JNBA Financial Advisors Buys New Stake in Lumentum Holdings Inc. $LITE

JNBA Financial Advisors bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 986 shares of the technology company’s stock, valued at approximately $846,000.

Other large investors also recently added to or reduced their stakes in the company. Quantitative Investment Management LLC acquired a new stake in shares of Lumentum in the second quarter valued at $4,063,000. Fosun International Ltd acquired a new position in Lumentum during the 2nd quarter worth about $2,426,000. Sigma Planning Corp boosted its holdings in Lumentum by 16.5% during the 2nd quarter. Sigma Planning Corp now owns 627 shares of the technology company’s stock valued at $538,000 after acquiring an additional 89 shares during the period. Two Sigma Securities LLC acquired a new position in Lumentum in the 2nd quarter valued at about $3,537,000. Finally, Benjamin Edwards Inc. acquired a new position in Lumentum in the 2nd quarter valued at about $662,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on LITE shares. Evercore began coverage on shares of Lumentum in a research note on Monday. They set an “outperform” rating and a $1,100.00 price target on the stock. Rosenblatt Securities restated a “buy” rating and issued a $1,300.00 price objective on shares of Lumentum in a report on Wednesday, August 12th. Barclays upped their target price on shares of Lumentum from $750.00 to $1,000.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. TD Cowen increased their target price on shares of Lumentum from $800.00 to $820.00 and gave the stock a “hold” rating in a report on Wednesday, August 12th. Finally, Weiss Ratings cut shares of Lumentum from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Lumentum has an average rating of “Moderate Buy” and an average price target of $1,053.83.

Lumentum Stock Performance

Shares of LITE stock opened at $914.76 on Tuesday. The company has a market cap of $82.05 billion, a P/E ratio of -11.13 and a beta of 1.50. The firm has a fifty day moving average price of $812.24 and a 200 day moving average price of $809.18. The company has a current ratio of 1.68, a quick ratio of 1.40 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a 12 month low of $125.00 and a 12 month high of $1,085.68.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.26. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $987.70 million. Lumentum had a positive return on equity of 26.34% and a negative net margin of 230.15%.Lumentum’s quarterly revenue was up 109.3% on a year-over-year basis. During the same period last year, the firm earned $0.88 earnings per share. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Sell-side analysts predict that Lumentum Holdings Inc. will post 19.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Michael E. Hurlston sold 548 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $958.66, for a total value of $525,345.68. Following the completion of the transaction, the chief executive officer directly owned 186,951 shares of the company’s stock, valued at $179,222,445.66. This represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Yuen Wupen sold 500 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $882.15, for a total transaction of $441,075.00. Following the completion of the transaction, the insider owned 119,127 shares in the company, valued at $105,087,883.05. This represents a 0.42% 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. Insiders sold a total of 63,147 shares of company stock worth $54,032,636 over the last 90 days. Insiders own 0.43% of the company’s stock.

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.