Silvant Capital Management LLC Makes New Investment in Lumentum Holdings Inc. $LITE

Silvant Capital Management LLC bought a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 17,534 shares of the technology company’s stock, valued at approximately $15,045,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of LITE. Hilton Head Capital Partners LLC purchased a new position in shares of Lumentum in the 1st quarter worth $25,000. Sachetta LLC grew its holdings in shares of Lumentum by 118.8% in the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after acquiring an additional 19 shares during the period. Truvestments Capital LLC increased its position in Lumentum by 300.0% during the fourth quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after acquiring an additional 57 shares during the last quarter. Triumph Capital Management purchased a new stake in Lumentum during the fourth quarter valued at $30,000. Finally, Danske Bank A S bought a new position in Lumentum in the third quarter valued at about $33,000. 94.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

LITE has been the topic of several research reports. B. Riley Financial reissued a “buy” rating on shares of Lumentum in a research report on Friday, May 1st. Stifel Nicolaus increased their price objective on shares of Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Barclays raised their price objective on shares of Lumentum from $750.00 to $1,000.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Citigroup restated a “buy” rating on shares of Lumentum in a research report on Wednesday, August 12th. Finally, Northland Securities upped their target price on shares of Lumentum from $1,000.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Thirteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,044.67.

Lumentum Stock Performance

NASDAQ:LITE opened at $879.28 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.40 and a current ratio of 1.68. The stock has a 50-day simple moving average of $810.86 and a two-hundred day simple moving average of $789.68. The firm has a market capitalization of $78.87 billion, a PE ratio of -10.70 and a beta of 1.50. Lumentum Holdings Inc. has a 52-week low of $115.21 and a 52-week high of $1,085.68.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Tuesday, August 11th. The technology company reported $3.23 EPS for the quarter, topping the consensus estimate of $2.97 by $0.26. Lumentum had a positive return on equity of 26.34% and a negative net margin of 230.15%.The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $987.70 million. During the same quarter last year, the company earned $0.88 earnings per share. The business’s revenue for the quarter was up 109.3% compared to the same quarter last year. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Analysts forecast that Lumentum Holdings Inc. will post 16.95 EPS for the current year.

Insider Buying and Selling

In related news, SVP Jae Kim sold 1,366 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $909.43, for a total transaction of $1,242,281.38. Following the completion of the transaction, the senior vice president owned 45,973 shares in the company, valued at approximately $41,809,225.39. This represents a 2.89% decrease in their ownership of the stock. The sale was disclosed in a legal 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, Director Isaac Hosojiro Harris sold 1,416 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $1,000.08, for a total value of $1,416,113.28. Following the transaction, the director owned 6,984 shares of the company’s stock, valued at approximately $6,984,558.72. The trade was a 16.86% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 9,965 shares of company stock valued at $8,993,110. 0.43% of the stock is 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.