Csenge Advisory Group Acquires Shares of 592 Lumentum Holdings Inc. $LITE

Csenge Advisory Group acquired a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 592 shares of the technology company’s stock, valued at approximately $508,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Advisors Asset Management Inc. raised its holdings in Lumentum by 36.8% during the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock valued at $59,000 after buying an additional 254 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Lumentum by 109.9% in the 1st quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company’s stock worth $747,000 after acquiring an additional 6,275 shares during the last quarter. Empowered Funds LLC increased its position in shares of Lumentum by 9.1% in the first quarter. Empowered Funds LLC now owns 8,139 shares of the technology company’s stock valued at $507,000 after acquiring an additional 680 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Lumentum in the second quarter valued at about $298,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Lumentum during the second quarter valued at about $1,712,000. Institutional investors own 94.05% of the company’s stock.

Insider Activity

In related news, insider Vincent Retort sold 3,183 shares of Lumentum stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $909.43, for a total transaction of $2,894,715.69. Following the sale, the insider directly owned 114,495 shares in the company, valued at $104,125,187.85. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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, SVP Jae Kim sold 1,366 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $909.43, for a total value of $1,242,281.38. Following the completion of the sale, the senior vice president directly owned 45,973 shares in the company, valued at approximately $41,809,225.39. The trade was a 2.89% 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 a total of 9,965 shares of company stock worth $8,993,110 in the last quarter. 0.43% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LITE has been the subject of a number of analyst reports. Craig Hallum increased their target price on shares of Lumentum from $900.00 to $1,150.00 in a report on Wednesday, May 6th. JPMorgan Chase & Co. boosted their price target on Lumentum from $1,165.00 to $1,280.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Loop Capital upped their price target on Lumentum from $900.00 to $1,400.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Citigroup reiterated a “buy” rating on shares of Lumentum in a research report on Wednesday, August 12th. Finally, Weiss Ratings cut Lumentum from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 5th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,044.67.

Lumentum Stock Performance

Shares of LITE opened at $879.28 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.68 and a quick ratio of 1.40. Lumentum Holdings Inc. has a one year low of $115.21 and a one year high of $1,085.68. The company has a 50-day simple moving average of $810.86 and a two-hundred day simple moving average of $789.68. The firm has a market capitalization of $78.87 billion, a PE ratio of -10.70 and a beta of 1.50.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Tuesday, August 11th. The technology company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.26. Lumentum had a positive return on equity of 26.34% and a negative net margin of 230.15%.The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $987.70 million. During the same period in the previous year, the firm posted $0.88 EPS. The business’s revenue was up 109.3% on a year-over-year basis. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. On average, analysts anticipate that Lumentum Holdings Inc. will post 16.95 EPS for the current fiscal year.

Lumentum 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.