SummitTX Capital L.P. Makes New $882,000 Investment in Lumentum Holdings Inc. $LITE

SummitTX Capital L.P. bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,255 shares of the technology company’s stock, valued at approximately $882,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of LITE. ABS Direct Equity Fund LLC acquired a new stake in shares of Lumentum in the 1st quarter worth approximately $351,000. Corsair Capital Management L.P. acquired a new position in Lumentum during the first quarter worth $351,000. Gateway Wealth Partners LLC acquired a new position in Lumentum during the first quarter worth $689,000. Styrax Capital LP boosted its position in Lumentum by 3.6% during the first quarter. Styrax Capital LP now owns 140,000 shares of the technology company’s stock worth $98,386,000 after purchasing an additional 4,837 shares in the last quarter. Finally, Insight Holdings Group LLC purchased a new stake in Lumentum during the first quarter worth $4,195,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Stifel Nicolaus upped their target price on Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Loop Capital boosted their price objective on shares of Lumentum from $900.00 to $1,400.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. JPMorgan Chase & Co. increased their price objective on shares of Lumentum from $950.00 to $1,130.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Craig Hallum raised their target price on shares of Lumentum from $900.00 to $1,150.00 in a report on Wednesday, May 6th. Finally, Morgan Stanley lifted their target price on shares of Lumentum from $710.00 to $900.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,012.67.

Insider Transactions at Lumentum

In other Lumentum news, SVP Jae Kim sold 1,422 shares of Lumentum stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $1,356,516.90. Following the completion of the sale, the senior vice president directly owned 32,333 shares of the company’s stock, valued at approximately $30,844,065.35. The trade was a 4.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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, insider Vincent Retort sold 3,183 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $3,036,422.85. Following the completion of the transaction, the insider owned 89,563 shares of the company’s stock, valued at $85,438,623.85. This trade represents a 3.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold 41,260 shares of company stock worth $38,859,220 in the last three months. 0.43% of the stock is currently owned by company insiders.

Lumentum Stock Up 15.1%

LITE opened at $693.24 on Friday. The firm has a market cap of $53.93 billion, a P/E ratio of 128.38 and a beta of 1.48. The business’s fifty day simple moving average is $825.72 and its 200 day simple moving average is $736.71. Lumentum Holdings Inc. has a 52 week low of $101.61 and a 52 week high of $1,085.68. 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 (NASDAQ:LITE) last announced its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.10. The firm had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The firm’s revenue for the quarter was up 90.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, equities research analysts anticipate that Lumentum Holdings Inc. will post 6.42 EPS for the current fiscal year.

Lumentum Company 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.