Wedmont Private Capital Makes New Investment in Lumentum Holdings Inc. $LITE

Wedmont Private Capital purchased a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,150 shares of the technology company’s stock, valued at approximately $452,000.

Several other institutional investors and hedge funds also recently modified their holdings of LITE. Vanguard Group Inc. grew its holdings in shares of Lumentum by 0.6% during the third quarter. Vanguard Group Inc. now owns 7,485,282 shares of the technology company’s stock worth $1,217,930,000 after buying an additional 41,975 shares in the last quarter. Hood River Capital Management LLC lifted its stake in Lumentum by 82.1% in 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 acquiring an additional 994,551 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Lumentum by 8,579.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock worth $254,350,000 after acquiring an additional 1,545,199 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Lumentum by 4.4% during the 3rd quarter. Alliancebernstein L.P. now owns 1,085,119 shares of the technology company’s stock worth $176,560,000 after acquiring an additional 45,953 shares in the last quarter. Finally, Channing Capital Management LLC grew its stake in shares of Lumentum by 61.0% during the 2nd quarter. Channing Capital Management LLC now owns 948,334 shares of the technology company’s stock worth $90,149,000 after acquiring an additional 359,394 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Lumentum

In related news, Director Penny Herscher sold 4,000 shares of the business’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $597.29, for a total value of $2,389,160.00. Following the completion of the sale, the director directly owned 2,057 shares in the company, valued at $1,228,625.53. The trade was a 66.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Yuen Wupen sold 3,157 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $538.00, for a total value of $1,698,466.00. Following the completion of the transaction, the insider directly owned 88,439 shares in the company, valued at approximately $47,580,182. This represents a 3.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 65,775 shares of company stock valued at $38,851,343. 0.43% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LITE has been the subject of several recent research reports. Northland Securities set a $350.00 target price on shares of Lumentum in a report on Wednesday, December 3rd. TD Cowen began coverage on Lumentum in a report on Thursday, March 12th. They issued a “hold” rating and a $675.00 price objective for the company. Needham & Company LLC upped their target price on Lumentum to $850.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. B. Riley Financial raised Lumentum from a “neutral” rating to a “buy” rating and increased their price target for the company from $147.00 to $526.00 in a research report on Wednesday, February 4th. Finally, Barclays raised their price target on Lumentum to $750.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $575.06.

Lumentum Stock Performance

NASDAQ LITE opened at $801.99 on Wednesday. The stock has a market cap of $57.26 billion, a PE ratio of 246.01 and a beta of 1.38. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.45 and a current ratio of 0.61. The firm has a 50-day moving average of $558.75 and a 200-day moving average of $360.20. Lumentum Holdings Inc. has a 52-week low of $45.65 and a 52-week high of $803.58.

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

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.