Highland Capital Management LLC Acquires Shares of 14,329 Lumentum Holdings Inc. $LITE

Highland Capital Management LLC acquired a new position in Lumentum Holdings Inc. (NASDAQ:LITE) in the 3rd quarter, Holdings Channel reports. The firm acquired 14,329 shares of the technology company’s stock, valued at approximately $2,331,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HighTower Advisors LLC increased its position in shares of Lumentum by 51.1% during the first quarter. HighTower Advisors LLC now owns 5,242 shares of the technology company’s stock valued at $327,000 after buying an additional 1,773 shares during the period. MetLife Investment Management LLC boosted its position in Lumentum by 4.0% during the 1st quarter. MetLife Investment Management LLC now owns 40,258 shares of the technology company’s stock valued at $2,510,000 after acquiring an additional 1,546 shares in the last quarter. Landscape Capital Management L.L.C. grew its holdings in shares of Lumentum by 44.6% during the 1st quarter. Landscape Capital Management L.L.C. now owns 25,460 shares of the technology company’s stock worth $1,587,000 after acquiring an additional 7,856 shares during the period. Analog Century Management LP bought a new position in shares of Lumentum in the 1st quarter worth approximately $60,348,000. Finally, Junto Capital Management LP purchased a new position in shares of Lumentum in the 1st quarter valued at approximately $20,974,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Isaac Hosojiro Harris sold 7,200 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $243.32, for a total transaction of $1,751,904.00. Following the completion of the sale, the director owned 9,764 shares of the company’s stock, valued at $2,375,776.48. This trade represents a 42.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jae Kim sold 170 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $246.00, for a total value of $41,820.00. Following the completion of the transaction, the senior vice president directly owned 38,400 shares in the company, valued at $9,446,400. This trade represents a 0.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 28,612 shares of company stock valued at $7,317,398. Company insiders own 0.43% of the company’s stock.

Analyst Upgrades and Downgrades

LITE has been the topic of several recent research reports. Rosenblatt Securities upped their price target on Lumentum to $380.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Barclays boosted their target price on shares of Lumentum from $165.00 to $181.00 and gave the company an “equal weight” rating in a report on Thursday, November 6th. Wolfe Research reiterated an “outperform” rating and issued a $240.00 price target on shares of Lumentum in a research note on Wednesday, November 5th. JPMorgan Chase & Co. lifted their price target on shares of Lumentum from $145.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Lumentum in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $222.13.

Lumentum Price Performance

LITE opened at $390.77 on Friday. The firm has a market cap of $27.71 billion, a PE ratio of 262.26 and a beta of 1.53. The stock has a 50-day moving average price of $278.69 and a 200-day moving average price of $177.54. Lumentum Holdings Inc. has a 1 year low of $45.65 and a 1 year high of $401.60. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.37 and a quick ratio of 1.02.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.03 by $0.07. The company had revenue of $533.80 million for the quarter, compared to the consensus estimate of $525.10 million. Lumentum had a net margin of 6.11% and a return on equity of 4.62%. Lumentum’s revenue for the quarter was up 58.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 EPS. Lumentum has set its Q2 2026 guidance at 1.300-1.500 EPS. Sell-side analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share 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.