Bull Harbor Capital LLC Buys New Position in Lumentum Holdings Inc. $LITE

Bull Harbor Capital LLC bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 837 shares of the technology company’s stock, valued at approximately $588,000.

Other hedge funds also recently modified their holdings of the company. Hilton Head Capital Partners LLC purchased a new stake in shares of Lumentum during the first quarter worth about $25,000. Sachetta LLC lifted its stake in shares of Lumentum by 118.8% during the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after buying an additional 19 shares during the period. V Square Quantitative Management LLC acquired a new stake in Lumentum during the fourth quarter worth approximately $28,000. Truvestments Capital LLC boosted its position in Lumentum by 300.0% during the fourth quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock worth $28,000 after acquiring an additional 57 shares during the last quarter. Finally, Triumph Capital Management purchased a new stake in Lumentum in the 4th quarter worth approximately $30,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Yuen Wupen sold 3,210 shares of Lumentum stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $3,062,179.50. Following the transaction, the insider directly owned 81,488 shares of the company’s stock, valued at $77,735,477.60. The trade was a 3.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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, insider Vincent Retort sold 3,183 shares of the business’s stock in a transaction dated 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 $85,438,623.85. The trade was a 3.43% decrease in their position. The SEC filing for this sale provides additional information. 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 quarter, insiders sold 41,260 shares of company stock worth $38,859,220. Corporate insiders own 0.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on LITE. B. Riley Financial reissued a “buy” rating on shares of Lumentum in a research note on Friday, May 1st. Citic Securities lifted their price objective on Lumentum from $620.00 to $1,186.00 in a research report on Monday, May 11th. Stifel Nicolaus upped their target price on Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Zacks Research downgraded Lumentum from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Rosenblatt Securities raised their price target on Lumentum from $900.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Fourteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,012.67.

Lumentum Stock Up 15.1%

Shares of LITE opened at $693.24 on Friday. Lumentum Holdings Inc. has a fifty-two week low of $101.61 and a fifty-two week high of $1,085.68. The company’s fifty day moving average is $825.72 and its two-hundred day moving average is $736.71. The firm has a market cap of $53.93 billion, a PE ratio of 128.38 and a beta of 1.48. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The business had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. During the same period in the prior year, the firm posted $0.57 EPS. The business’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. Analysts forecast that Lumentum Holdings Inc. will post 6.42 earnings per share for the current year.

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.