Clough Capital Partners L P Takes $923,000 Position in Lumentum Holdings Inc. $LITE

Clough Capital Partners L P acquired a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,504 shares of the technology company’s stock, valued at approximately $923,000.

A number of other hedge funds have also made changes to their positions in the business. Parallel Advisors LLC grew its stake in Lumentum by 16.0% during the 4th quarter. Parallel Advisors LLC now owns 326 shares of the technology company’s stock worth $120,000 after buying an additional 45 shares during the last quarter. Allworth Financial LP grew its stake in Lumentum by 6.4% during the 3rd quarter. Allworth Financial LP now owns 784 shares of the technology company’s stock worth $128,000 after buying an additional 47 shares during the last quarter. UMB Bank n.a. grew its stake in Lumentum by 5.2% during the 4th quarter. UMB Bank n.a. now owns 968 shares of the technology company’s stock worth $357,000 after buying an additional 48 shares during the last quarter. Truvestments Capital LLC grew its stake in Lumentum by 300.0% during the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock worth $28,000 after buying an additional 57 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in Lumentum by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,130 shares of the technology company’s stock worth $5,208,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Lumentum Trading Down 0.6%

Shares of LITE stock opened at $869.98 on Thursday. The business’s 50 day moving average is $903.17 and its two-hundred day moving average is $644.68. Lumentum Holdings Inc. has a twelve month low of $86.57 and a twelve month high of $1,085.68. The company has a market capitalization of $67.68 billion, a P/E ratio of 161.11 and a beta of 1.47. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01.

Lumentum (NASDAQ:LITE) last announced its earnings results 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. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The company had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. During the same period last year, the business posted $0.57 EPS. The company’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. Equities analysts forecast that Lumentum Holdings Inc. will post 6.4 EPS for the current year.

Wall Street Analysts Forecast Growth

LITE has been the topic of a number of research reports. TD Cowen raised their price target on Lumentum from $875.00 to $995.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Susquehanna raised their price target on Lumentum from $550.00 to $1,100.00 and gave the stock a “positive” rating in a research note on Monday, April 20th. Morgan Stanley raised their price target on Lumentum from $710.00 to $900.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Needham & Company LLC restated a “buy” rating and set a $1,040.00 price target on shares of Lumentum in a research note on Tuesday, June 9th. Finally, B. Riley Financial restated a “buy” rating on shares of Lumentum in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,021.95.

Insider Buying and Selling

In other Lumentum news, Director Isaac Hosojiro Harris sold 4,000 shares of Lumentum stock in a transaction that occurred 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 transaction, the director directly owned 8,400 shares in the company, valued at approximately $7,224,000. This trade represents a 32.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vincent Retort sold 3,183 shares of Lumentum stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $3,036,422.85. Following the completion of the transaction, the insider owned 89,563 shares in the company, valued at $85,438,623.85. This trade represents a 3.43% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 41,260 shares of company stock worth $38,859,220. 0.43% of the stock is currently owned by insiders.

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.