NS Partners Ltd Buys Shares of 1,946 Lumentum Holdings Inc. $LITE

NS Partners Ltd purchased a new position in Lumentum Holdings Inc. (NASDAQ:LITE) in the second quarter, HoldingsChannel.com reports. The fund purchased 1,946 shares of the technology company’s stock, valued at approximately $1,670,000.

Several other institutional investors and hedge funds have also made changes to their positions in LITE. Hilltop National Bank increased its position in Lumentum by 26.8% during the 2nd quarter. Hilltop National Bank now owns 71 shares of the technology company’s stock worth $61,000 after purchasing an additional 15 shares in the last quarter. Sachetta LLC boosted its stake in shares of Lumentum by 118.8% during the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after purchasing an additional 19 shares during the last quarter. Toth Financial Advisory Corp grew its holdings in shares of Lumentum by 127.3% during the second quarter. Toth Financial Advisory Corp now owns 50 shares of the technology company’s stock worth $43,000 after buying an additional 28 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Lumentum by 39.5% during the second quarter. Versant Capital Management Inc now owns 106 shares of the technology company’s stock worth $91,000 after buying an additional 30 shares in the last quarter. Finally, Hilton Head Capital Partners LLC acquired a new position in shares of Lumentum in the first quarter valued at approximately $25,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on LITE shares. JPMorgan Chase & Co. lifted their target price on shares of Lumentum from $1,165.00 to $1,280.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. BNP Paribas Exane lifted their price objective on Lumentum from $1,040.00 to $1,300.00 in a research report on Wednesday, May 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $1,300.00 target price on shares of Lumentum in a research note on Wednesday, August 12th. Loop Capital increased their target price on Lumentum from $900.00 to $1,400.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Finally, Northland Securities lifted their price target on Lumentum from $1,000.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,053.83.

Insider Buying and Selling at Lumentum

In other news, SVP Jae Kim sold 12,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $852.58, for a total value of $10,230,960.00. Following the completion of the sale, the senior vice president owned 37,804 shares of the company’s stock, valued at $32,230,934.32. This represents a 24.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael E. Hurlston sold 548 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $958.66, for a total value of $525,345.68. Following the completion of the sale, the chief executive officer owned 186,951 shares of the company’s stock, valued at approximately $179,222,445.66. This trade represents a 0.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 63,147 shares of company stock worth $54,032,636. Insiders own 0.43% of the company’s stock.

Lumentum Stock Performance

NASDAQ LITE opened at $914.76 on Tuesday. 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 1-year low of $125.00 and a 1-year high of $1,085.68. The firm has a market capitalization of $82.05 billion, a P/E ratio of -11.13 and a beta of 1.50. The business’s 50-day simple moving average is $812.24 and its 200-day simple moving average is $809.18.

Lumentum (NASDAQ:LITE) last posted its earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.26. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $987.70 million. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The company’s revenue was up 109.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Equities analysts predict that Lumentum Holdings Inc. will post 19.76 EPS for the current 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.