Brookstone Capital Management Increases Stake in Lumentum Holdings Inc. $LITE

Brookstone Capital Management lifted its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 145.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,725 shares of the technology company’s stock after buying an additional 1,021 shares during the quarter. Brookstone Capital Management’s holdings in Lumentum were worth $1,212,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Zacks Research upgraded Lumentum from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. upped their price objective on Lumentum from $950.00 to $1,130.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lumentum in a report on Tuesday, April 21st. Rosenblatt Securities raised their target price on Lumentum from $900.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Jefferies Financial Group restated a “buy” rating and set a $1,200.00 target price on shares of Lumentum in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Lumentum has a consensus rating of “Moderate Buy” and an average target price of $1,021.95.

Lumentum Stock Performance

Shares of Lumentum stock opened at $861.97 on Friday. The firm’s fifty day simple moving average is $901.14 and its 200-day simple moving average is $667.33. Lumentum Holdings Inc. has a 12 month low of $88.37 and a 12 month high of $1,085.68. The stock has a market capitalization of $67.06 billion, a price-to-earnings ratio of 159.62 and a beta of 1.47. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The firm had revenue of $808.40 million during the quarter, compared to analysts’ expectations of $810.21 million. During the same quarter in the prior 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. As a group, equities analysts forecast that Lumentum Holdings Inc. will post 6.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Vincent Retort sold 3,183 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 89,563 shares in the company, valued at $85,438,623.85. The trade was a 3.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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, CFO Wajid Ali sold 2,487 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $2,372,473.65. Following the sale, the chief financial officer directly owned 60,951 shares of the company’s stock, valued at approximately $58,144,206.45. This represents a 3.92% 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. In the last ninety days, insiders sold 41,260 shares of company stock valued at $38,859,220. 0.43% of the stock is owned by insiders.

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.