PCM Encore LLC Invests $591,000 in Lumentum Holdings Inc. $LITE

PCM Encore LLC acquired a new position in Lumentum Holdings Inc. (NASDAQ:LITE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 689 shares of the technology company’s stock, valued at approximately $591,000.

Other institutional investors also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. raised its stake in Lumentum by 45.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company’s stock worth $136,306,000 after buying an additional 114,714 shares during the period. Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of Lumentum during the first quarter worth about $2,046,000. Styrax Capital LP raised its holdings in shares of Lumentum by 3.6% in the 1st quarter. Styrax Capital LP now owns 140,000 shares of the technology company’s stock worth $98,386,000 after acquiring an additional 4,837 shares during the last quarter. Whittier Trust Co. raised its holdings in shares of Lumentum by 21,806.5% in the 1st quarter. Whittier Trust Co. now owns 74,044 shares of the technology company’s stock worth $57,183,000 after acquiring an additional 73,706 shares during the last quarter. Finally, Andar Capital Management HK Ltd bought a new position in Lumentum in the 4th quarter valued at about $4,325,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Lumentum Trading Up 6.2%

Shares of Lumentum stock opened at $879.28 on Friday. The stock has a market capitalization of $78.87 billion, a P/E 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. 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’s 50-day simple moving average is $810.86 and its 200 day simple moving average is $789.68.

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

Analysts Set New Price Targets

A number of analysts have commented on the company. Needham & Company LLC reissued a “buy” rating and set a $1,040.00 price objective on shares of Lumentum in a report on Wednesday, August 12th. Citic Securities raised their target price on Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. Stifel Nicolaus raised their target price on Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Bank of America cut their target price on Lumentum from $1,100.00 to $1,000.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 12th. Finally, UBS Group set a $820.00 price target on Lumentum in a report on Wednesday, August 12th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Lumentum currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,044.67.

Insiders Place Their Bets

In other news, Director Isaac Hosojiro Harris sold 1,416 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total value of $1,416,113.28. Following the completion of the transaction, the director directly owned 6,984 shares of the company’s stock, valued at $6,984,558.72. This trade represents a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jae Kim sold 1,366 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $909.43, for a total value of $1,242,281.38. Following the sale, the senior vice president owned 45,973 shares in the company, valued at approximately $41,809,225.39. The trade was a 2.89% 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. Insiders have sold a total of 9,965 shares of company stock worth $8,993,110 over the last 90 days. Corporate insiders own 0.43% of the company’s stock.

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.