Westpac Banking Corp Invests $3.29 Million in Lumentum Holdings Inc. $LITE

Westpac Banking Corp purchased a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,685 shares of the technology company’s stock, valued at approximately $3,292,000.

Several other hedge funds have also recently bought and sold shares of the business. Hilton Head Capital Partners LLC acquired a new position in shares of Lumentum in the 1st quarter valued at about $25,000. Sachetta LLC grew its position in Lumentum by 118.8% during the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after purchasing an additional 19 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Lumentum in the 4th quarter valued at approximately $28,000. Truvestments Capital LLC grew its holdings in shares of Lumentum by 300.0% during the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after acquiring an additional 57 shares in the last quarter. Finally, Triumph Capital Management acquired a new position in shares of Lumentum in the fourth quarter worth $30,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Wajid Ali sold 2,487 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $2,372,473.65. Following the completion of the sale, the chief financial officer owned 60,951 shares in the company, valued at $58,144,206.45. This represents a 3.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 Isaac Hosojiro Harris sold 1,416 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $1,000.08, for a total value of $1,416,113.28. Following the completion of the sale, the director directly owned 6,984 shares in the company, valued at $6,984,558.72. This trade represents a 16.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 41,260 shares of company stock worth $38,859,220 over the last 90 days. Company insiders own 0.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Citigroup restated a “buy” rating on shares of Lumentum in a research note on Thursday, July 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lumentum in a research note on Friday. TD Cowen reduced their price target on Lumentum from $995.00 to $800.00 and set a “hold” rating for the company in a report on Monday, July 13th. Zacks Research cut Lumentum from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, JPMorgan Chase & Co. increased their price objective on Lumentum from $950.00 to $1,130.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Fourteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,012.67.

Lumentum Stock Up 9.4%

Lumentum stock opened at $837.56 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. Lumentum Holdings Inc. has a fifty-two week low of $97.55 and a fifty-two week high of $1,085.68. The firm has a fifty day moving average price of $856.21 and a two-hundred day moving average price of $719.22. The firm has a market cap of $65.16 billion, a price-to-earnings ratio of 155.10 and a beta of 1.48.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.10. The company had revenue of $808.40 million for 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 firm’s revenue was up 90.1% compared to the same quarter last year. During the same period last year, the business posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, analysts forecast that Lumentum Holdings Inc. will post 6.42 earnings per share for the current 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.