Artemis Wealth Advisors LLC Makes New $2.21 Million Investment in Lumentum Holdings Inc. $LITE

Artemis Wealth Advisors LLC bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,000 shares of the technology company’s stock, valued at approximately $2,212,000. Lumentum makes up 0.3% of Artemis Wealth Advisors LLC’s portfolio, making the stock its 18th largest position.

Other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in shares of Lumentum by 363.9% in the third quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock worth $27,000 after buying an additional 131 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Lumentum in the fourth quarter worth $28,000. Triumph Capital Management purchased a new stake in shares of Lumentum in the fourth quarter worth $30,000. Danske Bank A S purchased a new stake in shares of Lumentum in the third quarter worth $33,000. Finally, Harbour Investments Inc. raised its position in shares of Lumentum by 675.0% in the fourth quarter. Harbour Investments Inc. now owns 93 shares of the technology company’s stock worth $34,000 after buying an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insiders Place Their Bets

In related news, Director Brian Lillie sold 11,951 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $981.64, for a total value of $11,731,579.64. Following the transaction, the director owned 13,959 shares of the company’s stock, valued at $13,702,712.76. This represents a 46.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian Small sold 4,954 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $868.07, for a total value of $4,300,418.78. Following the completion of the transaction, the director directly owned 21,008 shares in the company, valued at approximately $18,236,414.56. This represents a 19.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 41,260 shares of company stock valued at $38,859,220 over the last quarter. Insiders own 0.43% of the company’s stock.

Wall Street Analysts Forecast Growth

LITE has been the topic of a number of recent analyst reports. BNP Paribas Exane increased their price objective on Lumentum from $1,040.00 to $1,300.00 in a research report on Wednesday, May 6th. TD Cowen increased their price objective on Lumentum from $875.00 to $995.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Northland Securities increased their price objective on Lumentum from $1,000.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. UBS Group increased their price objective on Lumentum from $455.00 to $960.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, Zacks Research upgraded Lumentum from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,021.95.

Lumentum Stock Up 3.6%

LITE opened at $921.56 on Friday. The stock has a market cap of $71.70 billion, a PE ratio of 170.66 and a beta of 1.47. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a 52 week low of $81.93 and a 52 week high of $1,085.68. The business’s fifty day simple moving average is $897.64 and its 200 day simple moving average is $629.72.

Lumentum (NASDAQ:LITE) last released its earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.10. The business had revenue of $808.40 million for the quarter, compared to analysts’ expectations of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The firm’s revenue was up 90.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, research analysts expect that Lumentum Holdings Inc. will post 6.49 earnings per share for the current fiscal year.

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.