Waverly Advisors LLC Buys Shares of 740 Lumentum Holdings Inc. $LITE

Waverly Advisors LLC bought a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the first quarter, Holdings Channel reports. The fund bought 740 shares of the technology company’s stock, valued at approximately $520,000.

Several other large investors also recently modified their holdings of LITE. Entropy Technologies LP raised its holdings in shares of Lumentum by 4.3% in the 1st quarter. Entropy Technologies LP now owns 15,681 shares of the technology company’s stock worth $11,020,000 after purchasing an additional 650 shares during the period. Bridgewater Advisors Inc. bought a new position in Lumentum during the first quarter valued at $166,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Lumentum by 448,200.0% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,483 shares of the technology company’s stock valued at $3,150,000 after purchasing an additional 4,482 shares during the period. Dai ichi Life Insurance Company Ltd purchased a new stake in Lumentum in the first quarter worth $472,000. Finally, Renaissance Technologies LLC purchased a new stake in Lumentum in the first quarter worth $142,546,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insiders Place Their Bets

In other news, Director Brian Lillie sold 11,951 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $981.64, for a total transaction of $11,731,579.64. Following the sale, the director directly owned 13,959 shares in the company, valued at $13,702,712.76. This represents a 46.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 3,210 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $3,062,179.50. Following the completion of the sale, the insider directly owned 81,488 shares in the company, valued at approximately $77,735,477.60. The trade was a 3.79% decrease in their ownership of the stock. 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. Insiders have sold 41,260 shares of company stock worth $38,859,220 over the last quarter. Insiders own 0.43% of the company’s stock.

Lumentum Stock Performance

NASDAQ:LITE opened at $713.94 on Monday. The company has a market cap of $55.54 billion, a P/E ratio of 132.21 and a beta of 1.50. The stock’s fifty day moving average price is $821.07 and its two-hundred day moving average price is $739.34. Lumentum Holdings Inc. has a 1 year low of $101.61 and a 1 year high of $1,085.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97.

Lumentum (NASDAQ:LITE) last announced its quarterly 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 during the quarter, compared to analysts’ expectations of $810.21 million. During the same period in the previous year, the business earned $0.57 earnings per share. The firm’s quarterly revenue was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, analysts expect that Lumentum Holdings Inc. will post 6.42 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Morgan Stanley upped their price target on Lumentum from $710.00 to $900.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. B. Riley Financial reiterated a “buy” rating on shares of Lumentum in a research note on Friday, May 1st. Loop Capital lifted their price objective on Lumentum from $900.00 to $1,400.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Jefferies Financial Group restated a “buy” rating and issued a $1,200.00 price objective on shares of Lumentum in a research note on Wednesday, May 6th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $1,014.00 price objective on shares of Lumentum in a report on Wednesday, May 6th. Fourteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.