Sequoia Financial Advisors LLC Has $1.95 Million Holdings in Lumentum Holdings Inc. $LITE

Sequoia Financial Advisors LLC boosted its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 36.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,272 shares of the technology company’s stock after acquiring an additional 612 shares during the period. Sequoia Financial Advisors LLC’s holdings in Lumentum were worth $1,950,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CYBER HORNET ETFs LLC raised its position in shares of Lumentum by 7.2% during the second quarter. CYBER HORNET ETFs LLC now owns 209 shares of the technology company’s stock worth $179,000 after purchasing an additional 14 shares during the period. Hilltop National Bank increased its stake in Lumentum by 26.8% during the 2nd quarter. Hilltop National Bank now owns 71 shares of the technology company’s stock worth $61,000 after purchasing an additional 15 shares in the last quarter. Sachetta LLC raised its holdings in Lumentum by 118.8% during the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after buying an additional 19 shares during the period. Toth Financial Advisory Corp raised its holdings in Lumentum by 127.3% during the 2nd quarter. Toth Financial Advisory Corp now owns 50 shares of the technology company’s stock worth $43,000 after buying an additional 28 shares during the period. Finally, Versant Capital Management Inc lifted its stake in Lumentum by 39.5% in the second quarter. Versant Capital Management Inc now owns 106 shares of the technology company’s stock valued at $91,000 after buying an additional 30 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Lumentum Price Performance

Lumentum stock opened at $835.03 on Tuesday. The company has a market capitalization of $74.90 billion, a price-to-earnings ratio of -10.16 and a beta of 1.53. 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 $144.52 and a 12 month high of $1,085.68. The stock’s 50 day moving average is $831.58 and its 200-day moving average is $829.39.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.26. The business had revenue of $1.01 billion during 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%.The firm’s revenue for the quarter was up 109.3% compared to the same quarter last year. During the same period last year, the firm posted $0.88 EPS. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Equities research analysts expect that Lumentum Holdings Inc. will post 19.78 EPS for the current year.

Insider Buying and Selling at Lumentum

In other news, SVP Jae Kim sold 12,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $852.58, for a total value of $10,230,960.00. Following the completion of the sale, the senior vice president owned 37,804 shares of the company’s stock, valued at approximately $32,230,934.32. The trade was a 24.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 500 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $961.44, for a total transaction of $480,720.00. Following the transaction, the insider directly owned 114,627 shares in the company, valued at approximately $110,206,982.88. This represents a 0.43% 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. In the last three months, insiders sold 66,147 shares of company stock worth $56,741,571. Insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LITE. Bank of America lowered their price objective on shares of Lumentum from $1,100.00 to $1,000.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 12th. Rosenblatt Securities reissued a “buy” rating and set a $1,300.00 price target on shares of Lumentum in a research report on Wednesday, August 12th. UBS Group set a $820.00 price objective on Lumentum in a research report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft assumed coverage on Lumentum in a research note on Monday, August 31st. They set a “buy” rating and a $1,200.00 target price for the company. Finally, Citigroup restated a “buy” rating on shares of Lumentum in a research note on Wednesday, August 12th. One equities research 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 given a Sell rating to the company’s stock. According to MarketBeat.com, Lumentum presently has an average rating of “Moderate Buy” and an average target price of $1,053.83.

Lumentum Company Profile

Lumentum Holdings Inc (NASDAQ: LITE) designs and manufactures optical and photonic products used to transmit, process and control light. Its portfolio includes optical components, modules, subsystems, lasers and photonic integrated circuits that support communications networks, data centers, cloud infrastructure and industrial applications.

The company also supplies technologies for consumer electronics and 3D sensing, including laser-based products used in applications such as depth sensing and facial recognition.