HB Wealth Management LLC Has $1.52 Million Stock Position in Lumentum Holdings Inc. $LITE

HB Wealth Management LLC boosted its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 78.2% during the 1st quarter, Holdings Channel reports. The fund owned 2,163 shares of the technology company’s stock after buying an additional 949 shares during the period. HB Wealth Management LLC’s holdings in Lumentum were worth $1,520,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in LITE. Counterpoint Mutual Funds LLC acquired a new position in shares of Lumentum during the first quarter worth approximately $327,000. World Investment Advisors acquired a new stake in Lumentum in the 1st quarter valued at $410,000. Capelight Capital Asset Management LP grew its position in Lumentum by 100.0% in the 1st quarter. Capelight Capital Asset Management LP now owns 10,000 shares of the technology company’s stock valued at $7,028,000 after purchasing an additional 5,000 shares during the period. Sierra Summit Advisors LLC bought a new stake in Lumentum during the 1st quarter valued at $17,953,000. Finally, Private Advisor Group LLC increased its stake in Lumentum by 55.1% during the 1st quarter. Private Advisor Group LLC now owns 7,186 shares of the technology company’s stock valued at $5,050,000 after purchasing an additional 2,553 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Lumentum Stock Performance

NASDAQ LITE opened at $698.91 on Wednesday. The company has a fifty day moving average price of $886.59 and a 200-day moving average price of $691.84. The firm has a market cap of $54.38 billion, a price-to-earnings ratio of 129.43 and a beta of 1.48. 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 Holdings Inc. has a 1 year low of $88.93 and a 1 year high of $1,085.68.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating 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 company had revenue of $808.40 million for the quarter, compared to analyst estimates of $810.21 million. During the same period last year, the firm earned $0.57 earnings per share. The firm’s revenue was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, equities research analysts predict that Lumentum Holdings Inc. will post 6.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LITE. Morgan Stanley raised their price objective on shares of Lumentum from $710.00 to $900.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Stifel Nicolaus upped their target price on shares of Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. B. Riley Financial reaffirmed a “buy” rating on shares of Lumentum in a research report on Friday, May 1st. Needham & Company LLC reiterated a “buy” rating and set a $1,040.00 price target on shares of Lumentum in a research note on Tuesday, June 9th. Finally, Susquehanna boosted their price objective on Lumentum from $550.00 to $1,100.00 and gave the stock a “positive” rating in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,021.95.

Insider Activity

In related news, insider Vincent Retort sold 3,183 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $3,036,422.85. Following the completion of the sale, the insider directly owned 89,563 shares of the company’s stock, valued at approximately $85,438,623.85. This trade represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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, Director Brian Lillie sold 11,951 shares of Lumentum stock in a transaction on Monday, May 11th. The stock was sold at an average price of $981.64, for a total value of $11,731,579.64. Following the sale, the director owned 13,959 shares in the company, valued at $13,702,712.76. This trade represents a 46.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 41,260 shares of company stock worth $38,859,220. Corporate insiders own 0.43% of the company’s stock.

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.