takes Position in Lumentum Holdings Inc. $LITE

Waverly Advisors LLC bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 740 shares of the technology company’s stock, valued at approximately $520,000.

Several other hedge funds have also bought and sold shares of the business. Sachetta LLC raised its holdings in Lumentum by 118.8% during the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after buying an additional 19 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new position in shares of Lumentum during the first quarter valued at about $25,000. Abel Hall LLC grew its holdings in shares of Lumentum by 5.5% during the first quarter. Abel Hall LLC now owns 693 shares of the technology company’s stock valued at $487,000 after buying an additional 36 shares during the last quarter. Checchi Capital Advisers LLC increased its position in shares of Lumentum by 5.1% during the first quarter. Checchi Capital Advisers LLC now owns 790 shares of the technology company’s stock worth $555,000 after acquiring an additional 38 shares in the last quarter. Finally, 180 Wealth Advisors LLC increased its position in shares of Lumentum by 2.9% during the first quarter. 180 Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock worth $1,092,000 after acquiring an additional 44 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Lumentum Price Performance

Lumentum stock opened at $713.94 on Monday. Lumentum Holdings Inc. has a fifty-two week low of $101.61 and a fifty-two week high of $1,085.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14. The firm’s 50-day simple moving average is $821.07 and its 200 day simple moving average is $739.34. The stock has a market cap of $55.54 billion, a PE ratio of 132.21 and a beta of 1.50.

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

Analyst Ratings Changes

Several equities analysts recently weighed in on LITE shares. Citic Securities raised their price target on shares of Lumentum from $620.00 to $1,186.00 in a research report on Monday, May 11th. Jefferies Financial Group reissued a “buy” rating and set a $1,200.00 price objective on shares of Lumentum in a report on Wednesday, May 6th. Stifel Nicolaus increased their price objective on Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Raymond James Financial restated an “outperform” rating and issued a $1,014.00 target price on shares of Lumentum in a report on Wednesday, May 6th. Finally, Morgan Stanley lifted their target price on Lumentum from $710.00 to $900.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Lumentum currently has an average rating of “Moderate Buy” and a consensus price target of $1,012.67.

Insider Buying and Selling

In related news, Director Ian Small sold 4,954 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the completion of the sale, the director directly owned 21,008 shares of the company’s stock, valued at approximately $18,236,414.56. This trade represents a 19.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Isaac Hosojiro Harris sold 4,000 shares of Lumentum stock in a transaction on Friday, May 29th. The stock was sold at an average price of $860.00, for a total value of $3,440,000.00. Following the sale, the director owned 8,400 shares in the company, valued at $7,224,000. This trade represents 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. Insiders sold a total of 41,260 shares of company stock valued at $38,859,220 over the last quarter. Corporate insiders own 0.43% of the company’s stock.

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.