O Neil Global Advisors Inc. Takes Position in Lumentum Holdings Inc. $LITE

O Neil Global Advisors Inc. bought a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,308 shares of the technology company’s stock, valued at approximately $538,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Hood River Capital Management LLC lifted its holdings in shares of Lumentum by 82.1% during the 2nd quarter. Hood River Capital Management LLC now owns 2,206,453 shares of the technology company’s stock valued at $209,745,000 after purchasing an additional 994,551 shares in the last quarter. Norges Bank bought a new stake in Lumentum during the second quarter worth $82,983,000. WT Asset Management Ltd lifted its stake in Lumentum by 170.0% in the 3rd quarter. WT Asset Management Ltd now owns 710,208 shares of the technology company’s stock valued at $115,558,000 after purchasing an additional 447,208 shares during the last quarter. FengHe Fund Management Pte. Ltd. bought a new position in shares of Lumentum during the 3rd quarter worth approximately $71,771,000. Finally, Channing Capital Management LLC increased its holdings in shares of Lumentum by 61.0% in the second quarter. Channing Capital Management LLC now owns 948,334 shares of the technology company’s stock valued at $90,149,000 after purchasing an additional 359,394 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Analyst Ratings Changes

LITE has been the subject of a number of research reports. Needham & Company LLC lifted their target price on Lumentum to $550.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Northland Securities set a $350.00 target price on shares of Lumentum in a research report on Wednesday, December 3rd. JPMorgan Chase & Co. lifted their target price on shares of Lumentum to $565.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Susquehanna increased their price objective on shares of Lumentum to $550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 4th. Finally, Raymond James Financial lowered Lumentum from a “strong-buy” rating to an “outperform” rating and set a $220.00 price objective for the company. in a report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $447.38.

Lumentum Stock Up 5.1%

Shares of NASDAQ:LITE opened at $667.77 on Monday. The stock’s 50-day moving average is $419.10 and its 200 day moving average is $273.54. Lumentum Holdings Inc. has a 1 year low of $45.65 and a 1 year high of $678.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.61 and a quick ratio of 0.45. The company has a market cap of $47.68 billion, a PE ratio of 204.84 and a beta of 1.51.

Lumentum (NASDAQ:LITE) last released its earnings results on Tuesday, February 3rd. The technology company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.26. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.The company had revenue of $665.50 million during the quarter, compared to analysts’ expectations of $646.74 million. During the same quarter last year, the business posted $0.42 EPS. The firm’s revenue for the quarter was up 65.5% compared to the same quarter last year. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. Sell-side analysts anticipate that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Insider Activity

In related news, insider Vincent Retort sold 3,441 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $545.78, for a total value of $1,878,028.98. Following the transaction, the insider owned 95,975 shares of the company’s stock, valued at approximately $52,381,235.50. This trade represents a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Yuen Wupen sold 3,157 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $538.00, for a total transaction of $1,698,466.00. Following the sale, the insider owned 88,439 shares in the company, valued at $47,580,182. The trade was a 3.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 60,473 shares of company stock valued at $35,186,972 in the last quarter. 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.