Whittier Trust Co. of Nevada Inc. Boosts Stock Position in Lumentum Holdings Inc. $LITE

Whittier Trust Co. of Nevada Inc. increased its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 335,933.3% during the 1st quarter, Holdings Channel reports. The firm owned 30,243 shares of the technology company’s stock after buying an additional 30,234 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Lumentum were worth $23,356,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of LITE. Hilton Head Capital Partners LLC bought a new position in Lumentum during the 1st quarter valued at approximately $25,000. EverSource Wealth Advisors LLC grew its position in shares of Lumentum by 363.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock worth $27,000 after buying an additional 131 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Lumentum during the fourth quarter valued at approximately $28,000. Truvestments Capital LLC increased its stake in shares of Lumentum by 300.0% during the fourth quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after buying an additional 57 shares during the period. Finally, Triumph Capital Management bought a new position in shares of Lumentum during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ian Small sold 4,954 shares of Lumentum stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the completion of the transaction, the director directly owned 21,008 shares in the company, valued at approximately $18,236,414.56. This trade represents a 19.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vincent Retort sold 3,183 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $3,036,422.85. Following the completion of the sale, the insider directly owned 89,563 shares in the company, valued at approximately $85,438,623.85. This represents a 3.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last quarter, insiders have sold 41,260 shares of company stock valued at $38,859,220. Insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LITE. Barclays raised their price target on Lumentum from $750.00 to $1,000.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. B. Riley Financial reissued a “buy” rating on shares of Lumentum in a research report on Friday, May 1st. Loop Capital upped their price objective on shares of Lumentum from $900.00 to $1,400.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. UBS Group raised their target price on shares of Lumentum from $455.00 to $960.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $1,040.00 target price on shares of Lumentum in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,021.95.

Lumentum Stock Performance

Shares of LITE stock opened at $728.32 on Monday. Lumentum Holdings Inc. has a 12 month low of $88.93 and a 12 month high of $1,085.68. The stock has a market cap of $56.66 billion, a PE ratio of 134.87 and a beta of 1.48. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. The company’s fifty day moving average price is $892.56 and its 200-day moving average price is $686.25.

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, topping the consensus estimate of $2.27 by $0.10. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The company had revenue of $808.40 million during the quarter, compared to analyst estimates of $810.21 million. During the same period last year, the business earned $0.57 EPS. Lumentum’s quarterly revenue was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, equities analysts expect that Lumentum Holdings Inc. will post 6.4 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.