Sierra Summit Advisors LLC Takes $17.95 Million Position in Lumentum Holdings Inc. $LITE

Sierra Summit Advisors LLC purchased a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 25,547 shares of the technology company’s stock, valued at approximately $17,953,000. Lumentum comprises 2.6% of Sierra Summit Advisors LLC’s holdings, making the stock its 5th biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LITE. Advisors Asset Management Inc. grew its position in shares of Lumentum by 36.8% during the first quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock worth $59,000 after acquiring an additional 254 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Lumentum by 109.9% during the 1st quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company’s stock worth $747,000 after purchasing an additional 6,275 shares during the period. Empowered Funds LLC grew its position in Lumentum by 9.1% during the 1st quarter. Empowered Funds LLC now owns 8,139 shares of the technology company’s stock worth $507,000 after purchasing an additional 680 shares during the last quarter. Hsbc Holdings PLC acquired a new position in Lumentum in the second quarter valued at $298,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Lumentum in the second quarter valued at about $1,712,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Jae Kim sold 1,422 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $1,356,516.90. Following the sale, the senior vice president owned 32,333 shares in the company, valued at $30,844,065.35. This represents a 4.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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. Also, Director Ian Small sold 4,954 shares of Lumentum stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total value of $4,300,418.78. Following the transaction, the director directly owned 21,008 shares of the company’s stock, valued at approximately $18,236,414.56. This represents a 19.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 41,260 shares of company stock worth $38,859,220. 0.43% of the stock is owned by insiders.

Lumentum Stock Performance

NASDAQ:LITE opened at $728.32 on Friday. The firm’s fifty day simple moving average is $895.46 and its 200-day simple moving average is $683.47. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The stock has a market cap of $56.66 billion, a PE ratio of 134.87 and a beta of 1.48. Lumentum Holdings Inc. has a fifty-two week low of $88.93 and a fifty-two week high of $1,085.68.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on LITE shares. TD Cowen raised their price target on Lumentum from $875.00 to $995.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. 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 note on Wednesday, May 6th. Northland Securities upped their price objective on shares of Lumentum from $1,000.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Stifel Nicolaus boosted 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, May 5th. Finally, Raymond James Financial restated an “outperform” rating and issued a $1,014.00 price objective on shares of Lumentum in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.95.

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.