Patten Group Inc. Makes New Investment in Lumentum Holdings Inc. $LITE

Patten Group Inc. acquired a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 824 shares of the technology company’s stock, valued at approximately $579,000.

Several other institutional investors have also modified their holdings of LITE. Hilton Head Capital Partners LLC purchased a new position in shares of Lumentum in the 1st quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its holdings in Lumentum by 363.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock valued at $27,000 after buying an additional 131 shares during the period. V Square Quantitative Management LLC purchased a new stake in Lumentum during the 4th quarter valued at $28,000. Truvestments Capital LLC lifted its position in Lumentum by 300.0% in the fourth 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, Triumph Capital Management bought a new stake in Lumentum in the fourth quarter worth $30,000. 94.05% of the stock is owned by institutional investors.

Lumentum Stock Performance

Shares of Lumentum stock opened at $728.32 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average is $892.56 and its two-hundred day moving average is $683.79. Lumentum Holdings Inc. has a 52 week low of $88.93 and a 52 week high of $1,085.68. The company has a market capitalization of $56.66 billion, a PE ratio of 134.87 and a beta of 1.48.

Lumentum (NASDAQ:LITE) last released its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.10. The business had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The business’s revenue for the quarter was up 90.1% compared to the same quarter last year. During the same period last year, the company earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, analysts expect that Lumentum Holdings Inc. will post 6.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LITE shares. Rosenblatt Securities boosted their price objective on shares of Lumentum from $900.00 to $1,300.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. B. Riley Financial restated a “buy” rating on shares of Lumentum in a report on Friday, May 1st. Northland Securities lifted their price target on shares of Lumentum from $1,000.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Citigroup lifted their price target on shares of Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Finally, Stifel Nicolaus upped their price target on shares of Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently 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 the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $860.00, for a total value of $3,440,000.00. Following the completion of the sale, the director directly owned 8,400 shares of the company’s stock, valued at $7,224,000. The trade was a 32.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of the transaction, the director 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 41,260 shares of company stock worth $38,859,220 over the last ninety days. 0.43% of the stock is 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.