Dorsey Wright & Associates Makes New $2.30 Million Investment in Lumentum Holdings Inc. $LITE

Dorsey Wright & Associates purchased a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) in the 3rd quarter, Holdings Channel reports. The firm purchased 14,162 shares of the technology company’s stock, valued at approximately $2,304,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Lumentum by 0.6% in the third quarter. Vanguard Group Inc. now owns 7,485,282 shares of the technology company’s stock worth $1,217,930,000 after acquiring an additional 41,975 shares during the last quarter. Hood River Capital Management LLC increased its position in Lumentum by 82.1% during the second quarter. Hood River Capital Management LLC now owns 2,206,453 shares of the technology company’s stock worth $209,745,000 after purchasing an additional 994,551 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Lumentum by 8,579.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock worth $254,350,000 after purchasing an additional 1,545,199 shares during the last quarter. Geode Capital Management LLC raised its stake in Lumentum by 0.8% during the second quarter. Geode Capital Management LLC now owns 1,260,940 shares of the technology company’s stock worth $119,884,000 after purchasing an additional 10,027 shares during the period. Finally, Alliancebernstein L.P. raised its stake in Lumentum by 4.4% during the third quarter. Alliancebernstein L.P. now owns 1,085,119 shares of the technology company’s stock worth $176,560,000 after purchasing an additional 45,953 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Buying and Selling

In other Lumentum news, insider Yuen Wupen sold 3,157 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $538.00, for a total value of $1,698,466.00. Following the completion of the sale, the insider owned 88,439 shares of the company’s stock, valued at $47,580,182. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Penny Herscher sold 4,849 shares of Lumentum stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $535.48, for a total transaction of $2,596,542.52. Following the sale, the director owned 6,057 shares in the company, valued at $3,243,402.36. This represents a 44.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 65,775 shares of company stock valued at $38,851,343. Insiders own 0.43% of the company’s stock.

Analyst Ratings Changes

LITE has been the subject of several research reports. B. Riley Financial raised shares of Lumentum from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $147.00 to $526.00 in a research note on Wednesday, February 4th. Stifel Nicolaus increased their target price on Lumentum to $800.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Citigroup lifted their target price on Lumentum to $560.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Barclays boosted their price target on Lumentum to $750.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 3rd. Finally, Needham & Company LLC raised their price objective on Lumentum to $850.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Lumentum currently has a consensus rating of “Moderate Buy” and an average target price of $550.38.

Lumentum Stock Up 4.0%

Shares of NASDAQ LITE opened at $649.56 on Wednesday. The stock has a fifty day moving average price of $520.42 and a 200 day moving average price of $338.93. The company has a current ratio of 0.61, a quick ratio of 0.45 and a debt-to-equity ratio of 0.06. Lumentum Holdings Inc. has a 12-month low of $45.65 and a 12-month high of $783.80. The company has a market cap of $46.38 billion, a P/E ratio of 199.25 and a beta of 1.38.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Tuesday, February 3rd. The technology company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.26. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.The company had revenue of $665.50 million for the quarter, compared to analysts’ expectations of $646.74 million. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The firm’s quarterly revenue was up 65.5% on a year-over-year basis. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. Research analysts anticipate that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal 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.