Bull Harbor Capital LLC Invests $588,000 in Lumentum Holdings Inc. $LITE

Bull Harbor Capital LLC purchased a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 837 shares of the technology company’s stock, valued at approximately $588,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Sachetta LLC raised its stake in shares of Lumentum by 118.8% during the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after buying an additional 19 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new stake in shares of Lumentum in the first quarter valued at approximately $25,000. Abel Hall LLC grew its holdings in Lumentum by 5.5% during the first quarter. Abel Hall LLC now owns 693 shares of the technology company’s stock worth $487,000 after acquiring an additional 36 shares during the period. Checchi Capital Advisers LLC grew its holdings in 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 during the period. Finally, 180 Wealth Advisors LLC lifted its holdings in Lumentum by 2.9% in the first quarter. 180 Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock valued at $1,092,000 after acquiring an additional 44 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Lumentum Trading Up 15.1%

NASDAQ:LITE opened at $693.24 on Friday. Lumentum Holdings Inc. has a 52-week low of $101.61 and a 52-week high of $1,085.68. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $825.72 and a 200-day simple moving average of $736.71. The company has a market capitalization 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 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $810.21 million. During the same period in the prior year, the company earned $0.57 EPS. The firm’s revenue was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, equities research analysts expect that Lumentum Holdings Inc. will post 6.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Vincent Retort sold 3,183 shares of the company’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 value of $3,036,422.85. Following the sale, the insider owned 89,563 shares of the company’s stock, valued at approximately $85,438,623.85. This represents a 3.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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, CFO Wajid Ali sold 2,487 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $2,372,473.65. Following the sale, the chief financial officer owned 60,951 shares in the company, valued at approximately $58,144,206.45. This trade represents a 3.92% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 41,260 shares of company stock valued at $38,859,220. Corporate insiders own 0.43% of the company’s stock.

Analyst Ratings Changes

LITE has been the topic of several research analyst reports. Susquehanna boosted their target price on shares of Lumentum from $550.00 to $1,100.00 and gave the stock a “positive” rating in a research report on Monday, April 20th. JPMorgan Chase & Co. raised their price objective on shares of Lumentum from $950.00 to $1,130.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Northland Securities boosted their price objective on shares of Lumentum from $1,000.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,040.00 target price on shares of Lumentum in a report on Tuesday, June 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Lumentum in a research report on Friday, July 17th. Fourteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,012.67.

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.